New York State Teachers Retirement System Acquires 66,916 Shares of Element Solutions Inc. (NYSE:ESI)

New York State Teachers Retirement System grew its position in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 1,961.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,328 shares of the company's stock after acquiring an additional 66,916 shares during the quarter. New York State Teachers Retirement System's holdings in Element Solutions were worth $1,590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its holdings in Element Solutions by 1.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company's stock worth $610,000 after buying an additional 423 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in Element Solutions by 4.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company's stock worth $287,000 after buying an additional 430 shares in the last quarter. Arizona State Retirement System grew its holdings in Element Solutions by 0.8% during the fourth quarter. Arizona State Retirement System now owns 66,761 shares of the company's stock worth $1,698,000 after buying an additional 545 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Element Solutions by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company's stock worth $2,502,000 after buying an additional 610 shares in the last quarter. Finally, KBC Group NV grew its holdings in Element Solutions by 7.1% during the first quarter. KBC Group NV now owns 10,319 shares of the company's stock worth $233,000 after buying an additional 681 shares in the last quarter. Institutional investors own 92.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Mizuho upped their price target on Element Solutions from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and cut their price objective for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. KeyCorp cut their price objective on Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Bank of America raised Element Solutions from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $29.00 to $24.00 in a research report on Tuesday, April 15th. Finally, BMO Capital Markets cut their price objective on Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Element Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.25.

Element Solutions Stock Performance

Shares of NYSE ESI traded up $0.46 during trading on Thursday, reaching $25.22. 235,958 shares of the stock traded hands, compared to its average volume of 2,023,460. The company has a 50-day moving average of $22.07 and a 200-day moving average of $23.33. The stock has a market capitalization of $6.11 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.95 and a quick ratio of 3.16. Element Solutions Inc. has a 52-week low of $16.77 and a 52-week high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 14.42% and a net margin of 11.56%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. Analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.08 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.27%. Element Solutions's dividend payout ratio (DPR) is 26.89%.

Element Solutions Company Profile

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.