Northern Trust Corp Has $40.42 Million Holdings in Element Solutions Inc. $ESI

Key Points

• Northern Trust Corp increased its stake in Element Solutions Inc. by 14.4%, owning approximately 1.79 million shares valued at $40.4 million after acquiring additional shares in the first quarter.
• Element Solutions Inc. reported a quarterly earnings per share of $0.37, exceeding estimates, with a revenue of $625.20 million, marking a 2.0% increase from the same quarter last year.
• The company announced a quarterly dividend of $0.08 per share set to be paid on September 15th, which translates to an annualized yield of 1.2%.

Northern Trust Corp lifted its position in Element Solutions Inc. (NYSE:ESI - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,787,542 shares of the company's stock after acquiring an additional 224,758 shares during the quarter. Northern Trust Corp owned approximately 0.74% of Element Solutions worth $40,416,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Element Solutions by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company's stock valued at $563,732,000 after acquiring an additional 2,688,056 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Element Solutions by 3.0% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 5,026,543 shares of the company's stock valued at $127,825,000 after acquiring an additional 146,570 shares in the last quarter. Locust Wood Capital Advisers LLC lifted its position in shares of Element Solutions by 15.9% in the 1st quarter. Locust Wood Capital Advisers LLC now owns 3,680,449 shares of the company's stock valued at $83,215,000 after acquiring an additional 505,983 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Element Solutions by 31.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,753,606 shares of the company's stock valued at $62,259,000 after acquiring an additional 651,251 shares in the last quarter. Finally, Gates Capital Management Inc. lifted its position in shares of Element Solutions by 5.3% in the 4th quarter. Gates Capital Management Inc. now owns 2,686,495 shares of the company's stock valued at $68,318,000 after acquiring an additional 134,465 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ESI shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. UBS Group increased their target price on shares of Element Solutions from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Mizuho increased their target price on shares of Element Solutions from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, KeyCorp increased their target price on shares of Element Solutions from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $27.38.

Element Solutions Stock Down 0.8%

Shares of ESI traded down $0.20 during mid-day trading on Friday, hitting $25.71. 1,631,443 shares of the company's stock were exchanged, compared to its average volume of 1,457,241. The firm has a fifty day moving average of $24.22 and a two-hundred day moving average of $23.02. Element Solutions Inc. has a twelve month low of $16.77 and a twelve month high of $29.78. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a quick ratio of 3.30, a current ratio of 4.10 and a debt-to-equity ratio of 0.62.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. The company had revenue of $625.20 million for the quarter, compared to analyst estimates of $587.45 million. During the same quarter in the prior year, the business posted $0.36 EPS. Element Solutions's quarterly revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Element Solutions's dividend payout ratio is 32.00%.

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.