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

New York State Teachers Retirement System raised its position in Element Solutions Inc. (NYSE:ESI - Free Report) by 1,961.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 70,328 shares of the company's stock after acquiring an additional 66,916 shares during the period. New York State Teachers Retirement System's holdings in Element Solutions were worth $1,590,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Amalgamated Bank lifted its stake in shares of Element Solutions by 479.7% in the first quarter. Amalgamated Bank now owns 67,594 shares of the company's stock valued at $1,528,000 after purchasing an additional 55,933 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Element Solutions by 13.3% in the first quarter. QRG Capital Management Inc. now owns 28,196 shares of the company's stock valued at $638,000 after purchasing an additional 3,302 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Element Solutions in the first quarter valued at about $623,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Element Solutions by 110.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,102 shares of the company's stock valued at $1,336,000 after purchasing an additional 30,953 shares during the period. Finally, KBC Group NV lifted its stake in shares of Element Solutions by 7.1% in the first quarter. KBC Group NV now owns 10,319 shares of the company's stock valued at $233,000 after purchasing an additional 681 shares during the period. Institutional investors and hedge funds own 92.32% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ESI. Barclays reduced their price objective on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group cut their target price on shares of Element Solutions from $30.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Bank of America upgraded shares of Element Solutions from a "neutral" rating to a "buy" rating and cut their target price for the stock from $29.00 to $24.00 in a research report on Tuesday, April 15th. BMO Capital Markets cut their target price on shares of 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, Mizuho lifted their price target on shares of Element Solutions from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $26.25.

Element Solutions Stock Performance

NYSE:ESI traded down $0.40 during midday trading on Friday, reaching $24.70. The stock had a trading volume of 2,254,052 shares, compared to its average volume of 2,039,404. 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 1-year low of $16.77 and a 1-year high of $29.78. The firm's fifty day simple moving average is $22.23 and its 200-day simple moving average is $23.30. The stock has a market capitalization of $5.99 billion, a P/E ratio of 17.14, a PEG ratio of 1.99 and a beta of 1.23.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. Element Solutions had a return on equity of 14.42% and a net margin of 11.56%. Element Solutions's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. On average, equities research analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, June 2nd. Element Solutions's dividend payout ratio (DPR) is presently 26.89%.

Element Solutions 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.