T. Rowe Price Investment Management Inc. trimmed its holdings in Element Solutions Inc. (NYSE:ESI - Free Report) by 0.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 about 3.96% of Element Solutions worth $217,020,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew 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 buying an additional 2,688,056 shares during the last quarter. London Co. of Virginia acquired a new position in Element Solutions in the fourth quarter valued at $29,800,000. Principal Financial Group Inc. grew its holdings in shares of Element Solutions by 1,431.1% during the first quarter. Principal Financial Group Inc. now owns 1,143,869 shares of the company's stock worth $25,863,000 after purchasing an additional 1,069,160 shares during the last quarter. Nuveen LLC purchased a new position in shares of Element Solutions during the first quarter worth about $20,041,000. Finally, Public Sector Pension Investment Board acquired a new stake in shares of Element Solutions during the first quarter worth about $15,976,000. Institutional investors and hedge funds own 92.32% of the company's stock.
Element Solutions Stock Performance
Element Solutions stock traded up $0.18 during trading hours on Tuesday, reaching $25.85. 257,093 shares of the stock were exchanged, compared to its average volume of 2,539,365. Element Solutions Inc. has a 52-week low of $16.77 and a 52-week high of $29.78. The stock has a market cap of $6.25 billion, a P/E ratio of 25.85, a P/E/G ratio of 1.69 and a beta of 1.26. 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 firm's 50 day moving average is $23.87 and its 200 day moving average is $23.02.
Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $625.20 million for the quarter, compared to analyst estimates of $587.45 million. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. The business's revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. Analysts predict that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.
Element Solutions Dividend Announcement
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Element Solutions's dividend payout ratio is 32.00%.
Analyst Ratings Changes
A number of brokerages recently issued reports on ESI. Barclays decreased their target price on Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Mizuho increased their price objective on Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of Element Solutions in a report on Tuesday, July 15th. KeyCorp upped their price target on shares of Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group increased their price target on shares of Element Solutions from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $27.38.
Check Out Our Latest Analysis on Element Solutions
Element Solutions 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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