The Manufacturers Life Insurance Company Invests $3.25 Million in Element Solutions Inc. $ESI

The Manufacturers Life Insurance Company bought a new stake in Element Solutions Inc. (NYSE:ESI) during the 2nd quarter, HoldingsChannel reports. The fund bought 68,111 shares of the company’s stock, valued at approximately $3,252,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC raised its holdings in Element Solutions by 339.3% during the first quarter. Millennium Management LLC now owns 446,622 shares of the company’s stock worth $10,098,000 after purchasing an additional 344,950 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Element Solutions by 60.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,894,061 shares of the company’s stock valued at $42,825,000 after purchasing an additional 712,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Element Solutions by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 872,451 shares of the company’s stock valued at $19,726,000 after purchasing an additional 37,204 shares in the last quarter. Focus Partners Wealth purchased a new stake in Element Solutions in the 1st quarter valued at approximately $400,000. Finally, Amundi increased its position in Element Solutions by 258,233.3% during the 2nd quarter. Amundi now owns 93,000 shares of the company’s stock worth $2,237,000 after purchasing an additional 92,964 shares during the period. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Stock Performance

NYSE ESI opened at $34.30 on Wednesday. The business has a 50 day moving average price of $38.93 and a 200 day moving average price of $38.41. The company has a market capitalization of $8.36 billion, a P/E ratio of 46.35, a PEG ratio of 1.23 and a beta of 1.26. 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.

Element Solutions (NYSE:ESI) last posted its earnings results on Monday, July 27th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $977.90 million for the quarter, compared to the consensus estimate of $873.19 million. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.Element Solutions’s quarterly revenue was up 56.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. Sell-side analysts expect that Element Solutions Inc. will post 1.8 EPS for the current fiscal year.

Element Solutions Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wolfe Research set a $47.00 target price on Element Solutions in a research note on Wednesday, July 29th. Weiss Ratings raised Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Truist Financial increased 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. Bank of America assumed coverage on Element Solutions in a research report on Tuesday. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Seaport Research Partners reissued a “buy” rating and issued a $49.00 target price on shares of Element Solutions in a report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $45.00.

Element Solutions 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.