Lord Abbett & CO. LLC Purchases 32,486 Shares of Element Solutions Inc. $ESI

Key Points

• Lord Abbett & CO. LLC increased its stake in Element Solutions Inc. by 11.3% in the first quarter, owning approximately 0.13% of the company, valued at $7.26 million.
• Several hedge funds saw significant increases in their holdings, with Amalgamated Bank boosting its position by 479.7% during the same period.
• Wall Street analysts project growth for Element Solutions, with target prices ranging from $27.00 to $30.00 and an average rating of "Moderate Buy".

Lord Abbett & CO. LLC raised its holdings in Element Solutions Inc. (NYSE:ESI - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 321,007 shares of the company's stock after acquiring an additional 32,486 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.13% of Element Solutions worth $7,258,000 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 bought a new stake in shares of Element Solutions during the 4th quarter valued at about $28,000. Eagle Bay Advisors LLC lifted its stake in 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 buying an additional 2,060 shares during the period. Covestor Ltd boosted its holdings in shares of Element Solutions by 311.3% during the 1st quarter. Covestor Ltd now owns 3,126 shares of the company's stock worth $71,000 after buying an additional 2,366 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Element Solutions by 100.5% during the 4th quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock worth $88,000 after buying an additional 1,739 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Element Solutions by 1,707.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 8,512 shares of the company's stock worth $192,000 after buying an additional 8,041 shares during the period. 92.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ESI shares. KeyCorp increased their target price on shares of Element Solutions from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Mizuho upped their price objective on shares of Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Barclays reduced their target price on 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 decreased their target price on Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Element Solutions currently has an average rating of "Buy" and a consensus price target of $27.38.

Element Solutions Stock Down 0.3%

Shares of NYSE:ESI traded down $0.0850 during mid-day trading on Thursday, hitting $24.9650. 631,259 shares of the company traded hands, compared to its average volume of 2,567,680. Element Solutions Inc. has a 12-month low of $16.77 and a 12-month high of $29.78. The company has a current ratio of 4.10, a quick ratio of 3.30 and a debt-to-equity ratio of 0.62. The stock has a market cap of $6.03 billion, a P/E ratio of 24.98, a P/E/G ratio of 1.63 and a beta of 1.26. The stock has a 50-day moving average price of $23.63 and a two-hundred day moving average price of $23.04.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, beating 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 company had revenue of $625.20 million for the quarter, compared to analyst estimates of $587.45 million. During the same period last year, the firm earned $0.36 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current year.

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.