State of Alaska Department of Revenue Takes $2.79 Million Position in Element Solutions Inc. (NYSE:ESI)

State of Alaska Department of Revenue purchased a new stake in Element Solutions Inc. (NYSE:ESI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 123,445 shares of the company's stock, valued at approximately $2,791,000. State of Alaska Department of Revenue owned about 0.05% of Element Solutions as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. TD Private Client Wealth LLC acquired a new position in shares of Element Solutions in the 4th quarter valued at $27,000. Park Square Financial Group LLC acquired a new position in shares of Element Solutions in the 4th quarter valued at $28,000. First Horizon Advisors Inc. lifted its stake in shares of Element Solutions by 610.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock valued at $29,000 after purchasing an additional 971 shares during the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of Element Solutions in the 4th quarter valued at $48,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Element Solutions in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Price Performance

Shares of NYSE ESI opened at $21.50 on Friday. The stock's 50-day moving average is $21.01 and its two-hundred day moving average is $23.62. 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 company has a market cap of $5.21 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23.

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings results 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. Element Solutions had a return on equity of 14.42% and a net margin of 11.56%. The company had revenue of $593.70 million for the quarter, compared to the consensus estimate of $576.73 million. During the same quarter in the prior year, the business earned $0.34 EPS. Element Solutions's revenue was up 3.3% on a year-over-year basis. Analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.08 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.32 annualized dividend and a yield of 1.49%. Element Solutions's dividend payout ratio (DPR) is 26.89%.

Analyst Ratings Changes

ESI has been the topic of several research analyst reports. Mizuho boosted their price objective on Element Solutions from $23.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Wall Street Zen downgraded Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. UBS Group cut their price objective on Element Solutions from $31.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and cut their price objective for the company from $28.00 to $24.00 in a report on Monday, April 14th. Finally, Barclays cut 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. Two research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $25.75.

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.

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