Allspring Global Investments Holdings LLC Invests $3.55 Million in Element Solutions Inc. $ESI

Allspring Global Investments Holdings LLC purchased a new position in Element Solutions Inc. (NYSE:ESI) in the second quarter, Holdings Channel.com reports. The firm purchased 153,622 shares of the company’s stock, valued at approximately $3,553,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Element Solutions by 12.1% during the first quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company’s stock valued at $563,732,000 after buying an additional 2,688,056 shares during the period. Gates Capital Management Inc. grew its position in Element Solutions by 101.9% during the first quarter. Gates Capital Management Inc. now owns 5,424,745 shares of the company’s stock valued at $122,653,000 after buying an additional 2,738,250 shares during the period. Locust Wood Capital Advisers LLC grew its position in Element Solutions by 15.9% during the first quarter. Locust Wood Capital Advisers LLC now owns 3,680,449 shares of the company’s stock valued at $83,215,000 after buying an additional 505,983 shares during the period. AQR Capital Management LLC grew its position in Element Solutions by 131.0% during the first quarter. AQR Capital Management LLC now owns 2,861,197 shares of the company’s stock valued at $64,692,000 after buying an additional 1,622,819 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Element Solutions by 31.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,753,606 shares of the company’s stock valued at $62,259,000 after buying an additional 651,251 shares during the period. 92.32% of the stock is currently owned by institutional investors.

Element Solutions Price Performance

Element Solutions stock opened at $26.01 on Tuesday. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.69 and a beta of 1.31. The firm’s fifty day moving average is $25.72 and its 200 day moving average is $23.22. The company has a quick ratio of 3.30, a current ratio of 4.10 and a debt-to-equity ratio of 0.62. Element Solutions Inc. has a 52-week low of $16.77 and a 52-week high of $29.78.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $625.20 million for the quarter, compared to the consensus estimate of $587.45 million. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. Element Solutions’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Element Solutions’s payout ratio is 32.00%.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, EVP John Edward Capps sold 77,674 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $26.77, for a total transaction of $2,079,332.98. Following the transaction, the executive vice president owned 609,790 shares in the company, valued at $16,324,078.30. The trade was a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matthew Liebowitz sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total transaction of $1,327,500.00. Following the transaction, the executive vice president owned 57,353 shares in the company, valued at $1,522,722.15. This trade represents a 46.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,399 shares of company stock worth $4,492,561 over the last quarter. Insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

ESI has been the subject of several recent research reports. KeyCorp boosted their target price on shares of Element Solutions from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. UBS Group lifted their price target on shares of Element Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, October 6th. Fermium Researc raised shares of Element Solutions to a “strong-buy” rating in a report on Wednesday, September 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.75.

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.