533,864 Shares in Element Solutions Inc. $ESI Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in shares of Element Solutions Inc. (NYSE:ESI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 533,864 shares of the company’s stock, valued at approximately $25,492,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC increased its position in Element Solutions by 16.4% during the 4th quarter. Parallel Advisors LLC now owns 2,455 shares of the company’s stock valued at $61,000 after buying an additional 345 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Element Solutions by 57.4% during the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after purchasing an additional 346 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Element Solutions by 0.3% in the 4th quarter. MML Investors Services LLC now owns 125,877 shares of the company’s stock valued at $3,146,000 after buying an additional 355 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Element Solutions by 3.8% in the first quarter. EverSource Wealth Advisors LLC now owns 10,450 shares of the company’s stock valued at $357,000 after acquiring an additional 385 shares during the period. Finally, Quarry LP boosted its holdings in Element Solutions by 27.3% during the third quarter. Quarry LP now owns 2,011 shares of the company’s stock worth $51,000 after buying an additional 431 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Stock Performance

NYSE ESI opened at $34.93 on Friday. The company has a fifty day moving average of $39.43 and a two-hundred day moving average of $38.32. The company has a market capitalization of $8.51 billion, a PE ratio of 47.20, a P/E/G ratio of 1.20 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11. Element Solutions Inc. has a 1 year low of $22.86 and a 1 year high of $49.25.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $977.90 million during the quarter, compared to analysts’ expectations of $873.19 million. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. As a group, analysts expect that Element Solutions Inc. will post 1.81 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Element Solutions’s payout ratio is 43.24%.

Analysts Set New Price Targets

ESI has been the topic of several research analyst reports. Wolfe Research set a $47.00 price objective on Element Solutions in a report on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Element Solutions in a report on Friday, August 14th. Seaport Research Partners reiterated a “buy” rating and set a $49.00 price target on shares of Element Solutions in a report on Tuesday, May 5th. Truist Financial upped their price objective on Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, William Blair set a $48.00 price target on shares of Element Solutions in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $44.00.

About Element Solutions

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.