New York State Common Retirement Fund grew its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,062 shares of the company's stock after buying an additional 29,700 shares during the period. New York State Common Retirement Fund owned 0.11% of Element Solutions worth $5,903,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. TD Private Client Wealth LLC purchased a new stake in Element Solutions in the fourth quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in shares of Element Solutions in the 4th quarter valued at about $28,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Element Solutions in the 4th quarter valued at about $68,000. Wells Fargo & Company MN boosted its position in shares of Element Solutions by 100.5% in the 4th quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock valued at $88,000 after purchasing an additional 1,739 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Element Solutions by 11.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,644 shares of the company's stock valued at $169,000 after purchasing an additional 684 shares during the period. 92.32% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have commented on ESI. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. KeyCorp raised their target price on shares of Element Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Mizuho lifted their target price 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. UBS Group upped their price target on shares of Element Solutions from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. Two equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.13.
View Our Latest Stock Analysis on ESI
Element Solutions Stock Performance
Shares of NYSE ESI traded down $0.51 during mid-day trading on Thursday, hitting $23.70. 2,996,394 shares of the company were exchanged, compared to its average volume of 2,325,948. The stock has a 50 day simple moving average of $22.72 and a 200-day simple moving average of $23.25. Element Solutions Inc. has a 1-year low of $16.77 and a 1-year high of $29.78. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 0.64. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.74 and a beta of 1.23.
Element Solutions (NYSE:ESI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $593.70 million during 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 was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. On average, sell-side analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.
Element Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.35%. Element Solutions's payout ratio is currently 26.89%.
Element Solutions Profile
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Free Report)
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.
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