Public Employees Retirement System of Ohio Invests $12.18 Million in Element Solutions Inc. $ESI

Key Points

• Public Employees Retirement System of Ohio bought 255,153 shares of Element Solutions valued at approximately $12.18 million, while institutional investors collectively own 92.32% of the company.
• Element Solutions reported quarterly EPS of $0.47, beating estimates of $0.43, with revenue rising 56.4% year over year to $977.9 million.
• Analysts maintain a consensus “Buy” rating with a $44.00 price target; the company also declared a quarterly dividend of $0.08 per share, representing a 0.9% yield.

Public Employees Retirement System of Ohio purchased a new position in Element Solutions Inc. (NYSE:ESI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 255,153 shares of the company's stock, valued at approximately $12,184,000. Public Employees Retirement System of Ohio owned about 0.10% of Element Solutions at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Corient Private Wealth LP acquired a new stake in Element Solutions in the second quarter worth $19,674,000. Bank of America Corp DE bought a new position in shares of Element Solutions during the second quarter worth about $47,689,000. Man Group plc bought a new position in shares of Element Solutions during the second quarter worth about $1,422,000. Jupiter Topco LLC bought a new stake in Element Solutions in the 2nd quarter valued at about $4,798,000. Finally, Hsbc Holdings PLC bought a new stake in Element Solutions in the 2nd quarter valued at about $238,000. 92.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Element Solutions from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday. William Blair set a $48.00 price objective on Element Solutions in a report on Friday. Mizuho reaffirmed a "neutral" rating and set a $45.00 target price (down from $54.00) on shares of Element Solutions in a research note on Tuesday, July 14th. Truist Financial upped their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Finally, Wolfe Research set a $47.00 target price on shares of Element Solutions in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $44.00.

Element Solutions Stock Performance

Shares of ESI opened at $34.93 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 47.20, a PEG ratio of 1.20 and a beta of 1.26. Element Solutions Inc. has a one year low of $22.86 and a one year high of $49.25. The company has a 50-day moving average of $39.43 and a two-hundred day moving average of $38.37.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The firm had revenue of $977.90 million during the quarter, compared to analyst estimates of $873.19 million. During the same quarter last year, the business posted $0.20 EPS. The company's revenue was up 56.4% on a year-over-year basis. On average, equities research analysts expect that Element Solutions Inc. will post 1.81 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Element Solutions's dividend payout ratio (DPR) is 43.24%.

Element Solutions Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company's solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.

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