Element Solutions Inc. (NYSE:ESI) Stake Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Element Solutions Inc. (NYSE:ESI) by 14.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,442 shares of the company’s stock after acquiring an additional 7,122 shares during the period. Victory Capital Management Inc.’s holdings in Element Solutions were worth $1,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Element Solutions by 31.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,753,606 shares of the company’s stock valued at $62,259,000 after purchasing an additional 651,251 shares during the last quarter. CWM LLC lifted its stake in Element Solutions by 156.4% during the first quarter. CWM LLC now owns 69,680 shares of the company’s stock valued at $1,575,000 after purchasing an additional 42,500 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Element Solutions during the first quarter valued at approximately $2,372,000. New York State Common Retirement Fund lifted its stake in Element Solutions by 12.8% during the first quarter. New York State Common Retirement Fund now owns 261,062 shares of the company’s stock valued at $5,903,000 after purchasing an additional 29,700 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in Element Solutions during the first quarter valued at approximately $734,000. 92.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ESI. Bank of America raised shares of Element Solutions from a “neutral” rating to a “buy” rating and cut their target price for the company from $29.00 to $24.00 in a research note on Tuesday, April 15th. Truist Financial upgraded shares of Element Solutions from a “hold” rating to a “buy” rating and reduced their price target for the company from $28.00 to $24.00 in a research report on Monday, April 14th. UBS Group upped their price target on shares of Element Solutions from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. 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, The Goldman Sachs Group restated a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.13.

Element Solutions Stock Performance

NYSE:ESI opened at $23.17 on Thursday. Element Solutions Inc. has a 1 year low of $16.77 and a 1 year high of $29.78. The firm’s fifty day simple moving average is $22.84 and its 200 day simple moving average is $23.20. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $5.62 billion, a PE ratio of 19.47, a PEG ratio of 1.71 and a beta of 1.23.

Element Solutions (NYSE:ESI) last posted its earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $625.20 million for the quarter, compared to analyst estimates of $587.45 million. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. Element Solutions’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. On average, sell-side analysts anticipate that Element Solutions Inc. will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, June 2nd. Element Solutions’s payout ratio is 26.89%.

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.