Element Solutions Inc. $ESI Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of Element Solutions Inc. (NYSE:ESI) by 2,818.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,543 shares of the company’s stock after purchasing an additional 66,194 shares during the quarter. Fifth Third Bancorp’s holdings in Element Solutions were worth $2,340,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in Element Solutions by 43.6% during the fourth quarter. Invesco Ltd. now owns 7,069,238 shares of the company’s stock worth $176,660,000 after buying an additional 2,146,512 shares in the last quarter. Scopus Asset Management L.P. grew its position in shares of Element Solutions by 134.6% during the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock valued at $77,602,000 after acquiring an additional 1,965,691 shares during the period. Jain Global LLC grew its position in shares of Element Solutions by 253.3% during the 4th quarter. Jain Global LLC now owns 2,127,297 shares of the company’s stock valued at $53,161,000 after acquiring an additional 1,525,195 shares during the period. Victory Capital Management Inc. increased its stake in shares of Element Solutions by 4,492.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,545,075 shares of the company’s stock valued at $38,611,000 after purchasing an additional 1,511,430 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Element Solutions by 13.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,119,999 shares of the company’s stock worth $277,889,000 after purchasing an additional 1,298,273 shares during the period. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Stock Performance

Shares of NYSE:ESI opened at $38.18 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.68 and a quick ratio of 1.91. The business’s 50 day moving average price is $42.35 and its 200-day moving average price is $36.70. The firm has a market capitalization of $9.30 billion, a PE ratio of 61.58, a P/E/G ratio of 1.27 and a beta of 1.23. Element Solutions Inc. has a 1 year low of $22.63 and a 1 year high of $49.25.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $840.00 million during the quarter, compared to the consensus estimate of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The firm’s revenue was up 41.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. As a group, equities research analysts expect that Element Solutions Inc. will post 1.79 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.08 per share. The ex-dividend date was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. Element Solutions’s payout ratio is presently 51.61%.

Analysts Set New Price Targets

Several brokerages have commented on ESI. Wall Street Zen raised Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. Mizuho reiterated a “neutral” rating and set a $45.00 target price (down from $54.00) on shares of Element Solutions in a research report on Tuesday, July 14th. BMO Capital Markets lifted their price target on shares of Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Seaport Research Partners reissued a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a report on Tuesday, May 5th. Finally, Truist Financial increased their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $43.00.

About Element Solutions

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.