New York State Teachers Retirement System raised its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 1,961.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ESI. Proficio Capital Partners LLC purchased a new position in shares of Element Solutions during the 4th quarter worth $423,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Element Solutions by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company's stock worth $59,224,000 after purchasing an additional 29,253 shares during the period. Keybank National Association OH purchased a new position in shares of Element Solutions during the 4th quarter worth $295,000. Arizona State Retirement System grew its holdings in shares of Element Solutions by 0.8% during the 4th quarter. Arizona State Retirement System now owns 66,761 shares of the company's stock worth $1,698,000 after purchasing an additional 545 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Element Solutions during the 4th quarter worth $13,573,000. 92.32% of the stock is owned by institutional investors and hedge funds.
Element Solutions Stock Performance
NYSE:ESI traded down $0.40 during trading hours on Friday, reaching $24.70. 2,253,894 shares of the stock were exchanged, compared to its average volume of 2,033,772. 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 50 day simple moving average of $22.16 and a 200-day simple moving average of $23.33. Element Solutions Inc. has a 52 week low of $16.77 and a 52 week high of $29.78. The stock has a market capitalization of $5.99 billion, a P/E ratio of 20.76, a P/E/G ratio of 2.00 and a beta of 1.23.
Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly 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 the consensus estimate of $576.73 million. Element Solutions had a return on equity of 14.42% and a net margin of 11.56%. The business's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. As a group, sell-side analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.
Element Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 1.30%. The ex-dividend date of this dividend was Monday, June 2nd. Element Solutions's payout ratio is currently 26.89%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ESI. UBS Group increased their target price on Element Solutions from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday. Barclays dropped their price objective on Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group reduced their price objective on Element Solutions from $30.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. KeyCorp dropped their price target on Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Truist Financial upgraded 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. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.25.
Get Our Latest Analysis on Element Solutions
Element Solutions Company Profile
(
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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