Principal Financial Group Inc. Purchases 21,341 Shares of Element Solutions Inc. $ESI

Principal Financial Group Inc. raised its position in Element Solutions Inc. (NYSE:ESI) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,102,078 shares of the company’s stock after purchasing an additional 21,341 shares during the quarter. Principal Financial Group Inc. owned 0.45% of Element Solutions worth $37,625,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of 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. lifted its stake in Element Solutions by 134.6% in 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 in the last quarter. Jain Global LLC boosted its position in Element Solutions by 253.3% during the 4th quarter. Jain Global LLC now owns 2,127,297 shares of the company’s stock worth $53,161,000 after acquiring an additional 1,525,195 shares during the last quarter. Victory Capital Management Inc. boosted its position in Element Solutions by 4,492.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,545,075 shares of the company’s stock worth $38,611,000 after acquiring an additional 1,511,430 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Element Solutions by 13.2% during 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 acquiring an additional 1,298,273 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on ESI shares. Truist Financial raised their target price on shares of Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Mizuho reissued a “neutral” rating and set a $45.00 price target (down from $54.00) on shares of Element Solutions in a research report on Tuesday. Seaport Research Partners restated a “buy” rating and set a $49.00 price objective on shares of Element Solutions in a research note on Tuesday, May 5th. Wall Street Zen upgraded Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. Finally, UBS Group lifted their target price on Element Solutions to $52.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Element Solutions presently has an average rating of “Buy” and an average price target of $43.00.

Element Solutions Stock Down 0.4%

ESI opened at $37.47 on Friday. The stock’s fifty day simple moving average is $42.64 and its 200 day simple moving average is $36.45. Element Solutions Inc. has a 1-year low of $22.63 and a 1-year high of $49.25. The stock has a market cap of $9.13 billion, a PE ratio of 60.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.23. The company has a current ratio of 2.68, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75.

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

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. Element Solutions’s payout ratio is presently 51.61%.

Element Solutions Company 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.