Envestnet Asset Management Inc. Decreases Stock Holdings in Element Solutions Inc (NYSE:ESI)

Envestnet Asset Management Inc. reduced its position in shares of Element Solutions Inc (NYSE:ESI) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 629,607 shares of the company’s stock after selling 79,608 shares during the period. Envestnet Asset Management Inc. owned about 0.26% of Element Solutions worth $17,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new stake in Element Solutions in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its position in Element Solutions by 51.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,002 shares of the company’s stock valued at $46,000 after acquiring an additional 684 shares during the last quarter. Assetmark Inc. lifted its position in 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 last quarter. Quest Partners LLC lifted its position in Element Solutions by 14,600.0% in the second quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock valued at $88,000 after acquiring an additional 3,212 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Element Solutions in the first quarter valued at $78,000. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Trading Up 0.4 %

Shares of ESI opened at $25.71 on Tuesday. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average is $25.93 and its two-hundred day moving average is $25.29. Element Solutions Inc has a twelve month low of $17.57 and a twelve month high of $28.68. The firm has a market capitalization of $6.22 billion, a P/E ratio of 47.61, a PEG ratio of 1.38 and a beta of 1.29.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating 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 company had revenue of $613.00 million for the quarter, compared to the consensus estimate of $606.95 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts predict that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions’s payout ratio is 59.26%.

Wall Street Analysts Forecast Growth

ESI has been the topic of a number of recent research reports. StockNews.com upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. UBS Group lifted their price objective on shares of Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Mizuho lifted their price objective on shares of Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. The Goldman Sachs Group lifted their price objective on shares of Element Solutions from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $30.00 price target (up from $28.00) on shares of Element Solutions in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.40.

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.