Legal & General Group Plc Invests $25.49 Million in Element Solutions Inc. $ESI

Key Points

• Legal & General Group acquired 533,864 shares of Element Solutions worth approximately $25.49 million, representing about 0.22% of the company. Institutional investors collectively own 92.32% of ESI.
• Analysts maintain a favorable outlook, with a consensus rating of “Buy” and an average price target of $44, compared with the stock’s recent price of $34.93.
• Element Solutions exceeded quarterly expectations, reporting $0.47 in EPS and $977.9 million in revenue, while revenue rose 56.4% year over year. The company also declared a quarterly dividend of $0.08 per share.

Legal & General Group Plc bought a new position in Element Solutions Inc. (NYSE:ESI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 533,864 shares of the company's stock, valued at approximately $25,492,000. Legal & General Group Plc owned approximately 0.22% of Element Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its stake in shares of Element Solutions by 7.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,524,090 shares of the company's stock worth $63,077,000 after purchasing an additional 174,228 shares during the last quarter. Hsbc Holdings PLC grew its stake in Element Solutions by 45.2% in the fourth quarter. Hsbc Holdings PLC now owns 189,883 shares of the company's stock worth $4,767,000 after purchasing an additional 59,154 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Element Solutions in the 2nd quarter worth about $8,363,000. Jennison Associates LLC increased its stake in shares of Element Solutions by 36.7% during the first quarter. Jennison Associates LLC now owns 2,977,958 shares of the company's stock valued at $101,667,000 after purchasing an additional 798,923 shares in the last quarter. Finally, Capital World Investors boosted its holdings in Element Solutions by 3.8% in the fourth quarter. Capital World Investors now owns 3,405,232 shares of the company's stock worth $85,097,000 after acquiring an additional 123,244 shares in the last quarter. 92.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Element Solutions from $47.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Wolfe Research set a $47.00 price target on Element Solutions in a research note on Wednesday, July 29th. Seaport Research Partners reissued a "buy" rating and set a $49.00 price objective on shares of Element Solutions in a research report on Tuesday, May 5th. William Blair set a $48.00 price objective on Element Solutions in a research note on Friday. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Element Solutions in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $44.00.

Element Solutions Price Performance

NYSE:ESI opened at $34.93 on Friday. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 47.20, a PEG ratio of 1.20 and a beta of 1.26. The business has a 50 day simple moving average of $39.43 and a 200-day simple moving average of $38.32. Element Solutions Inc. has a 1 year low of $22.86 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.47 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $873.19 million. During the same period in the previous year, the firm earned $0.20 earnings per share. Element Solutions's quarterly revenue was up 56.4% compared to the same quarter last year. Equities analysts forecast that Element Solutions Inc. will post 1.81 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Element Solutions's dividend payout ratio is 43.24%.

Element Solutions Company 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.

Want to see what other hedge funds are holding ESI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Element Solutions Inc. (NYSE:ESI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.