Element Solutions Inc. $ESI Position Reduced by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC reduced its position in shares of Element Solutions Inc. (NYSE:ESI) by 20.6% in the second quarter, HoldingsChannel.com reports. The firm owned 135,300 shares of the company’s stock after selling 35,182 shares during the period. Oliver Luxxe Assets LLC’s holdings in Element Solutions were worth $6,461,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Element Solutions by 10.7% in the second quarter. GAMMA Investing LLC now owns 12,313 shares of the company’s stock valued at $588,000 after buying an additional 1,187 shares during the period. Versant Capital Management Inc grew its holdings in Element Solutions by 5.1% during the second quarter. Versant Capital Management Inc now owns 9,013 shares of the company’s stock worth $430,000 after acquiring an additional 436 shares during the period. NewEdge Advisors LLC grew its holdings in Element Solutions by 57.4% during the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after acquiring an additional 346 shares during the period. Glenmede Trust Co. NA raised its position in Element Solutions by 2.8% in the first quarter. Glenmede Trust Co. NA now owns 48,559 shares of the company’s stock worth $1,658,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Argent Capital Management LLC bought a new stake in Element Solutions in the first quarter worth about $4,785,000. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Trading Down 1.3%

Shares of NYSE ESI opened at $37.94 on Friday. Element Solutions Inc. has a 12 month low of $22.86 and a 12 month high of $49.25. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 51.26, a P/E/G ratio of 1.31 and a beta of 1.26. The company has a quick ratio of 2.11, a current ratio of 2.91 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $41.25 and a 200-day simple moving average of $37.52.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $977.90 million for the quarter, compared to analysts’ expectations of $873.19 million. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.Element Solutions’s revenue was up 56.4% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. Sell-side analysts predict that Element Solutions Inc. will post 1.81 EPS for the current year.

Element Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 1st. Element Solutions’s dividend payout ratio (DPR) is presently 43.24%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ESI. UBS Group raised their price objective on shares of Element Solutions to $52.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Seaport Research Partners reiterated a “buy” rating and issued a $49.00 target price on shares of Element Solutions in a report on Tuesday, May 5th. Wall Street Zen raised shares of Element Solutions from a “hold” rating to a “buy” rating in a research note on Monday, April 20th. Truist Financial raised their target price on shares of Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Element Solutions in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $43.50.

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.