Eagle Bay Advisors LLC Grows Stock Position in Element Solutions Inc. (NYSE:ESI)

Eagle Bay Advisors LLC grew its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 940.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,279 shares of the company’s stock after purchasing an additional 2,060 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Element Solutions were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Integrated Wealth Concepts LLC increased its position in shares of Element Solutions by 1.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company’s stock valued at $610,000 after purchasing an additional 423 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of Element Solutions by 4.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company’s stock valued at $287,000 after purchasing an additional 430 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Element Solutions by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company’s stock valued at $2,502,000 after acquiring an additional 610 shares during the period. KBC Group NV grew its stake in shares of Element Solutions by 7.1% during the 1st quarter. KBC Group NV now owns 10,319 shares of the company’s stock valued at $233,000 after acquiring an additional 681 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Element Solutions by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,644 shares of the company’s stock valued at $169,000 after acquiring an additional 684 shares during the period. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Trading Up 0.1%

Shares of ESI opened at $24.72 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.95 and a quick ratio of 3.16. Element Solutions Inc. has a 1 year low of $16.77 and a 1 year high of $29.78. The company has a 50 day simple moving average of $22.58 and a two-hundred day simple moving average of $23.27. The firm has a market cap of $5.99 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.79 and a beta of 1.23.

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

Element Solutions Dividend Announcement

The company 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 1.29%. Element Solutions’s dividend payout ratio is currently 26.89%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ESI. Barclays cut their price objective on Element Solutions from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group reiterated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of Element Solutions in a research note on Tuesday. BMO Capital Markets cut their price objective on Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. UBS Group upped their price target on Element Solutions from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, Mizuho increased their price objective on shares of Element Solutions from $24.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Two 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.13.

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.