GAMMA Investing LLC Increases Holdings in Element Solutions Inc. (NYSE:ESI)

GAMMA Investing LLC grew its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 2,339.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,420 shares of the company’s stock after acquiring an additional 35,886 shares during the period. GAMMA Investing LLC’s holdings in Element Solutions were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc boosted its holdings in shares of Element Solutions by 9,246.9% during the 1st quarter. Versant Capital Management Inc now owns 19,535 shares of the company’s stock valued at $442,000 after purchasing an additional 19,326 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Element Solutions during the first quarter worth approximately $317,000. 111 Capital purchased a new position in Element Solutions during the fourth quarter valued at approximately $300,000. Wealth Enhancement Advisory Services LLC increased its holdings in Element Solutions by 26.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,149 shares of the company’s stock valued at $716,000 after buying an additional 5,966 shares during the period. Finally, Park Square Financial Group LLC purchased a new position in Element Solutions during the fourth quarter valued at approximately $28,000. Institutional investors own 92.32% of the company’s stock.

Element Solutions Price Performance

Element Solutions stock opened at $21.45 on Wednesday. Element Solutions Inc. has a 52-week low of $16.77 and a 52-week high of $29.78. The company’s 50 day moving average is $20.84 and its two-hundred day moving average is $23.76. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 0.64. The firm has a market cap of $5.20 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The company had revenue of $593.70 million for the quarter, compared to the consensus estimate of $576.73 million. During the same period last year, the firm posted $0.34 EPS. Element Solutions’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts expect that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Monday, June 2nd. Element Solutions’s dividend payout ratio (DPR) is 26.89%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ESI. Truist Financial upgraded shares of Element Solutions from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $28.00 to $24.00 in a research note on Monday, April 14th. Wall Street Zen downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Bank of America upgraded shares of Element Solutions from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $29.00 to $24.00 in a research report on Tuesday, April 15th. BMO Capital Markets reduced their price target on shares of Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, KeyCorp reduced their price target on shares of Element Solutions from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Element Solutions currently has an average rating of “Moderate Buy” and an average price target of $25.75.

Element Solutions 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.