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

New York State Teachers Retirement System lifted its holdings in Element Solutions Inc. (NYSE:ESI - Free Report) by 1,961.2% in the 1st quarter, according to 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 period. New York State Teachers Retirement System's holdings in Element Solutions were worth $1,590,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ESI. Proficio Capital Partners LLC purchased a new position in shares of Element Solutions in the fourth quarter valued at $423,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Element Solutions by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company's stock valued at $59,224,000 after purchasing an additional 29,253 shares during the period. Keybank National Association OH bought a new position in Element Solutions during the 4th quarter valued at $295,000. Arizona State Retirement System boosted its stake in Element Solutions by 0.8% during the 4th quarter. Arizona State Retirement System now owns 66,761 shares of the company's stock valued at $1,698,000 after acquiring an additional 545 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Element Solutions during the 4th quarter valued at $13,573,000. Institutional investors and hedge funds own 92.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp reduced their price target on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets dropped their price objective 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. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and lowered their target price for the company from $28.00 to $24.00 in a research note on Monday, April 14th. UBS Group raised their target price on shares of Element Solutions from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Mizuho raised their target price on shares of Element Solutions from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $26.25.

Element Solutions Trading Up 1.5%

Shares of ESI traded up $0.36 during midday trading on Wednesday, hitting $24.75. The stock had a trading volume of 1,866,921 shares, compared to its average volume of 2,026,289. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The business has a 50-day simple moving average of $21.98 and a two-hundred day simple moving average of $23.32. The firm has a market cap of $6.00 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.01 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 announced 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. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The company had revenue of $593.70 million during the quarter, compared to analysts' expectations of $576.73 million. During the same period last year, the company posted $0.34 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, June 2nd. Element Solutions's payout ratio is presently 26.89%.

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.