UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 70,399 Shares of Element Solutions Inc. $ESI

Key Points

• UBS Asset Management reduced its Element Solutions stake by 10.6% in the second quarter, selling 70,399 shares and retaining 596,417 shares valued at approximately $28.5 million. Institutional investors and hedge funds collectively own 92.32% of ESI.
• Analysts remain broadly positive, with the stock receiving an average “Buy” rating and a consensus price target of $46.00; recent targets range from $42 to $48.
• Element Solutions exceeded quarterly expectations, reporting $0.47 in earnings per share versus a $0.43 estimate and $977.9 million in revenue, up 56.4% year over year. The company also declared a quarterly dividend of $0.08 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 596,417 shares of the company's stock after selling 70,399 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.24% of Element Solutions worth $28,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of Element Solutions during the second quarter worth $11,536,000. United Capital Financial Advisors LLC acquired a new position in shares of Element Solutions during the second quarter valued at $508,000. Jefferies Financial Group Inc. bought a new position in shares of Element Solutions in the 2nd quarter valued at about $2,693,000. Public Employees Retirement System of Ohio acquired a new stake in Element Solutions during the 2nd quarter worth $12,184,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Element Solutions in the 2nd quarter valued at approximately $19,674,000. 92.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ESI has been the subject of several research analyst reports. Bank of America began coverage on shares of Element Solutions in a report on Tuesday. They issued a "buy" rating and a $42.00 price target for the company. William Blair set a $48.00 price objective on shares of Element Solutions in a research report on Friday, August 28th. Wolfe Research set a $47.00 price target on Element Solutions in a research note on Wednesday, July 29th. Truist Financial upped their target price on Element Solutions from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised Element Solutions from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 27th. Four analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $46.00.

Element Solutions Trading Up 1.4%

NYSE ESI opened at $34.92 on Friday. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 47.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a quick ratio of 2.11, a current ratio of 2.91 and a debt-to-equity ratio of 0.73. The business's fifty day moving average is $38.44 and its 200 day moving average is $38.44. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25.

Element Solutions (NYSE:ESI - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The business had revenue of $977.90 million for the quarter, compared to analysts' expectations of $873.19 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm's revenue was up 56.4% on a year-over-year basis. As a group, sell-side analysts expect that Element Solutions Inc. will post 1.81 EPS for the current fiscal year.

Element Solutions Dividend Announcement

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

Element Solutions Company 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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