Element Solutions Inc. $ESI Shares Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in Element Solutions Inc. by 48.1%, owning 244,447 shares valued at approximately $5.53 million after purchasing an additional 79,433 shares.
• Element Solutions reported earnings of $0.37 per share for the last quarter, exceeding estimates, with revenues of $625.20 million, reflecting a year-over-year increase of 2%.
• The firm announced a quarterly dividend of $0.08 per share, representing a 1.3% yield, with a payout ratio of 32% as part of its ongoing shareholder returns.

Cubist Systematic Strategies LLC raised its position in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 48.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,447 shares of the company's stock after purchasing an additional 79,433 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.10% of Element Solutions worth $5,527,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Park Square Financial Group LLC bought a new stake in shares of Element Solutions during the 4th quarter valued at $28,000. SVB Wealth LLC bought a new stake in shares of Element Solutions during the 1st quarter valued at about $37,000. Eagle Bay Advisors LLC raised its holdings in shares of Element Solutions by 940.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company's stock valued at $52,000 after purchasing an additional 2,060 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Element Solutions by 311.3% in the 1st quarter. Covestor Ltd now owns 3,126 shares of the company's stock valued at $71,000 after buying an additional 2,366 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Element Solutions by 100.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock worth $88,000 after purchasing an additional 1,739 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ESI has been the subject of a number of research reports. Mizuho boosted their target price on Element Solutions from $24.00 to $27.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. KeyCorp raised their price target on shares of Element Solutions from $29.00 to $30.00 and gave the stock 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 target (up from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Finally, UBS Group boosted their target price on Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $27.38.

Element Solutions Stock Performance

Shares of NYSE:ESI traded down $0.01 during trading hours on Monday, hitting $26.20. The stock had a trading volume of 1,261,550 shares, compared to its average volume of 2,522,574. The stock's fifty day simple moving average is $24.53 and its 200 day simple moving average is $22.98. Element Solutions Inc. has a 1-year low of $16.77 and a 1-year high of $29.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 1.71 and a beta of 1.31.

Element Solutions (NYSE:ESI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $625.20 million for the quarter, compared to the consensus estimate of $587.45 million. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. Sell-side 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Element Solutions's payout ratio is presently 32.00%.

Element Solutions Company 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.