Element Solutions Inc. $ESI Shares Acquired by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in Element Solutions Inc. by 26.7% during the first quarter, bringing their total to 59,087 shares valued at approximately $1.34 million.
• Element Solutions declared a quarterly dividend of $0.08 per share, scheduled for payment on September 15th, with a current dividend yield of 1.2%.
• The company reported $0.37 earnings per share for the last quarter, exceeding analysts’ expectations, and had a revenue of $625.2 million, which is a 2.0% increase year-over-year.

Synovus Financial Corp increased its position in Element Solutions Inc. (NYSE:ESI - Free Report) by 26.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,087 shares of the company's stock after purchasing an additional 12,447 shares during the period. Synovus Financial Corp's holdings in Element Solutions were worth $1,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ESI. Park Square Financial Group LLC acquired a new position in Element Solutions in the fourth quarter worth about $28,000. SVB Wealth LLC acquired a new position in Element Solutions in the first quarter worth about $37,000. Eagle Bay Advisors LLC grew its stake in Element Solutions by 940.6% in 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 in the last quarter. Covestor Ltd grew its stake in Element Solutions by 311.3% in 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 in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Element Solutions by 100.5% in the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock worth $88,000 after acquiring an additional 1,739 shares during the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Trading Up 0.1%

Element Solutions stock opened at $25.70 on Wednesday. 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 cap of $6.21 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.67 and a beta of 1.26. Element Solutions Inc. has a 1 year low of $16.77 and a 1 year high of $29.78. The firm's 50 day moving average price is $23.96 and its two-hundred day moving average price is $23.04.

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

Element Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ESI shares. Mizuho raised their target price on shares of 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 target price on shares of Element Solutions from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. The Goldman Sachs Group reissued a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of Element Solutions in a report on Tuesday, July 15th. Finally, UBS Group raised their target price on shares of Element Solutions from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $27.38.

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.

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