Element Solutions Inc. $ESI Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Element Solutions stake by 27.7% in the first quarter, bringing its holdings to 130,449 shares valued at approximately $4.45 million. Institutional investors and hedge funds own 92.32% of the company.
• Element Solutions reported quarterly EPS of $0.47, exceeding estimates by $0.04, while revenue rose 56.4% year over year to $977.9 million. Analysts expect $1.81 in EPS for the current fiscal year.
• The company pays a quarterly dividend of $0.08, equivalent to an annualized yield of 0.8%. Analysts maintain a consensus “Buy” rating with an average price target of $43.50.

Royal Bank of Canada lifted its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 27.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,449 shares of the company's stock after buying an additional 28,316 shares during the period. Royal Bank of Canada owned about 0.05% of Element Solutions worth $4,453,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Assetmark Inc. grew its holdings in Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company's stock worth $27,000 after acquiring an additional 468 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Element Solutions in the fourth quarter valued at $28,000. Johnson Financial Group Inc. acquired a new stake in Element Solutions in the third quarter valued at $47,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Element Solutions during the 3rd quarter worth $49,000. Finally, Quarry LP boosted its position in shares of Element Solutions by 27.3% during the 3rd quarter. Quarry LP now owns 2,011 shares of the company's stock worth $51,000 after purchasing an additional 431 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Element Solutions Stock Performance

Shares of ESI opened at $39.01 on Friday. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. The stock has a market cap of $9.51 billion, a P/E ratio of 52.72, a PEG ratio of 1.33 and a beta of 1.26. The company has a 50-day moving average of $40.92 and a two-hundred day moving average of $37.84. Element Solutions Inc. has a 12-month low of $22.86 and a 12-month high of $49.25.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The company had revenue of $977.90 million for the quarter, compared to the consensus estimate of $873.19 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The company's revenue for the quarter was up 56.4% compared to the same quarter last year. As a group, research analysts predict that Element Solutions Inc. will post 1.81 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. Element Solutions's dividend payout ratio is presently 43.24%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ESI. UBS Group increased their price target on shares of Element Solutions to $52.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Mizuho reissued a "neutral" rating and set a $45.00 price objective (down from $54.00) on shares of Element Solutions in a report on Tuesday, July 14th. Weiss Ratings restated a "hold (c)" rating on shares of Element Solutions in a research report on Tuesday, May 19th. Wall Street Zen raised shares of Element Solutions from a "hold" rating to a "buy" rating in a report on Monday, April 20th. Finally, Seaport Research Partners reiterated a "buy" rating and set a $49.00 price target on shares of Element Solutions in a research report on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $43.50.

Element Solutions Profile

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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