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

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in shares of Element Solutions during the fourth quarter valued at approximately $28,000. Eagle Bay Advisors LLC raised its stake in shares of Element Solutions by 940.6% during 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 during the period. Covestor Ltd raised its stake in shares of Element Solutions by 311.3% during 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 during the period. Wells Fargo & Company MN raised its stake in shares of Element Solutions by 100.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock valued at $88,000 after purchasing an additional 1,739 shares during the period. Finally, Quarry LP raised its stake in shares of Element Solutions by 29.2% during the fourth quarter. Quarry LP now owns 7,792 shares of the company's stock valued at $198,000 after purchasing an additional 1,763 shares during the period. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Stock Down 1.2%

ESI stock opened at $24.92 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.10 and a quick ratio of 3.30. Element Solutions Inc. has a 1-year low of $16.77 and a 1-year high of $29.78. The firm has a fifty day moving average price of $23.44 and a two-hundred day moving average price of $23.06. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.64 and a beta of 1.26.

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

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid 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 1.3%. Element Solutions's payout ratio is presently 32.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. 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 research note on Friday, August 1st. Barclays dropped their price target on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. BMO Capital Markets dropped their price target on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, UBS Group lifted their price target on shares of Element Solutions from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Two equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $27.38.

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.

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