Raymond James Financial Inc. Purchases Shares of 533,729 Element Solutions Inc (NYSE:ESI)

Raymond James Financial Inc. purchased a new stake in shares of Element Solutions Inc (NYSE:ESI) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 533,729 shares of the company’s stock, valued at approximately $13,573,000. Raymond James Financial Inc. owned about 0.22% of Element Solutions as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Park Avenue Securities LLC increased its holdings in shares of Element Solutions by 79.0% during the fourth quarter. Park Avenue Securities LLC now owns 60,612 shares of the company’s stock valued at $1,541,000 after acquiring an additional 26,753 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Element Solutions by 40.4% during the third quarter. Cerity Partners LLC now owns 172,000 shares of the company’s stock valued at $4,672,000 after acquiring an additional 49,466 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Element Solutions by 18.6% during the fourth quarter. Principal Financial Group Inc. now owns 74,709 shares of the company’s stock valued at $1,900,000 after acquiring an additional 11,702 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Element Solutions during the fourth quarter valued at about $433,000. Finally, Barclays PLC increased its holdings in shares of Element Solutions by 96.0% during the third quarter. Barclays PLC now owns 108,174 shares of the company’s stock valued at $2,938,000 after acquiring an additional 52,973 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Trading Down 0.3 %

Element Solutions stock opened at $26.23 on Thursday. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. Element Solutions Inc has a 12 month low of $23.10 and a 12 month high of $29.78. The stock’s 50 day simple moving average is $25.76 and its two-hundred day simple moving average is $26.35. The firm has a market cap of $6.36 billion, a PE ratio of 25.72, a P/E/G ratio of 2.30 and a beta of 1.29.

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $598.24 million. Analysts anticipate 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 Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 annualized dividend and a yield of 1.22%. Element Solutions’s dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

ESI has been the topic of several recent analyst reports. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. BMO Capital Markets increased their price target on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Barclays cut their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Truist Financial assumed coverage on shares of Element Solutions in a report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price target on the stock. Finally, Bank of America reiterated a “neutral” rating and issued a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.14.

About Element Solutions

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.