Meiji Yasuda Asset Management Co Ltd. Purchases New Position in Element Solutions Inc. $ESI

Key Points

• Meiji Yasuda Asset Management acquired 117,418 shares of Element Solutions worth approximately $5.6 million, while institutional investors collectively own 92.32% of the company.
• Element Solutions exceeded quarterly expectations, reporting $0.47 in EPS versus the $0.43 consensus and $977.9 million in revenue, up 56.4% year over year.
• Analysts maintain a consensus “Buy” rating with an average price target of $43.50, while the company declared a quarterly dividend of $0.08 per share.

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 117,418 shares of the company's stock, valued at approximately $5,607,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Millennium Management LLC lifted its position in Element Solutions by 339.3% during the 1st quarter. Millennium Management LLC now owns 446,622 shares of the company's stock valued at $10,098,000 after acquiring an additional 344,950 shares during the period. Goldman Sachs Group Inc. grew its holdings in Element Solutions by 60.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,894,061 shares of the company's stock worth $42,825,000 after purchasing an additional 712,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Element Solutions by 4.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 872,451 shares of the company's stock valued at $19,726,000 after purchasing an additional 37,204 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Element Solutions during the first quarter valued at approximately $400,000. Finally, Amundi lifted its holdings in shares of Element Solutions by 258,233.3% during the second quarter. Amundi now owns 93,000 shares of the company's stock valued at $2,237,000 after purchasing an additional 92,964 shares during the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Stock Performance

ESI stock opened at $35.35 on Monday. The stock's 50 day simple moving average is $40.42 and its 200 day simple moving average is $38.16. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. Element Solutions Inc. has a 12-month low of $22.86 and a 12-month high of $49.25. The stock has a market capitalization of $8.61 billion, a PE ratio of 47.77, a price-to-earnings-growth ratio of 1.22 and a beta of 1.26.

Element Solutions (NYSE:ESI - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The business had revenue of $977.90 million during the quarter, compared to analyst estimates of $873.19 million. During the same quarter last year, the company earned $0.20 EPS. The company's quarterly revenue was up 56.4% compared to the same quarter last year. As a group, research analysts forecast that Element Solutions Inc. will post 1.81 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ESI. Mizuho restated a "neutral" rating and issued a $45.00 price target (down from $54.00) on shares of Element Solutions in a research note on Tuesday, July 14th. Wolfe Research set a $47.00 target price on Element Solutions in a research note on Wednesday, July 29th. Seaport Research Partners reaffirmed a "buy" rating and issued a $49.00 price target on shares of Element Solutions in a research report on Tuesday, May 5th. Truist Financial increased their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Finally, UBS Group raised their price objective on shares of Element Solutions to $52.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $43.50.

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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