California State Teachers Retirement System Grows Holdings in Element Solutions Inc. $ESI

Key Points

• California State Teachers Retirement System increased its Element Solutions stake by 4,566.5%, acquiring 12.5 million additional shares and ending the quarter with a 5.24% ownership position valued at about $610.2 million. Institutional investors collectively own 92.32% of the company.
• Analysts remain broadly bullish, with an average “Buy” rating and a consensus price target of $46.70; recent targets range from $42 to $55.
• Element Solutions beat quarterly earnings and revenue expectations, reporting $0.47 in EPS and $977.9 million in revenue, while revenue grew 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 boosted its position in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 4,566.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,778,378 shares of the company's stock after acquiring an additional 12,504,547 shares during the period. California State Teachers Retirement System owned 5.24% of Element Solutions worth $610,168,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ESI. BlackRock Inc. purchased a new position in shares of Element Solutions during the 2nd quarter valued at $1,317,663,000. Geode Capital Management LLC lifted its position in shares of Element Solutions by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 4,902,401 shares of the company's stock valued at $122,536,000 after acquiring an additional 75,365 shares in the last quarter. Locust Wood Capital Advisers LLC lifted its position in shares of Element Solutions by 2.4% in the fourth quarter. Locust Wood Capital Advisers LLC now owns 4,837,611 shares of the company's stock valued at $120,892,000 after acquiring an additional 115,147 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Element Solutions in the second quarter worth about $110,892,000. Finally, Jennison Associates LLC boosted its stake in shares of Element Solutions by 36.7% in the first quarter. Jennison Associates LLC now owns 2,977,958 shares of the company's stock worth $101,667,000 after acquiring an additional 798,923 shares during the period. Hedge funds and other institutional investors own 92.32% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial lifted their target price on Element Solutions from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. The Goldman Sachs Group began coverage on Element Solutions in a research note on Friday. They issued a "buy" rating and a $44.00 price target for the company. Wolfe Research set a $47.00 price objective on shares of Element Solutions in a research report on Wednesday, July 29th. Bank of America began coverage on shares of Element Solutions in a report on Tuesday, September 1st. They issued a "buy" rating and a $42.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Element Solutions in a research report on Wednesday, September 2nd. They set a "buy" rating and a $55.00 target price for the company. Four investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $46.70.

Element Solutions Stock Down 6.5%

NYSE ESI opened at $32.11 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.11 and a current ratio of 2.91. The company has a market capitalization of $7.83 billion, a P/E ratio of 43.40, a P/E/G ratio of 1.27 and a beta of 1.26. Element Solutions Inc. has a one year low of $22.86 and a one year high of $49.25. The stock has a 50 day moving average price of $37.03 and a 200-day moving average price of $38.46.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The business had revenue of $977.90 million during the quarter, compared to analyst estimates of $873.19 million. During the same quarter last year, the business earned $0.20 earnings per share. Element Solutions's quarterly revenue was up 56.4% compared to the same quarter last year. As a group, equities analysts predict that Element Solutions Inc. will post 1.81 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.08 dividend. The ex-dividend date 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 currently 43.24%.

Element Solutions Company Profile

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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