Corient Private Wealth LP Purchases New Holdings in Element Solutions Inc. $ESI

Key Points

• Corient Private Wealth LP acquired 412,019 shares of Element Solutions worth approximately $19.7 million, while several other institutions also initiated positions. Institutional investors and hedge funds now own 92.32% of the company.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and an average price target of $44.00.
• Element Solutions exceeded quarterly expectations, reporting adjusted EPS of $0.47 versus $0.43 expected and revenue of $977.9 million, up 56.4% year over year. The company also declared a quarterly dividend of $0.08 per share.

Corient Private Wealth LP bought a new position in shares of Element Solutions Inc. (NYSE:ESI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 412,019 shares of the company's stock, valued at approximately $19,674,000. Corient Private Wealth LP owned 0.17% of Element Solutions as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ESI. Bank of America Corp DE bought a new stake in Element Solutions in the second quarter valued at approximately $47,689,000. Man Group plc bought a new stake in shares of Element Solutions in the 2nd quarter valued at $1,422,000. Jupiter Topco LLC bought a new stake in shares of Element Solutions in the 2nd quarter valued at $4,798,000. Hsbc Holdings PLC bought a new position in Element Solutions during the second quarter worth about $238,000. Finally, Castleark Management LLC acquired a new position in Element Solutions in the second quarter valued at about $12,589,000. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ESI shares. BMO Capital Markets reiterated an "outperform" rating on shares of Element Solutions in a report on Tuesday, July 28th. Seaport Research Partners reaffirmed a "buy" rating and issued a $49.00 price target on shares of Element Solutions in a research note on Tuesday, May 5th. Mizuho reiterated a "neutral" rating and issued a $45.00 price target (down from $54.00) on shares of Element Solutions in a report on Tuesday, July 14th. Wolfe Research set a $47.00 price objective on shares of Element Solutions in a report on Wednesday, July 29th. Finally, Truist Financial upped their target price on shares of Element Solutions from $47.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $44.00.

Element Solutions Price Performance

Shares of ESI opened at $34.93 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.91 and a debt-to-equity ratio of 0.73. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25. The stock has a market capitalization of $8.51 billion, a P/E ratio of 47.20, a P/E/G ratio of 1.26 and a beta of 1.26. The company has a 50 day moving average of $39.43 and a 200-day moving average of $38.32.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $873.19 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The firm's revenue for the quarter was up 56.4% on a year-over-year basis. As a group, equities research analysts forecast that Element Solutions Inc. will post 1.81 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given 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 0.9%. Element Solutions's payout ratio is 43.24%.

About Element Solutions

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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