Synovus Financial Corp Raises Holdings in Element Solutions Inc. $ESI

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 boosted its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 26.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,087 shares of the company's stock after acquiring an additional 12,447 shares during the quarter. Synovus Financial Corp's holdings in Element Solutions were worth $1,336,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new position in Element Solutions during the 4th quarter valued at $28,000. SVB Wealth LLC purchased a new position in Element Solutions during the 1st quarter valued at $37,000. Eagle Bay Advisors LLC boosted its holdings in Element Solutions by 940.6% during the 1st quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company's stock valued at $52,000 after acquiring an additional 2,060 shares during the period. Covestor Ltd boosted its holdings in Element Solutions by 311.3% during the 1st quarter. Covestor Ltd now owns 3,126 shares of the company's stock valued at $71,000 after acquiring an additional 2,366 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in 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 during the period. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Stock Down 0.8%

Element Solutions stock traded down $0.20 during mid-day trading on Monday, reaching $25.71. 1,631,443 shares of the company were exchanged, compared to its average volume of 1,457,241. The business has a fifty day moving average of $24.30 and a 200 day moving average of $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. The firm has a market cap of $6.21 billion, a P/E ratio of 25.71, a PEG ratio of 1.68 and a beta of 1.31. Element Solutions Inc. has a 12-month low of $16.77 and a 12-month high of $29.78.

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

Analyst Ratings Changes

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

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.