Driehaus Capital Management LLC Acquires Shares of 1,193,361 Element Solutions Inc (NYSE:ESI)

Driehaus Capital Management LLC purchased a new stake in shares of Element Solutions Inc (NYSE:ESI - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,193,361 shares of the company's stock, valued at approximately $32,364,000. Driehaus Capital Management LLC owned 0.49% of Element Solutions at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new position in shares of Element Solutions in the fourth quarter worth approximately $27,000. Assetmark Inc. lifted its stake in shares of Element Solutions by 1,585.0% in the fourth quarter. Assetmark Inc. now owns 2,022 shares of the company's stock worth $47,000 after buying an additional 1,902 shares in the last quarter. LRI Investments LLC bought a new position in shares of Element Solutions in the first quarter worth approximately $78,000. EverSource Wealth Advisors LLC lifted its stake in shares of Element Solutions by 39.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company's stock worth $82,000 after buying an additional 864 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in shares of Element Solutions by 14,600.0% in the second quarter. Quest Partners LLC now owns 3,234 shares of the company's stock worth $88,000 after buying an additional 3,212 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Price Performance

Shares of NYSE ESI traded down $0.01 during midday trading on Friday, reaching $27.01. The stock had a trading volume of 894,631 shares, compared to its average volume of 1,051,174. The stock has a 50-day moving average of $25.86 and a 200-day moving average of $25.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.60 and a current ratio of 3.50. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 50.02, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29. Element Solutions Inc has a 12-month low of $17.57 and a 12-month high of $28.68.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $613.00 million during the quarter, compared to analysts' expectations of $606.95 million. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, research analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.18%. Element Solutions's dividend payout ratio (DPR) is presently 59.26%.

Analysts Set New Price Targets

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

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.