Seven Eight Capital LP Invests $1.11 Million in Element Solutions Inc (NYSE:ESI)

Seven Eight Capital LP bought a new position in Element Solutions Inc (NYSE:ESI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 40,889 shares of the company’s stock, valued at approximately $1,109,000.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Element Solutions by 69.2% in the fourth quarter. Principal Financial Group Inc. now owns 29,674 shares of the company’s stock worth $687,000 after purchasing an additional 12,138 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Element Solutions by 4.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 15,721 shares of the company’s stock worth $364,000 after buying an additional 598 shares during the last quarter. Assetmark Inc. boosted its position in shares of Element Solutions by 1,585.0% in the fourth quarter. Assetmark Inc. now owns 2,022 shares of the company’s stock valued at $47,000 after acquiring an additional 1,902 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Element Solutions by 51.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,002 shares of the company’s stock worth $46,000 after acquiring an additional 684 shares during the last quarter. Finally, Chesapeake Capital Corp IL acquired a new position in Element Solutions during the 4th quarter valued at $1,068,000. Institutional investors own 92.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ESI shares. BMO Capital Markets restated an “outperform” rating and set a $30.00 price objective (up previously from $28.00) on shares of Element Solutions in a report on Wednesday, June 12th. UBS Group upped their price target on Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 24th. StockNews.com raised Element Solutions from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Mizuho upped their target price on Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Element Solutions from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Element Solutions Price Performance

Element Solutions stock opened at $25.61 on Friday. The business has a 50 day simple moving average of $25.97 and a 200 day simple moving average of $25.25. Element Solutions Inc has a one year low of $17.57 and a one year high of $28.68. The company has a market capitalization of $6.20 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.50 and a quick ratio of 2.60.

Element Solutions (NYSE:ESI) last posted its earnings results on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The business had revenue of $613.00 million for the quarter, compared to analyst estimates of $606.95 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions’s dividend payout ratio (DPR) is currently 59.26%.

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.