JPMorgan Chase & Co. Acquires 1,369,981 Shares of Element Solutions Inc (NYSE:ESI)

JPMorgan Chase & Co. raised its holdings in shares of Element Solutions Inc (NYSE:ESI) by 549.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,619,419 shares of the company’s stock after buying an additional 1,369,981 shares during the period. JPMorgan Chase & Co.’s holdings in Element Solutions were worth $43,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its stake in shares of Element Solutions by 149.2% during the 2nd quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock worth $106,698,000 after buying an additional 2,355,554 shares during the last quarter. Ilex Capital Partners UK LLP raised its holdings in Element Solutions by 162.7% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock valued at $67,085,000 after acquiring an additional 1,529,607 shares during the period. Driehaus Capital Management LLC bought a new position in Element Solutions in the 2nd quarter valued at about $32,364,000. Jennison Associates LLC acquired a new stake in Element Solutions during the third quarter worth approximately $21,889,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Element Solutions by 14.7% during the second 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. 92.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com upgraded Element Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th. Wolfe Research raised shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a research report on Friday, October 25th. Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. BMO Capital Markets boosted their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Barclays increased their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $31.40.

Element Solutions Trading Up 0.6 %

Shares of ESI opened at $25.32 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.77 and a current ratio of 3.52. Element Solutions Inc has a 52-week low of $21.42 and a 52-week high of $29.78. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.51 and a beta of 1.30. The business’s fifty day moving average is $27.34 and its 200-day moving average is $26.62.

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

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.32 annualized dividend and a yield of 1.26%. Element Solutions’s dividend payout ratio is presently 28.83%.

About Element Solutions

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.