Principal Financial Group Inc. boosted its holdings in Element Solutions Inc (NYSE:ESI - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,709 shares of the company's stock after purchasing an additional 11,702 shares during the period. Principal Financial Group Inc.'s holdings in Element Solutions were worth $1,900,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Zone Wealth Advisors LLC lifted its stake in Element Solutions by 2.3% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 173,546 shares of the company's stock valued at $4,413,000 after purchasing an additional 3,949 shares during the last quarter. Principal Securities Inc. lifted its stake in Element Solutions by 31.2% in the fourth quarter. Principal Securities Inc. now owns 29,217 shares of the company's stock valued at $743,000 after purchasing an additional 6,949 shares during the last quarter. Rhumbline Advisers lifted its stake in Element Solutions by 1.2% in the fourth quarter. Rhumbline Advisers now owns 221,051 shares of the company's stock valued at $5,621,000 after purchasing an additional 2,691 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Element Solutions during the 4th quarter valued at approximately $87,000. Finally, Equitable Trust Co. boosted its holdings in Element Solutions by 1.7% in the 4th quarter. Equitable Trust Co. now owns 34,103 shares of the company's stock worth $867,000 after buying an additional 576 shares during the period. Hedge funds and other institutional investors own 92.32% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on ESI. Bank of America reaffirmed a "neutral" rating and issued a $28.00 price target (down from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. BMO Capital Markets lifted their target price on Element Solutions from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Monday, December 16th. StockNews.com lowered Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Barclays reduced their target price on Element Solutions from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Finally, Truist Financial assumed coverage on Element Solutions in a report on Tuesday, January 28th. They set a "hold" rating and a $28.00 target price for the company. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.14.
Get Our Latest Research Report on Element Solutions
Element Solutions Price Performance
NYSE:ESI traded up $0.14 during midday trading on Friday, hitting $24.82. The company had a trading volume of 4,838,955 shares, compared to its average volume of 1,568,988. Element Solutions Inc has a 52-week low of $23.10 and a 52-week high of $29.78. The stock's fifty day moving average price is $25.71 and its 200-day moving average price is $26.36. The company has a market capitalization of $6.02 billion, a PE ratio of 24.33, a P/E/G ratio of 2.30 and a beta of 1.29. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76.
Element Solutions (NYSE:ESI - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (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 analyst estimates of $598.24 million. As a group, research analysts expect that Element Solutions Inc will post 1.45 earnings per share for the current year.
Element Solutions Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.29%. Element Solutions's dividend payout ratio is currently 31.37%.
About Element Solutions
(
Free Report)
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.
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