Cubist Systematic Strategies LLC Has $5.53 Million Stake in Element Solutions Inc. $ESI

Cubist Systematic Strategies LLC boosted its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 48.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,447 shares of the company’s stock after purchasing an additional 79,433 shares during the period. Cubist Systematic Strategies LLC owned 0.10% of Element Solutions worth $5,527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ESI. Gates Capital Management Inc. increased its holdings in Element Solutions by 101.9% during the 1st quarter. Gates Capital Management Inc. now owns 5,424,745 shares of the company’s stock valued at $122,653,000 after purchasing an additional 2,738,250 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Element Solutions by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company’s stock valued at $563,732,000 after buying an additional 2,688,056 shares during the period. London Co. of Virginia acquired a new stake in shares of Element Solutions in the 4th quarter valued at $29,800,000. Principal Financial Group Inc. increased its stake in shares of Element Solutions by 1,431.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,143,869 shares of the company’s stock valued at $25,863,000 after buying an additional 1,069,160 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Element Solutions in the 1st quarter valued at $20,041,000. 92.32% of the stock is owned by institutional investors and hedge funds.

Element Solutions Stock Down 1.3%

NYSE:ESI opened at $25.11 on Thursday. Element Solutions Inc. has a 12-month low of $16.77 and a 12-month high of $29.78. The company has a quick ratio of 3.30, a current ratio of 4.10 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $6.07 billion, a P/E ratio of 25.11, a P/E/G ratio of 1.68 and a beta of 1.31. The stock’s fifty day simple moving average is $24.41 and its 200-day simple moving average is $23.04.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The business had revenue of $625.20 million for the quarter, compared to analyst estimates of $587.45 million. During the same period last year, the company earned $0.36 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.32 annualized dividend and a yield of 1.3%. Element Solutions’s payout ratio is currently 32.00%.

Wall Street Analyst Weigh In

ESI has been the subject of several research reports. UBS Group lifted their target price on Element Solutions from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Mizuho lifted their target price on Element Solutions from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. KeyCorp lifted their target price on Element Solutions from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $27.00 target price (up from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $27.38.

Element Solutions Company 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.