Point72 Asset Management L.P. Has $11.54 Million Stake in Element Solutions Inc (NYSE:ESI)

Point72 Asset Management L.P. increased its stake in shares of Element Solutions Inc (NYSE:ESI) by 124.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,444 shares of the company’s stock after buying an additional 235,668 shares during the quarter. Point72 Asset Management L.P. owned about 0.18% of Element Solutions worth $11,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in Element Solutions by 69.2% in the 4th quarter. Principal Financial Group Inc. now owns 29,674 shares of the company’s stock valued at $687,000 after buying an additional 12,138 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of Element Solutions by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 98,981 shares of the company’s stock worth $2,290,000 after buying an additional 960 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in Element Solutions by 116,142.9% in the fourth quarter. TFO Wealth Partners LLC now owns 8,137 shares of the company’s stock valued at $188,000 after buying an additional 8,130 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Element Solutions by 4.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 49,427 shares of the company’s stock worth $1,144,000 after acquiring an additional 2,174 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Element Solutions by 10,622.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 848,567 shares of the company’s stock worth $19,636,000 after acquiring an additional 840,653 shares during the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Mizuho increased their target price on Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. BMO Capital Markets reissued an “outperform” rating and set a $30.00 target price (up from $28.00) on shares of Element Solutions in a report on Wednesday, June 12th. The Goldman Sachs Group raised their price target 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. StockNews.com raised Element Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Finally, UBS Group upped their price target on shares of Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Element Solutions Stock Performance

Shares of ESI stock opened at $27.16 on Tuesday. The company has a market capitalization of $6.58 billion, a P/E ratio of 49.98, a PEG ratio of 1.39 and a beta of 1.29. Element Solutions Inc has a fifty-two week low of $17.57 and a fifty-two week high of $28.68. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.60 and a current ratio of 3.50. The stock has a 50 day moving average price of $25.86 and a two-hundred day moving average price of $25.36.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $613.00 million for the quarter, compared to analyst estimates of $606.95 million. Element Solutions had a return on equity of 14.42% and a net margin of 8.24%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Analysts expect that Element Solutions Inc will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.18%. Element Solutions’s payout ratio is currently 59.26%.

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.