Assenagon Asset Management S.A. Grows Holdings in Element Solutions Inc. $ESI

Assenagon Asset Management S.A. raised its position in shares of Element Solutions Inc. (NYSE:ESI) by 221.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,196 shares of the company’s stock after purchasing an additional 241,266 shares during the quarter. Assenagon Asset Management S.A. owned 0.14% of Element Solutions worth $8,751,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ESI. Elevation Point Wealth Partners LLC purchased a new position in shares of Element Solutions in the second quarter worth $26,000. Farther Finance Advisors LLC increased its holdings in shares of Element Solutions by 154.8% in the third quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company’s stock worth $28,000 after purchasing an additional 678 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Element Solutions in the third quarter worth about $33,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Element Solutions in the third quarter worth about $41,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Element Solutions in the third quarter worth about $47,000. 92.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price target on shares of Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, January 26th. CJS Securities upgraded shares of Element Solutions to a “strong-buy” rating in a report on Thursday, December 11th. BMO Capital Markets upped their target price on shares of Element Solutions from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Truist Financial increased their price target on shares of Element Solutions from $33.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 price target on shares of Element Solutions in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $35.75.

Element Solutions Stock Down 1.9%

Element Solutions stock opened at $33.35 on Friday. The company has a quick ratio of 3.00, a current ratio of 3.68 and a debt-to-equity ratio of 0.60. The firm has a market cap of $8.12 billion, a P/E ratio of 42.22, a P/E/G ratio of 1.55 and a beta of 1.24. The business has a fifty day moving average of $32.00 and a two-hundred day moving average of $28.20. Element Solutions Inc. has a twelve month low of $16.77 and a twelve month high of $37.74.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Element Solutions had a net margin of 7.48% and a return on equity of 13.79%. The business had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $632.40 million. During the same period last year, the business earned $0.35 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.08 per share. The ex-dividend date was Monday, March 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Element Solutions’s dividend payout ratio is 40.51%.

Insider Activity

In related news, Director E Stanley Oneal sold 143,564 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $35.52, for a total value of $5,099,393.28. Following the completion of the transaction, the director directly owned 147,832 shares of the company’s stock, valued at $5,250,992.64. This trade represents a 49.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Element Solutions Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.