Castleark Management LLC Invests $12.59 Million in Element Solutions Inc. $ESI

Key Points

• Castleark Management LLC acquired 263,644 shares of Element Solutions in the second quarter, valued at approximately $12.59 million and representing about 0.11% of the company. Institutional investors collectively own 92.32% of ESI.
• Element Solutions exceeded quarterly expectations, reporting adjusted EPS of $0.47 versus the $0.43 consensus and revenue of $977.9 million, up 56.4% year over year. Analysts maintain a consensus “Buy” rating with a $43.50 price target.
• The company declared a quarterly dividend of $0.08 per share, payable September 15 to shareholders of record September 1, for an annualized yield of approximately 0.9%.

Castleark Management LLC purchased a new position in Element Solutions Inc. (NYSE:ESI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 263,644 shares of the company's stock, valued at approximately $12,589,000. Castleark Management LLC owned approximately 0.11% of Element Solutions as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ESI. BlackRock Inc. acquired a new position in shares of Element Solutions during the second quarter valued at $1,317,663,000. Bank of New York Mellon Corp acquired a new stake in Element Solutions during the 2nd quarter worth about $110,892,000. Invesco Ltd. lifted its stake in Element Solutions by 43.6% during the fourth quarter. Invesco Ltd. now owns 7,069,238 shares of the company's stock valued at $176,660,000 after buying an additional 2,146,512 shares in the last quarter. Scopus Asset Management L.P. lifted its stake in Element Solutions by 134.6% during the second quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company's stock valued at $77,602,000 after buying an additional 1,965,691 shares in the last quarter. Finally, Jain Global LLC boosted its holdings in shares of Element Solutions by 253.3% in the fourth quarter. Jain Global LLC now owns 2,127,297 shares of the company's stock worth $53,161,000 after buying an additional 1,525,195 shares during the period. Institutional investors and hedge funds own 92.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ESI. Mizuho restated a "neutral" rating and set a $45.00 price target (down from $54.00) on shares of Element Solutions in a report on Tuesday, July 14th. Seaport Research Partners reaffirmed a "buy" rating and issued a $49.00 price objective on shares of Element Solutions in a research note on Tuesday, May 5th. UBS Group lifted their price objective on shares of Element Solutions to $52.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Wolfe Research set a $47.00 target price on shares of Element Solutions in a research note on Wednesday, July 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Element Solutions in a report on Friday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $43.50.

Element Solutions Trading Up 1.4%

NYSE:ESI opened at $35.46 on Wednesday. The stock has a market cap of $8.64 billion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 1.21 and a beta of 1.26. Element Solutions Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $49.25. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11. The stock's 50-day moving average is $40.03 and its two-hundred day moving average is $38.24.

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

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Element Solutions's dividend payout ratio is currently 43.24%.

Element Solutions Company Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company's solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.

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