Shellback Capital LP Acquires New Holdings in Element Solutions Inc (NYSE:ESI)

Shellback Capital LP bought a new position in Element Solutions Inc (NYSE:ESI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 273,196 shares of the company’s stock, valued at approximately $7,409,000.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in Element Solutions by 69.2% in the 4th quarter. Principal Financial Group Inc. now owns 29,674 shares of the company’s stock valued at $687,000 after buying an additional 12,138 shares during the last quarter. Assetmark Inc. increased 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 purchasing an additional 1,902 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Element Solutions by 1.0% in the fourth 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. TFO Wealth Partners LLC lifted its position in shares of Element Solutions by 116,142.9% during the 4th quarter. TFO Wealth Partners LLC now owns 8,137 shares of the company’s stock worth $188,000 after purchasing an additional 8,130 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in Element Solutions by 4.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 49,427 shares of the company’s stock valued at $1,144,000 after purchasing an additional 2,174 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Element Solutions from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. UBS Group upped their target price on shares of Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 24th. StockNews.com raised shares of Element Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. 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 report on Wednesday, June 12th. Finally, Mizuho increased their target price on shares of Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Element Solutions Trading Up 3.9 %

Shares of Element Solutions stock opened at $27.00 on Friday. Element Solutions Inc has a 52-week low of $17.57 and a 52-week high of $28.68. The firm has a market capitalization of $6.54 billion, a PE ratio of 50.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.50 and a quick ratio of 2.60. The company’s fifty day moving average price is $25.86 and its two-hundred day moving average price is $25.32.

Element Solutions (NYSE:ESI) last posted its earnings results 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 business had revenue of $613.00 million for 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 firm’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 earnings per share. On average, analysts expect that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 30th. This represents a $0.32 annualized dividend and a dividend yield of 1.19%. Element Solutions’s dividend payout ratio (DPR) is presently 59.26%.

Element Solutions 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.