Wealth Enhancement Advisory Services LLC Acquires 30,953 Shares of Element Solutions Inc. (NYSE:ESI)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 110.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,102 shares of the company's stock after buying an additional 30,953 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Element Solutions were worth $1,336,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Element Solutions by 18.6% in the 4th quarter. Principal Financial Group Inc. now owns 74,709 shares of the company's stock valued at $1,900,000 after buying an additional 11,702 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Element Solutions during the fourth quarter worth $395,000. Bank of New York Mellon Corp lifted its stake in shares of Element Solutions by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,155,946 shares of the company's stock valued at $29,396,000 after acquiring an additional 76,652 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Element Solutions by 3.1% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 62,165 shares of the company's stock valued at $1,581,000 after acquiring an additional 1,869 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Element Solutions in the fourth quarter valued at about $423,000. Institutional investors own 92.32% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen cut Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Bank of America upgraded shares of Element Solutions from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $29.00 to $24.00 in a research report on Tuesday, April 15th. BMO Capital Markets cut their price objective on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Monday, April 14th. Finally, The Goldman Sachs Group dropped their target price on shares of Element Solutions from $30.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Element Solutions has a consensus rating of "Moderate Buy" and an average target price of $25.75.

Element Solutions Stock Up 2.2%

Shares of NYSE:ESI traded up $0.51 during midday trading on Wednesday, reaching $23.64. The company had a trading volume of 110,124 shares, compared to its average volume of 1,983,235. Element Solutions Inc. has a 1-year low of $16.77 and a 1-year high of $29.78. The stock has a market cap of $5.73 billion, a PE ratio of 19.81, a P/E/G ratio of 1.85 and a beta of 1.23. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 0.64. The business's 50 day moving average price is $21.57 and its 200 day moving average price is $23.38.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The firm had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.35%. Element Solutions's dividend payout ratio (DPR) is presently 26.89%.

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.