Invesco Ltd. Reduces Position in Element Solutions Inc. $ESI

Key Points

• Invesco Ltd. reduced its holdings in Element Solutions Inc. by 19.2%, now owning approximately 3.73 million shares valued at $84.28 million.
• Element Solutions reported earnings per share of $0.37 for the quarter, exceeding expectations, with a revenue of $625.20 million.
• The company announced a quarterly dividend of $0.08 per share, reflecting an annualized yield of 1.3% and a payout ratio of 32.00%.

Invesco Ltd. cut its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 19.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,727,732 shares of the company's stock after selling 887,305 shares during the period. Invesco Ltd. owned about 1.54% of Element Solutions worth $84,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Element Solutions by 12.1% in the first quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company's stock valued at $563,732,000 after buying an additional 2,688,056 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in Element Solutions by 3.0% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,026,543 shares of the company's stock valued at $127,825,000 after buying an additional 146,570 shares in the last quarter. Locust Wood Capital Advisers LLC increased its holdings in Element Solutions by 15.9% in the first quarter. Locust Wood Capital Advisers LLC now owns 3,680,449 shares of the company's stock valued at $83,215,000 after buying an additional 505,983 shares in the last quarter. Capital World Investors increased its holdings in Element Solutions by 5.4% in the fourth quarter. Capital World Investors now owns 2,783,935 shares of the company's stock valued at $70,795,000 after buying an additional 142,295 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Element Solutions by 31.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,753,606 shares of the company's stock valued at $62,259,000 after buying an additional 651,251 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ESI shares. BMO Capital Markets cut their price objective on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Barclays cut their price objective on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, April 28th. UBS Group lifted their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 31st. KeyCorp lifted their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of Element Solutions in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $27.38.

Element Solutions Price Performance

Shares of ESI stock traded down $0.0850 on Thursday, reaching $24.9650. 1,099,192 shares of the company were exchanged, compared to its average volume of 1,909,586. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 1.63 and a beta of 1.26. The business has a 50-day moving average price of $23.69 and a 200 day moving average price of $23.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10. Element Solutions Inc. has a 1 year low of $16.77 and a 1 year high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. The business had revenue of $625.20 million during the quarter, compared to analysts' expectations of $587.45 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.3%. Element Solutions's dividend payout ratio is presently 32.00%.

About Element Solutions

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.