Element Solutions Inc. $ESI Stock Position Lifted by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC increased its stake in Element Solutions Inc. by 46%, owning approximately 1,057,020 shares worth about $23.9 million after acquiring 333,031 additional shares.
• Equities research analysts have set new price targets for Element Solutions, with UBS Group raising their target from $29.00 to $30.00, while the average rating for the stock remains a "Buy" with a target around $27.38.
• The company recently announced a $0.08 quarterly dividend, resulting in an annualized yield of 1.3%, with 92.32% of its shares owned by institutional investors.

Eventide Asset Management LLC boosted its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 46.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,057,020 shares of the company's stock after purchasing an additional 333,031 shares during the quarter. Eventide Asset Management LLC owned approximately 0.44% of Element Solutions worth $23,907,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ESI shares. KeyCorp upped their price target on Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Mizuho upped their price target on Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group reissued a "neutral" rating and set 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 upped their price target on Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Element Solutions has an average rating of "Buy" and a consensus target price of $27.38.

Element Solutions Stock Performance

ESI traded up $0.04 during trading on Monday, reaching $26.25. 2,205,378 shares of the company were exchanged, compared to its average volume of 2,528,909. The stock has a market cap of $6.34 billion, a P/E ratio of 26.25, a PEG ratio of 1.71 and a beta of 1.31. The firm has a 50 day moving average of $24.53 and a 200 day moving average of $22.98. The company has a current ratio of 4.10, a quick ratio of 3.30 and a debt-to-equity ratio of 0.62. Element Solutions Inc. has a 52 week low of $16.77 and a 52 week high of $29.78.

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

Element Solutions Dividend Announcement

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