Peregrine Capital Management LLC Purchases 14,748 Shares of Element Solutions Inc. (NYSE:ESI)

Peregrine Capital Management LLC boosted its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 674,214 shares of the company's stock after purchasing an additional 14,748 shares during the quarter. Peregrine Capital Management LLC owned about 0.28% of Element Solutions worth $15,244,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Element Solutions by 18.6% during the 4th quarter. Principal Financial Group Inc. now owns 74,709 shares of the company's stock worth $1,900,000 after buying an additional 11,702 shares during the period. Sanctuary Advisors LLC acquired a new position in Element Solutions during the fourth quarter valued at approximately $395,000. Bank of New York Mellon Corp increased its stake in Element Solutions by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,155,946 shares of the company's stock valued at $29,396,000 after purchasing an additional 76,652 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Element Solutions by 3.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 62,165 shares of the company's stock worth $1,581,000 after purchasing an additional 1,869 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Element Solutions in the fourth quarter worth $423,000. Institutional investors and hedge funds own 92.32% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ESI. Bank of America raised shares of Element Solutions from a "neutral" rating to a "buy" rating and decreased their price target for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. Wall Street Zen cut Element Solutions from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. KeyCorp dropped their price target on Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets decreased their price objective on Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, UBS Group lowered their target price on Element Solutions from $31.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Element Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Element Solutions Stock Up 2.1%

Shares of ESI traded up $0.48 during mid-day trading on Tuesday, hitting $23.13. 2,136,538 shares of the company's stock were exchanged, compared to its average volume of 1,990,035. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.95 and a quick ratio of 3.16. Element Solutions Inc. has a 52 week low of $16.77 and a 52 week high of $29.78. The company has a market cap of $5.61 billion, a PE ratio of 19.44, a P/E/G ratio of 1.85 and a beta of 1.23. The company has a 50-day simple moving average of $21.57 and a 200 day simple moving average of $23.38.

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The firm had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. During the same period in the previous year, the business earned $0.34 EPS. The company's revenue was up 3.3% compared to the same quarter last year. On average, research analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.08 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.32 annualized dividend and a yield of 1.38%. Element Solutions's dividend payout ratio (DPR) is presently 26.89%.

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.