London Co. of Virginia Acquires 44,203 Shares of Element Solutions Inc. $ESI

Key Points

• London Co. of Virginia increased its stake in Element Solutions by 4.4% in the first quarter, buying 44,203 additional shares and bringing its total holdings to 1,050,175 shares worth about $35.9 million.
• Element Solutions reported better-than-expected Q1 earnings, posting $0.41 EPS versus the $0.38 estimate and revenue of $840 million, well above analyst expectations of $710.5 million.
• The stock was down 2.3% in recent trading, but Wall Street sentiment remains positive overall, with a consensus Buy rating and an average price target of $43.

London Co. of Virginia boosted its stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,050,175 shares of the company's stock after purchasing an additional 44,203 shares during the quarter. London Co. of Virginia owned 0.43% of Element Solutions worth $35,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ESI. Assetmark Inc. raised its position in shares of Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company's stock valued at $27,000 after buying an additional 468 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Element Solutions during the fourth quarter worth about $28,000. Johnson Financial Group Inc. bought a new position in Element Solutions during the third quarter valued at about $47,000. Measured Wealth Private Client Group LLC acquired a new position in Element Solutions in the 3rd quarter valued at approximately $49,000. Finally, Quarry LP raised its holdings in Element Solutions by 27.3% in the 3rd quarter. Quarry LP now owns 2,011 shares of the company's stock valued at $51,000 after acquiring an additional 431 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Stock Down 2.3%

Shares of ESI opened at $37.44 on Friday. The company has a market capitalization of $9.12 billion, a P/E ratio of 60.38, a PEG ratio of 1.30 and a beta of 1.23. Element Solutions Inc. has a one year low of $22.63 and a one year high of $49.25. The business's 50 day simple moving average is $42.04 and its 200-day simple moving average is $36.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.68 and a quick ratio of 1.91.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.03. The firm had revenue of $840.00 million during the quarter, compared to analysts' expectations of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The business's revenue was up 41.5% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. As a group, sell-side analysts predict that Element Solutions Inc. will post 1.79 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Element Solutions's payout ratio is currently 51.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial boosted their price objective on Element Solutions from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Mizuho reaffirmed a "neutral" rating and issued a $45.00 target price (down from $54.00) on shares of Element Solutions in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Element Solutions from a "hold" rating to a "buy" rating in a research note on Monday, April 20th. UBS Group boosted their price target on shares of Element Solutions to $52.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, BMO Capital Markets increased their price objective on shares of Element Solutions from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $43.00.

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.

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