Senator Investment Group LP Buys Shares of 725,000 Element Solutions Inc. $ESI

Senator Investment Group LP bought a new position in Element Solutions Inc. (NYSE:ESI) in the 2nd quarter, Holdings Channel reports. The firm bought 725,000 shares of the company’s stock, valued at approximately $34,619,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. increased its stake in shares of Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company’s stock valued at $27,000 after buying an additional 468 shares during the period. NewEdge Advisors LLC lifted its stake in Element Solutions by 57.4% in the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after acquiring an additional 346 shares during the period. Los Angeles Capital Management LLC bought a new position in Element Solutions during the 4th quarter worth about $28,000. Northwestern Mutual Wealth Management Co. bought a new position in Element Solutions during the 2nd quarter worth about $63,000. Finally, Allworth Financial LP purchased a new position in Element Solutions during the 2nd quarter valued at about $66,000. Institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Performance

Shares of Element Solutions stock opened at $34.93 on Monday. 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 50-day simple moving average of $39.43 and a two-hundred day simple moving average of $38.37. Element Solutions Inc. has a one year low of $22.86 and a one year high of $49.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.11 and a current ratio of 2.91.

Element Solutions (NYSE:ESI) last released its quarterly earnings results 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. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The business had revenue of $977.90 million for the quarter, compared to analysts’ expectations of $873.19 million. During the same period last year, the business earned $0.20 EPS. The company’s revenue was up 56.4% compared to the same quarter last year. Research analysts expect that Element Solutions Inc. will post 1.81 EPS for the current fiscal year.

Element Solutions Dividend Announcement

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

Analysts Set New Price Targets

ESI has been the subject of several recent research reports. BMO Capital Markets restated an “outperform” rating on shares of Element Solutions in a report on Tuesday, July 28th. Seaport Research Partners reissued a “buy” rating and set a $49.00 price objective on shares of Element Solutions in a report on Tuesday, May 5th. William Blair set a $48.00 price objective on shares of Element Solutions in a research note on Friday. Truist Financial upped their target price on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Mizuho reaffirmed a “neutral” rating and set a $45.00 target price (down from $54.00) on shares of Element Solutions in a research report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $44.00.

Element Solutions Company Profile

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.