Royce & Associates LP Lowers Holdings in Element Solutions Inc. $ESI

Royce & Associates LP trimmed its position in Element Solutions Inc. (NYSE:ESI) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,358,076 shares of the company’s stock after selling 316,913 shares during the period. Element Solutions makes up about 0.6% of Royce & Associates LP’s holdings, making the stock its 20th biggest position. Royce & Associates LP owned approximately 0.97% of Element Solutions worth $58,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ESI. Invesco Ltd. grew its position in Element Solutions by 68.6% in the 3rd quarter. Invesco Ltd. now owns 4,922,726 shares of the company’s stock valued at $123,905,000 after buying an additional 2,003,724 shares during the last quarter. Scopus Asset Management L.P. lifted its holdings in Element Solutions by 134.6% in the second 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 during the period. Thrivent Financial for Lutherans lifted its holdings in Element Solutions by 253.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,349,862 shares of the company’s stock valued at $59,146,000 after acquiring an additional 1,684,994 shares during the period. Merewether Investment Management LP acquired a new stake in Element Solutions in the second quarter valued at $28,031,000. Finally, Schroder Investment Management Group lifted its holdings in Element Solutions by 167.0% in the third quarter. Schroder Investment Management Group now owns 1,820,902 shares of the company’s stock valued at $45,486,000 after acquiring an additional 1,138,927 shares during the period. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ESI has been the subject of a number of recent analyst reports. Bank of America raised their target price on Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday, January 26th. BMO Capital Markets reissued an “outperform” rating on shares of Element Solutions in a report on Wednesday, May 20th. The Goldman Sachs Group reissued a “neutral” rating and issued a $37.00 target price on shares of Element Solutions in a report on Monday, February 23rd. Wall Street Zen raised Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. Finally, Truist Financial raised their target price on Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $39.57.

Element Solutions Trading Down 0.0%

Shares of ESI stock opened at $40.74 on Tuesday. The firm has a 50-day moving average price of $37.83 and a 200 day moving average price of $31.88. Element Solutions Inc. has a twelve month low of $20.80 and a twelve month high of $45.51. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 65.71, a PEG ratio of 1.42 and a beta of 1.27. 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 announced its earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $710.51 million. During the same quarter in the previous year, the company posted $0.34 EPS. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. Research analysts forecast that Element Solutions Inc. will post 1.78 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.8%. 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.