Verition Fund Management LLC Buys New Holdings in Element Solutions Inc (NYSE:ESI)

Verition Fund Management LLC bought a new stake in shares of Element Solutions Inc (NYSE:ESIGet Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,515 shares of the company’s stock, valued at approximately $624,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ESI. Marshall Wace LLP bought a new stake in Element Solutions during the 4th quarter valued at approximately $42,996,000. Clark Capital Management Group Inc. bought a new stake in Element Solutions in the 1st quarter worth approximately $29,866,000. Vanguard Group Inc. increased its stake in Element Solutions by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 20,627,823 shares of the company’s stock worth $451,749,000 after acquiring an additional 984,222 shares during the last quarter. Glenview Capital Management LLC increased its stake in Element Solutions by 30.9% in the 1st quarter. Glenview Capital Management LLC now owns 3,066,904 shares of the company’s stock worth $67,165,000 after acquiring an additional 723,303 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Element Solutions by 88.0% in the 1st quarter. First Trust Advisors LP now owns 1,466,618 shares of the company’s stock worth $32,119,000 after acquiring an additional 686,317 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Element Solutions Stock Performance

NYSE ESI opened at $17.29 on Friday. The company has a market cap of $4.24 billion, a P/E ratio of 26.60, a P/E/G ratio of 0.87 and a beta of 1.37. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.13. The business’s 50 day moving average price is $19.12 and its 200-day moving average price is $19.90. Element Solutions Inc has a fifty-two week low of $16.25 and a fifty-two week high of $26.92.

Element Solutions (NYSE:ESIGet Rating) last released its earnings results on Wednesday, July 27th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $677.00 million for the quarter, compared to the consensus estimate of $681.97 million. Element Solutions had a return on equity of 13.99% and a net margin of 6.15%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. Sell-side analysts predict that Element Solutions Inc will post 1.53 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, August 31st. Element Solutions’s payout ratio is currently 49.23%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays raised Element Solutions from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $24.00 to $22.00 in a research note on Monday, July 11th. StockNews.com raised Element Solutions from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Finally, Mizuho reduced their price objective on Element Solutions from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Element Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.25.

Element Solutions Company 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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