T. Rowe Price Investment Management Inc. Trims Stock Position in Element Solutions Inc. $ESI

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Element Solutions Inc. by 0.9%, ending the quarter with 9,598,393 shares valued at $217 million.
• Analysts have generally upgraded their targets for Element Solutions, with Mizuho and Goldman Sachs setting new price targets of $27.00 while Barclays lowered theirs from $30.00 to $27.00.
• Element Solutions reported Q2 earnings of $0.37 per share, beating estimates, and generating revenue of $625.20 million, a 2% increase from the previous year.

T. Rowe Price Investment Management Inc. cut its stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,598,393 shares of the company's stock after selling 90,278 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.96% of Element Solutions worth $217,020,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ESI. Park Square Financial Group LLC bought a new position in shares of Element Solutions during the fourth quarter valued at approximately $28,000. Eagle Bay Advisors LLC boosted its stake in shares of Element Solutions by 940.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company's stock valued at $52,000 after purchasing an additional 2,060 shares in the last quarter. Covestor Ltd boosted its stake in shares of Element Solutions by 311.3% during the first quarter. Covestor Ltd now owns 3,126 shares of the company's stock valued at $71,000 after purchasing an additional 2,366 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Element Solutions by 100.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock valued at $88,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Element Solutions by 1,707.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 8,512 shares of the company's stock valued at $192,000 after purchasing an additional 8,041 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Stock Down 0.9%

ESI traded down $0.2450 during trading on Monday, hitting $25.6650. The stock had a trading volume of 456,573 shares, compared to its average volume of 2,550,471. The company has a market capitalization of $6.20 billion, a PE ratio of 25.66, a PEG ratio of 1.69 and a beta of 1.26. Element Solutions Inc. has a twelve month low of $16.77 and a twelve month high of $29.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10. The stock has a 50 day simple moving average of $23.79 and a two-hundred day simple moving average of $23.01.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $625.20 million during the quarter, compared to the consensus estimate of $587.45 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, research analysts predict that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The business also recently disclosed 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. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 2nd. Element Solutions's payout ratio is presently 32.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Barclays dropped their price objective on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. UBS Group increased their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. The Goldman Sachs Group reiterated a "neutral" rating and set a $27.00 price objective (up from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. Finally, KeyCorp increased their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Element Solutions presently has a consensus rating of "Buy" and a consensus target price of $27.38.

Element Solutions Company 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.