Blue Zone Wealth Advisors LLC Boosts Stake in Element Solutions Inc. $ESI

Key Points

• Blue Zone Wealth Advisors LLC increased its stake in Element Solutions Inc. (NYSE: ESI) by 8.3%, owning approximately 204,536 shares valued at $4.63 million by the end of the second quarter.
• Element Solutions reported earnings per share of $0.37 for its latest quarter, surpassing analysts' expectations of $0.36, with a revenue of $625.20 million.
• The company recently announced a quarterly dividend of $0.08 per share, reflecting an annual yield of 1.3% and a payout ratio of 32%.

Blue Zone Wealth Advisors LLC boosted its position in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 204,536 shares of the company's stock after purchasing an additional 15,632 shares during the quarter. Blue Zone Wealth Advisors LLC owned approximately 0.08% of Element Solutions worth $4,633,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amalgamated Bank lifted its position in shares of Element Solutions by 479.7% in the first quarter. Amalgamated Bank now owns 67,594 shares of the company's stock valued at $1,528,000 after acquiring an additional 55,933 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Element Solutions by 48.5% in the first quarter. Bank of New York Mellon Corp now owns 1,716,292 shares of the company's stock valued at $38,805,000 after buying an additional 560,346 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Element Solutions in the first quarter valued at about $623,000. QRG Capital Management Inc. grew its stake in shares of Element Solutions by 13.3% in the first quarter. QRG Capital Management Inc. now owns 28,196 shares of the company's stock valued at $638,000 after buying an additional 3,302 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Element Solutions by 110.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,102 shares of the company's stock valued at $1,336,000 after purchasing an additional 30,953 shares during the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Element Solutions Trading Down 7.2%

NYSE:ESI opened at $23.96 on Friday. The stock has a market cap of $5.79 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.10 and a quick ratio of 3.30. The stock's 50-day moving average is $25.49 and its two-hundred day moving average is $23.07.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $625.20 million during the quarter, compared to analysts' expectations of $587.45 million. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, equities research analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Element Solutions's dividend payout ratio (DPR) is presently 32.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ESI shares. Fermium Researc raised Element Solutions to a "strong-buy" rating in a report on Wednesday, September 17th. KeyCorp increased their target price on Element Solutions from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Mizuho increased their target price on Element Solutions from $27.00 to $29.00 and gave the stock an "outperform" rating in a report on Friday, October 3rd. The Goldman Sachs Group restated a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Finally, UBS Group lifted their price target on Element Solutions from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Element Solutions currently has a consensus rating of "Buy" and a consensus target price of $27.88.

Insider Activity at Element Solutions

In related news, EVP Carey J. Dorman sold 40,725 shares of Element Solutions stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total transaction of $1,085,728.50. Following the completion of the sale, the executive vice president owned 214,837 shares of the company's stock, valued at approximately $5,727,554.42. This trade represents a 15.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Edward Capps sold 77,674 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $26.77, for a total value of $2,079,332.98. Following the transaction, the executive vice president owned 609,790 shares in the company, valued at approximately $16,324,078.30. This trade represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,399 shares of company stock valued at $4,492,561. Insiders own 6.90% of the company's stock.

Element Solutions Profile

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.

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