Harbor Capital Advisors Inc. Acquires 57,308 Shares of Element Solutions Inc. $ESI

Key Points

• Harbor Capital Advisors Inc. increased its holdings in Element Solutions Inc. by 60.2% during Q2, owning approximately 152,519 shares valued at $3,455,000.
• Element Solutions reported $0.37 earnings per share for the latest quarter, exceeding consensus estimates, with revenues reaching $625.20 million.
• The company recently announced a quarterly dividend of $0.08, yielding 1.2%, with a dividend payout ratio of 32.00%.

Harbor Capital Advisors Inc. boosted its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 60.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,519 shares of the company's stock after acquiring an additional 57,308 shares during the quarter. Harbor Capital Advisors Inc. owned 0.06% of Element Solutions worth $3,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Park Square Financial Group LLC acquired a new stake in shares of Element Solutions in the 4th quarter valued at about $28,000. SVB Wealth LLC bought a new stake in shares of Element Solutions in the first quarter valued at about $37,000. Eagle Bay Advisors LLC lifted its holdings in shares of Element Solutions by 940.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company's stock valued at $52,000 after purchasing an additional 2,060 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Element Solutions by 311.3% in the first quarter. Covestor Ltd now owns 3,126 shares of the company's stock valued at $71,000 after purchasing an additional 2,366 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Element Solutions by 1,707.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 8,512 shares of the company's stock valued at $192,000 after purchasing an additional 8,041 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ESI shares. UBS Group boosted their price target on Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 31st. KeyCorp boosted their price target on Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Mizuho boosted their price target on shares of Element Solutions from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $27.38.

Element Solutions Stock Performance

Shares of ESI stock traded up $0.64 on Thursday, reaching $26.99. The stock had a trading volume of 2,670,265 shares, compared to its average volume of 1,639,305. The company has a quick ratio of 3.30, a current ratio of 4.10 and a debt-to-equity ratio of 0.62. The firm's 50-day moving average is $24.94 and its two-hundred day moving average is $23.04. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 1.72 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 issued its earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The company had revenue of $625.20 million for the quarter, compared to analysts' expectations of $587.45 million. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. Element Solutions's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts expect that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Element Solutions's dividend payout ratio is presently 32.00%.

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.