Bank of New York Mellon Corp Purchases 76,652 Shares of Element Solutions Inc (NYSE:ESI)

Bank of New York Mellon Corp boosted its stake in Element Solutions Inc (NYSE:ESI - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,155,946 shares of the company's stock after buying an additional 76,652 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.48% of Element Solutions worth $29,396,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ESI. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Element Solutions by 4.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 5,209,130 shares of the company's stock valued at $132,468,000 after purchasing an additional 209,441 shares during the last quarter. State Street Corp grew its position in Element Solutions by 5.6% in the 3rd quarter. State Street Corp now owns 4,319,570 shares of the company's stock worth $117,320,000 after purchasing an additional 230,793 shares in the last quarter. Geode Capital Management LLC increased its stake in Element Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,541,513 shares of the company's stock valued at $96,216,000 after buying an additional 18,791 shares during the last quarter. Ilex Capital Partners UK LLP lifted its position in shares of Element Solutions by 162.7% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company's stock worth $67,085,000 after buying an additional 1,529,607 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Element Solutions by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,299,641 shares of the company's stock worth $62,458,000 after buying an additional 38,859 shares during the last quarter. 92.32% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial assumed coverage on Element Solutions in a research report on Tuesday, January 28th. They set a "hold" rating and a $28.00 price target for the company. Bank of America reaffirmed a "neutral" rating and set a $28.00 target price (down from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Barclays cut their price target on shares of Element Solutions from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. StockNews.com downgraded shares of Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets boosted their target price on shares of Element Solutions from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Element Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.14.

Element Solutions Stock Performance

NYSE ESI traded down $0.29 during trading on Wednesday, hitting $25.19. 2,455,411 shares of the company's stock traded hands, compared to its average volume of 1,774,822. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. The business has a 50 day moving average of $25.70 and a 200-day moving average of $26.36. Element Solutions Inc has a 12-month low of $23.10 and a 12-month high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $598.24 million. As a group, equities research analysts anticipate that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, March 3rd. Element Solutions's dividend payout ratio (DPR) is presently 31.37%.

Element Solutions Company Profile

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.