US Bancorp DE Sells 17,394 Shares of Element Solutions Inc. (NYSE:ESI)

Key Points

• US Bancorp DE has reduced its stake in Element Solutions Inc. by 50.2%, selling 17,394 shares, and now holds 17,281 shares worth $391,000.
• Analysts have adjusted price targets for Element Solutions, with Goldman Sachs and Mizuho setting new targets at $27.00, while UBS Group raised theirs to $30.00, reflecting a generally positive outlook.
• Element Solutions reported a 2.0% increase in revenue year-over-year, with earnings per share of $0.37, exceeding analysts' expectations.

US Bancorp DE decreased its position in Element Solutions Inc. (NYSE:ESI - Free Report) by 50.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,281 shares of the company's stock after selling 17,394 shares during the period. US Bancorp DE's holdings in Element Solutions were worth $391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its holdings in Element Solutions by 1.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company's stock valued at $610,000 after acquiring an additional 423 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Element Solutions by 1.2% in the first quarter. Mackenzie Financial Corp now owns 45,210 shares of the company's stock valued at $1,022,000 after acquiring an additional 529 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Element Solutions by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company's stock valued at $2,502,000 after acquiring an additional 610 shares in the last quarter. KBC Group NV boosted its holdings in Element Solutions by 7.1% in the first quarter. KBC Group NV now owns 10,319 shares of the company's stock valued at $233,000 after acquiring an additional 681 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in Element Solutions by 5.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 15,696 shares of the company's stock valued at $399,000 after acquiring an additional 793 shares in the last quarter. Institutional investors own 92.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ESI shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a report on Tuesday, July 15th. Mizuho lifted their price target on shares of Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. UBS Group boosted their target price on shares of Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Barclays dropped their target price on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, KeyCorp boosted their target price on shares of Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.38.

Element Solutions Price Performance

Shares of NYSE:ESI opened at $25.50 on Thursday. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The business has a 50-day simple moving average of $23.30 and a two-hundred day simple moving average of $23.06. 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 has a market cap of $6.16 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.26.

Element Solutions (NYSE:ESI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%. The business had revenue of $625.20 million during the quarter, compared to analyst estimates of $587.45 million. During the same quarter in the previous year, the firm earned $0.36 EPS. Element Solutions's revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. Element Solutions's dividend payout ratio is presently 32.00%.

Element Solutions 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.

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