State Street Corp Boosts Stake in Element Solutions Inc (NYSE:ESI)

State Street Corp raised its position in Element Solutions Inc (NYSE:ESI) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,319,570 shares of the company’s stock after purchasing an additional 230,793 shares during the quarter. State Street Corp’s holdings in Element Solutions were worth $117,320,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in shares of Element Solutions by 0.9% in the third quarter. US Bancorp DE now owns 46,005 shares of the company’s stock valued at $1,249,000 after purchasing an additional 417 shares during the period. Signaturefd LLC boosted its position in Element Solutions by 13.8% in the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock valued at $100,000 after buying an additional 448 shares during the period. Equitable Trust Co. grew its stake in shares of Element Solutions by 2.2% in the third quarter. Equitable Trust Co. now owns 33,527 shares of the company’s stock worth $911,000 after acquiring an additional 733 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Element Solutions by 39.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock worth $82,000 after acquiring an additional 864 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Element Solutions in the third quarter valued at $25,000. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Stock Down 1.9 %

ESI stock opened at $27.29 on Monday. The company’s 50 day moving average is $27.38 and its two-hundred day moving average is $26.55. Element Solutions Inc has a twelve month low of $21.42 and a twelve month high of $29.78. The company has a current ratio of 3.52, a quick ratio of 2.77 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.61 billion, a P/E ratio of 24.59, a PEG ratio of 1.51 and a beta of 1.28.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. Element Solutions’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. Research analysts expect that Element Solutions Inc will post 1.44 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.17%. Element Solutions’s dividend payout ratio is presently 28.83%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ESI shares. Wolfe Research upgraded Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. BMO Capital Markets upped their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on shares of Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Element Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.