Mackenzie Financial Corp Grows Position in Element Solutions Inc (NYSE:ESI)

Mackenzie Financial Corp raised its holdings in Element Solutions Inc (NYSE:ESI) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,435 shares of the company’s stock after purchasing an additional 1,215 shares during the period. Mackenzie Financial Corp’s holdings in Element Solutions were worth $391,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Element Solutions by 14.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,289,741 shares of the company’s stock worth $143,458,000 after buying an additional 676,432 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Element Solutions by 6.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 5,106,554 shares of the company’s stock worth $138,490,000 after acquiring an additional 315,645 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Element Solutions by 149.2% in the second quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock worth $106,698,000 after acquiring an additional 2,355,554 shares during the period. Glenview Capital Management LLC grew its position in shares of 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 in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Element Solutions by 16.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,061,060 shares of the company’s stock valued at $51,485,000 after purchasing an additional 298,668 shares during the period. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ESI shares. Mizuho raised their target price on Element Solutions from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. StockNews.com raised shares of Element Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group increased their target price 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. UBS Group boosted 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. Finally, 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Element Solutions Trading Up 0.6 %

Shares of Element Solutions stock opened at $26.43 on Friday. The company has a 50 day simple moving average of $25.82 and a two-hundred day simple moving average of $25.44. The firm has a market cap of $6.40 billion, a PE ratio of 48.94, a PEG ratio of 1.44 and a beta of 1.29. Element Solutions Inc has a 1 year low of $17.57 and a 1 year high of $28.68. 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 announced its earnings results on Monday, July 29th. The company reported $0.36 earnings per share (EPS) 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 company had revenue of $613.00 million during the quarter, compared to analyst estimates of $606.95 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts expect that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.21%. Element Solutions’s dividend payout ratio is 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.