Envestnet Asset Management Inc. Increases Stock Position in Element Solutions Inc. (NYSE:ESI)

Envestnet Asset Management Inc. grew its stake in shares of Element Solutions Inc. (NYSE:ESI) by 9.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,064,465 shares of the company’s stock after buying an additional 87,491 shares during the period. Envestnet Asset Management Inc. owned 0.44% of Element Solutions worth $24,068,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. TD Private Client Wealth LLC purchased a new stake in Element Solutions during the 4th quarter worth $27,000. Park Square Financial Group LLC purchased a new stake in Element Solutions during the 4th quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new stake in Element Solutions during the 4th quarter worth $68,000. Wells Fargo & Company MN boosted its position in Element Solutions by 100.5% during the 4th quarter. Wells Fargo & Company MN now owns 3,469 shares of the company’s stock worth $88,000 after purchasing an additional 1,739 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Element Solutions by 53.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,649 shares of the company’s stock worth $144,000 after purchasing an additional 1,963 shares during the period. 92.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ESI. Truist Financial raised shares of Element Solutions from a “hold” rating to a “buy” rating and reduced their price target for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. BMO Capital Markets decreased their target price 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. Bank of America upgraded shares of Element Solutions from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $29.00 to $24.00 in a research note on Tuesday, April 15th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Element Solutions in a research report on Tuesday. Finally, Mizuho lifted their target price on Element Solutions from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

Element Solutions Stock Down 1.1%

Element Solutions stock opened at $24.21 on Wednesday. The firm has a fifty day moving average price of $22.37 and a two-hundred day moving average price of $23.29. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.95 and a quick ratio of 3.16. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 1.97 and a beta of 1.23.

Element Solutions (NYSE:ESI) last posted its earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $593.70 million for the quarter, compared to analysts’ expectations of $576.73 million. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.08 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.32%. Element Solutions’s payout ratio is 26.89%.

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.