Element Solutions Inc. (NYSE:ESI) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 12.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 261,062 shares of the company's stock after acquiring an additional 29,700 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of Element Solutions worth $5,903,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC acquired a new position in Element Solutions during the first quarter worth $734,000. Xponance Inc. lifted its holdings in shares of Element Solutions by 8.7% in the first quarter. Xponance Inc. now owns 11,529 shares of the company's stock valued at $261,000 after purchasing an additional 922 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Element Solutions by 28.4% during the 1st quarter. Cerity Partners LLC now owns 221,054 shares of the company's stock worth $4,998,000 after purchasing an additional 48,958 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Element Solutions by 9.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,064,465 shares of the company's stock worth $24,068,000 after purchasing an additional 87,491 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Element Solutions by 48.5% during the first quarter. Bank of New York Mellon Corp now owns 1,716,292 shares of the company's stock valued at $38,805,000 after purchasing an additional 560,346 shares during the period. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Stock Down 0.5%

Shares of ESI traded down $0.12 on Wednesday, reaching $24.42. The company's stock had a trading volume of 1,045,543 shares, compared to its average volume of 2,039,158. Element Solutions Inc. has a twelve month low of $16.77 and a twelve month high of $29.78. The firm has a fifty day moving average of $22.61 and a 200-day moving average of $23.25. The stock has a market capitalization of $5.92 billion, a PE ratio of 20.54, a PEG ratio of 1.76 and a beta of 1.23. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 0.64.

Element Solutions (NYSE:ESI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $593.70 million for the quarter, compared to analysts' expectations of $576.73 million. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Equities analysts predict that Element Solutions Inc. will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.31%. The ex-dividend date was Monday, June 2nd. Element Solutions's payout ratio is currently 26.89%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ESI. UBS Group increased their price target on shares of Element Solutions from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. BMO Capital Markets reduced their price target on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Mizuho boosted their price objective on shares of Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. KeyCorp upped their price target on shares of Element Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, Bank of America raised shares of Element Solutions from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Element Solutions has an average rating of "Moderate Buy" and an average target price of $27.13.

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.