Comerica Bank Has $2.06 Million Stake in Element Solutions Inc. $ESI

Key Points

• Comerica Bank significantly increased its holdings in Element Solutions Inc. by 436.5% during the first quarter, acquiring an additional 73,931 shares and bringing its total ownership to 90,870 shares.
• Analysts have adjusted their price targets for Element Solutions, with KeyCorp and UBS Group raising their projections to $30.00, while the average price target is now $27.38.
• Element Solutions also announced a quarterly dividend of $0.08 per share, resulting in an annualized yield of 1.2%, payable on September 15th to investors of record as of September 2nd.

Comerica Bank grew its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 436.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,870 shares of the company's stock after purchasing an additional 73,931 shares during the quarter. Comerica Bank's holdings in Element Solutions were worth $2,055,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ESI. Wells Fargo & Company MN raised its position in shares of Element Solutions by 100.5% in the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock valued at $88,000 after purchasing an additional 1,739 shares during the period. Stifel Financial Corp raised its position in shares of Element Solutions by 171.3% in the fourth quarter. Stifel Financial Corp now owns 26,816 shares of the company's stock valued at $682,000 after purchasing an additional 16,931 shares during the period. Hsbc Holdings PLC raised its position in shares of Element Solutions by 116.1% in the fourth quarter. Hsbc Holdings PLC now owns 18,817 shares of the company's stock valued at $479,000 after purchasing an additional 10,108 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Element Solutions by 5.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 54,631 shares of the company's stock valued at $1,389,000 after purchasing an additional 2,611 shares during the period. Finally, Jane Street Group LLC raised its position in shares of Element Solutions by 124.7% in the fourth quarter. Jane Street Group LLC now owns 119,079 shares of the company's stock valued at $3,028,000 after purchasing an additional 66,076 shares during the period. 92.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. KeyCorp increased their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. The Goldman Sachs Group reissued a "neutral" rating and issued a $27.00 price objective (up from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Finally, Mizuho raised their price target on shares of Element Solutions from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $27.38.

Element Solutions Stock Performance

NYSE:ESI traded up $0.47 during mid-day trading on Friday, reaching $26.17. 3,079,928 shares of the company's stock were exchanged, compared to its average volume of 1,519,970. Element Solutions Inc. has a one year low of $16.77 and a one year high of $29.78. The firm has a market capitalization of $6.32 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.31. The business's fifty day simple moving average is $24.53 and its two-hundred day simple moving average is $23.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10.

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

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, September 2nd. Element Solutions's dividend payout ratio is presently 32.00%.

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.