Point72 Asia Singapore Pte. Ltd. Buys Shares of 5,347 Element Solutions Inc (NYSE:ESI)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Element Solutions Inc (NYSE:ESI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,347 shares of the company’s stock, valued at approximately $145,000.

A number of other hedge funds have also made changes to their positions in the stock. Marshall Wace LLP boosted its position in Element Solutions by 149.2% during the second quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock worth $106,698,000 after purchasing an additional 2,355,554 shares during the period. Capital World Investors acquired a new stake in shares of Element Solutions in the first quarter worth $44,527,000. Glenview Capital Management LLC boosted its holdings in shares of Element Solutions by 35.2% during the 4th quarter. Glenview Capital Management LLC now owns 3,762,620 shares of the company’s stock worth $87,067,000 after buying an additional 979,798 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in shares of Element Solutions by 10,622.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 848,567 shares of the company’s stock worth $19,636,000 after buying an additional 840,653 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Element Solutions by 14.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,289,741 shares of the company’s stock worth $143,458,000 after acquiring an additional 676,432 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analyst Ratings Changes

ESI has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Element Solutions from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $30.00 target price (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. UBS Group raised their price objective on shares of Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, StockNews.com upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Element Solutions Stock Performance

ESI opened at $27.01 on Friday. The stock’s 50 day simple moving average is $25.86 and its 200-day simple moving average is $25.32. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.80. The stock has a market cap of $6.54 billion, a PE ratio of 50.02, a P/E/G ratio of 1.37 and a beta of 1.29. Element Solutions Inc has a 1 year low of $17.57 and a 1 year high of $28.68.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. Sell-side analysts forecast that Element Solutions Inc will post 1.45 EPS 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 yield of 1.18%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions’s dividend payout ratio is 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.