Connor Clark & Lunn Investment Management Ltd. Takes $8.36 Million Position in Element Solutions Inc. $ESI

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Element Solutions Inc. (NYSE:ESI) during the second quarter, HoldingsChannel.com reports. The fund acquired 175,131 shares of the company’s stock, valued at approximately $8,363,000.

Other large investors have also recently modified their holdings of the company. Assetmark Inc. lifted its position in Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Element Solutions by 57.4% in the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after purchasing an additional 346 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Element Solutions during the fourth quarter worth $28,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Element Solutions during the second quarter worth $63,000. Finally, Allworth Financial LP purchased a new stake in shares of Element Solutions during the 2nd quarter valued at $66,000. Institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Performance

Shares of ESI stock opened at $35.92 on Thursday. The business has a fifty day moving average of $39.84 and a 200 day moving average of $38.30. Element Solutions Inc. has a 1 year low of $22.86 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 48.54, a price-to-earnings-growth ratio of 1.22 and a beta of 1.26.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The business had revenue of $977.90 million for the quarter, compared to the consensus estimate of $873.19 million. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s quarterly revenue was up 56.4% compared to the same quarter last year. As a group, research analysts expect that Element Solutions Inc. will post 1.81 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Element Solutions’s dividend payout ratio is 43.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ESI shares. Truist Financial raised their price objective on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Mizuho reiterated a “neutral” rating and issued a $45.00 price target (down from $54.00) on shares of Element Solutions in a research note on Tuesday, July 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Element Solutions in a report on Friday, August 14th. Seaport Research Partners restated a “buy” rating and set a $49.00 price target on shares of Element Solutions in a research note on Tuesday, May 5th. Finally, Wolfe Research set a $47.00 price objective on shares of Element Solutions in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus 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.