State of New Jersey Common Pension Fund D Has $2.64 Million Stock Position in Element Solutions Inc (NYSE:ESI)

State of New Jersey Common Pension Fund D lowered its stake in Element Solutions Inc (NYSE:ESIGet Rating) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,487 shares of the company’s stock after selling 6,234 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Element Solutions were worth $2,639,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Element Solutions during the fourth quarter valued at $25,159,000. Veracity Capital LLC bought a new position in shares of Element Solutions during the fourth quarter valued at $252,000. Equitable Trust Co. raised its stake in shares of Element Solutions by 45.2% during the fourth quarter. Equitable Trust Co. now owns 22,284 shares of the company’s stock valued at $541,000 after acquiring an additional 6,937 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Element Solutions during the fourth quarter valued at $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Element Solutions by 26.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,232 shares of the company’s stock valued at $710,000 after acquiring an additional 6,148 shares during the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.

Wall Street Analyst Weigh In

ESI has been the subject of a number of analyst reports. Mizuho lowered their target price on shares of Element Solutions from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Barclays raised shares of Element Solutions from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $24.00 to $22.00 in a research note on Monday, July 11th. Finally, StockNews.com raised shares of Element Solutions from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Element Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Element Solutions Trading Up 0.9 %

NYSE:ESI opened at $19.76 on Monday. The company has a current ratio of 3.04, a quick ratio of 2.24 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 0.88 and a beta of 1.40. The firm has a fifty day simple moving average of $19.16 and a two-hundred day simple moving average of $20.99. Element Solutions Inc has a 12 month low of $16.25 and a 12 month high of $26.92.

Element Solutions (NYSE:ESIGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $681.97 million. Element Solutions had a net margin of 7.00% and a return on equity of 13.72%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. Analysts expect that Element Solutions Inc will post 1.55 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, May 31st. Element Solutions’s dividend payout ratio is currently 44.44%.

Element Solutions Profile

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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.

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Institutional Ownership by Quarter for Element Solutions (NYSE:ESI)

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