Point72 Asset Management L.P. Raises Position in Element Solutions Inc (NYSE:ESI)

Point72 Asset Management L.P. boosted its stake in Element Solutions Inc (NYSE:ESI - Free Report) by 124.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 425,444 shares of the company's stock after acquiring an additional 235,668 shares during the period. Point72 Asset Management L.P. owned 0.18% of Element Solutions worth $11,538,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in Element Solutions by 13.8% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company's stock worth $100,000 after purchasing an additional 448 shares during the period. QRG Capital Management Inc. increased its position in Element Solutions by 7.5% during the 2nd quarter. QRG Capital Management Inc. now owns 11,389 shares of the company's stock worth $309,000 after purchasing an additional 798 shares during the period. EverSource Wealth Advisors LLC increased 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 period. Treasurer of the State of North Carolina increased its position in Element Solutions by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 98,981 shares of the company's stock worth $2,290,000 after purchasing an additional 960 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Element Solutions by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,883 shares of the company's stock worth $1,380,000 after purchasing an additional 1,036 shares during the period. Institutional investors and hedge funds own 92.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ESI shares. The Goldman Sachs Group boosted their target price on Element Solutions from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Thursday, June 27th. BMO Capital Markets restated an "outperform" rating and issued a $30.00 price target (up previously from $28.00) on shares of Element Solutions in a report on Wednesday, June 12th. Mizuho upped their price target on Element Solutions from $28.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, June 12th. StockNews.com upgraded Element Solutions from a "hold" rating to a "buy" rating in a report on Tuesday, September 24th. Finally, UBS Group upped their price target on Element Solutions from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Element Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.

Element Solutions Price Performance

ESI stock traded down $0.39 on Tuesday, reaching $26.77. The company had a trading volume of 1,740,967 shares, compared to its average volume of 1,350,975. Element Solutions Inc has a 1 year low of $17.57 and a 1 year high of $28.68. 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's fifty day moving average is $25.85 and its 200 day moving average is $25.38. The company has a market cap of $6.48 billion, a P/E ratio of 49.85, a PEG ratio of 1.39 and a beta of 1.29.

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

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions's dividend payout ratio is presently 59.26%.

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.