Element Solutions Inc. $ESI Stock Holdings Lessened by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reduced its Element Solutions stake by 2.3% in the second quarter, selling 6,221 shares and retaining 267,610 shares valued at approximately $12.8 million. Institutional investors and hedge funds collectively own 92.32% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $46.70, well above the reported share price of $31.73.
• Element Solutions exceeded quarterly expectations with earnings of $0.47 per share and revenue of $977.9 million, up 56.4% year over year. The company also declared a quarterly dividend of $0.08 per share, representing a 1.0% annualized yield.

California State Teachers Retirement System reduced its stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,610 shares of the company's stock after selling 6,221 shares during the period. California State Teachers Retirement System owned 0.11% of Element Solutions worth $12,778,378 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ESI. Assetmark Inc. lifted its stake in Element Solutions by 151.0% in the 1st quarter. Assetmark Inc. now owns 778 shares of the company's stock valued at $27,000 after purchasing an additional 468 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Element Solutions by 57.4% in the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company's stock valued at $32,000 after purchasing an additional 346 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Element Solutions in the 2nd quarter worth approximately $63,000. Allworth Financial LP purchased a new position in shares of Element Solutions during the second quarter valued at approximately $66,000. Finally, Trust Co. of Vermont purchased a new stake in Element Solutions in the second quarter worth about $81,000. 92.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America assumed coverage on shares of Element Solutions in a report on Tuesday, September 1st. They issued a "buy" rating and a $42.00 price objective for the company. Mizuho reissued a "neutral" rating and issued a $45.00 price objective (down from $54.00) on shares of Element Solutions in a report on Tuesday, July 14th. BMO Capital Markets reissued an "outperform" rating on shares of Element Solutions in a research note on Tuesday, July 28th. Weiss Ratings lowered Element Solutions from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday. Finally, William Blair set a $48.00 price target on Element Solutions in a research report on Friday, August 28th. Five equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Element Solutions presently has a consensus rating of "Buy" and a consensus target price of $46.70.

Element Solutions Price Performance

Shares of ESI stock traded down $0.40 during trading hours on Tuesday, hitting $31.73. The stock had a trading volume of 2,031,516 shares, compared to its average volume of 3,742,022. Element Solutions Inc. has a one year low of $22.86 and a one year high of $49.25. The stock's 50-day moving average price is $37.03 and its two-hundred day moving average price is $38.46. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 1.27 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The company had revenue of $977.90 million during the quarter, compared to the consensus estimate of $873.19 million. During the same period in the previous year, the company posted $0.20 earnings per share. Element Solutions's revenue for the quarter was up 56.4% on a year-over-year basis. Equities analysts forecast that Element Solutions Inc. will post 1.81 EPS for the current year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Element Solutions's dividend payout ratio (DPR) is presently 43.24%.

About Element Solutions

Element Solutions Inc NYSE: ESI is a global specialty chemicals company that develops and supplies engineered materials and process technologies for the electronics, industrial and energy markets. Its products are used in manufacturing, assembly, protection and performance-enhancement applications across a range of industries.

The company's electronics products support printed circuit board fabrication, semiconductor packaging and assembly, and other electronic component manufacturing processes.

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