Perpetual Ltd Acquires New Position in Element Solutions Inc (NYSE:ESI)

Perpetual Ltd bought a new position in shares of Element Solutions Inc (NYSE:ESI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,225 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Element Solutions by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 22,719,174 shares of the company’s stock worth $445,523,000 after acquiring an additional 1,035,756 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Element Solutions by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 4,684,109 shares of the company’s stock worth $108,390,000 after purchasing an additional 188,350 shares in the last quarter. Invesco Ltd. boosted its position in Element Solutions by 47.2% during the third quarter. Invesco Ltd. now owns 4,403,980 shares of the company’s stock worth $86,362,000 after purchasing an additional 1,412,706 shares in the last quarter. Glenview Capital Management LLC grew its holdings in Element Solutions by 35.2% in the fourth quarter. Glenview Capital Management LLC now owns 3,762,620 shares of the company’s stock valued at $87,067,000 after purchasing an additional 979,798 shares during the last quarter. Finally, Locust Wood Capital Advisers LLC increased its position in shares of Element Solutions by 5.9% in the fourth quarter. Locust Wood Capital Advisers LLC now owns 2,700,813 shares of the company’s stock valued at $62,497,000 after buying an additional 150,567 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Stock Performance

Shares of NYSE ESI opened at $27.22 on Friday. The company has a 50-day simple moving average of $24.36 and a 200-day simple moving average of $23.63. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.63 and a quick ratio of 2.69. The company has a market cap of $6.59 billion, a PE ratio of 50.40, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29. Element Solutions Inc has a 12 month low of $17.57 and a 12 month high of $27.86.

Element Solutions (NYSE:ESI) last announced its earnings results on Monday, April 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $575.00 million for the quarter, compared to analyst estimates of $588.17 million. Element Solutions had a net margin of 5.62% and a return on equity of 13.96%. Element Solutions’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. On average, equities analysts anticipate that Element Solutions Inc will post 1.43 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.08 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 1.18%. Element Solutions’s payout ratio is currently 59.26%.

Analysts Set New Price Targets

ESI has been the topic of several recent research reports. Barclays boosted their price objective on shares of Element Solutions from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $30.00 price target (up previously from $28.00) on shares of Element Solutions in a report on Wednesday, June 12th. The Goldman Sachs Group raised their price objective on shares of Element Solutions from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Wolfe Research started coverage on Element Solutions in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.60.

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.