Shellback Capital LP Makes New Investment in Element Solutions Inc (NYSE:ESI)

Shellback Capital LP purchased a new stake in Element Solutions Inc (NYSE:ESI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 273,196 shares of the company's stock, valued at approximately $7,409,000. Shellback Capital LP owned about 0.11% of Element Solutions as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in shares of Element Solutions during the fourth quarter worth $27,000. Assetmark Inc. lifted its holdings in shares of Element Solutions by 1,585.0% during the fourth quarter. Assetmark Inc. now owns 2,022 shares of the company's stock worth $47,000 after purchasing an additional 1,902 shares during the period. LRI Investments LLC bought a new stake in shares of Element Solutions in the first quarter worth $78,000. EverSource Wealth Advisors LLC raised its position in Element Solutions by 39.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company's stock worth $82,000 after purchasing an additional 864 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Element Solutions by 14,600.0% during the second quarter. Quest Partners LLC now owns 3,234 shares of the company's stock worth $88,000 after acquiring an additional 3,212 shares during the last quarter. Institutional investors own 92.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ESI shares. StockNews.com raised Element Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday. Mizuho boosted their target price on shares of Element Solutions from $28.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, June 12th. BMO Capital Markets reissued an "outperform" rating and set a $30.00 price objective (up previously from $28.00) on shares of Element Solutions in a research note on Wednesday, June 12th. UBS Group increased their price objective on Element Solutions from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, June 24th. Finally, The Goldman Sachs Group boosted their price objective on Element Solutions from $26.00 to $29.00 and gave the company a "neutral" rating in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $29.40.

Element Solutions Stock Down 0.0 %

NYSE:ESI traded down $0.01 during trading hours on Friday, reaching $27.01. The company's stock had a trading volume of 849,858 shares, compared to its average volume of 1,350,073. The stock has a 50 day moving average price of $25.86 and a two-hundred day moving average price of $25.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.60 and a current ratio of 3.50. Element Solutions Inc has a 12 month low of $17.57 and a 12 month high of $28.68. The company has a market capitalization of $6.54 billion, a P/E ratio of 50.02, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $613.00 million for the quarter, compared to analyst estimates of $606.95 million. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. Equities analysts predict that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.08 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.32 annualized dividend and a dividend yield of 1.18%. Element Solutions's dividend payout ratio (DPR) is 59.26%.

About Element Solutions

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.