The Manufacturers Life Insurance Company Purchases New Position in Element Solutions Inc. $ESI

Key Points

• The Manufacturers Life Insurance Company acquired 68,111 shares of Element Solutions in the second quarter, valued at approximately $3.25 million. Institutional investors and hedge funds collectively own 92.32% of the company.
• Element Solutions reported quarterly earnings of $0.47 per share, beating estimates of $0.43, while revenue rose 56.4% year over year to $977.9 million. The company also declared a quarterly dividend of $0.08 per share, yielding about 0.9% annually.
• Shares recently traded at $34.30, down 3.5%, while analysts maintained a consensus “Buy” rating with an average price target of $45.00.

The Manufacturers Life Insurance Company purchased a new stake in Element Solutions Inc. (NYSE:ESI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,111 shares of the company's stock, valued at approximately $3,252,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in shares of Element Solutions by 151.0% in the 1st quarter. Assetmark Inc. now owns 778 shares of the company's stock valued at $27,000 after buying an additional 468 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Element Solutions during the 4th quarter worth $28,000. NewEdge Advisors LLC raised its stake in Element Solutions by 57.4% during the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company's stock worth $32,000 after acquiring an additional 346 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Element Solutions in the third quarter valued at $47,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Element Solutions in the third quarter valued at $49,000. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Trading Down 3.5%

NYSE ESI opened at $34.30 on Wednesday. The firm's fifty day moving average is $38.93 and its two-hundred day moving average is $38.41. Element Solutions Inc. has a one year low of $22.86 and a one year high of $49.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.11 and a current ratio of 2.91. The firm has a market cap of $8.36 billion, a PE ratio of 46.35, a P/E/G ratio of 1.23 and a beta of 1.26.

Element Solutions (NYSE:ESI - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The business had revenue of $977.90 million during the quarter, compared to the consensus estimate of $873.19 million. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The business's quarterly revenue was up 56.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Analysts expect that Element Solutions Inc. will post 1.8 earnings per share for the current year.

Element Solutions Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ESI shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Element Solutions in a report on Tuesday, July 28th. William Blair set a $48.00 target price on Element Solutions in a research report on Friday. Seaport Research Partners restated a "buy" rating and set a $49.00 price target on shares of Element Solutions in a research note on Tuesday, May 5th. Wolfe Research set a $47.00 price target on Element Solutions in a research note on Wednesday, July 29th. Finally, Mizuho reaffirmed a "neutral" rating and set a $45.00 price target (down from $54.00) on shares of Element Solutions in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $45.00.

About Element Solutions

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.