Jennison Associates LLC Increases Holdings in Element Solutions Inc. $ESI

Jennison Associates LLC lifted its position in Element Solutions Inc. (NYSE:ESI) by 36.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,977,958 shares of the company’s stock after purchasing an additional 798,923 shares during the period. Jennison Associates LLC’s holdings in Element Solutions were worth $101,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Assetmark Inc. lifted its holdings in Element Solutions by 151.0% in the first quarter. Assetmark Inc. now owns 778 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Element Solutions during the 4th quarter valued at about $28,000. Johnson Financial Group Inc. purchased a new stake in shares of Element Solutions during the 3rd quarter valued at about $47,000. Measured Wealth Private Client Group LLC bought a new position in shares of Element Solutions in the 3rd quarter worth approximately $49,000. Finally, Quarry LP boosted its holdings in shares of Element Solutions by 27.3% in the third quarter. Quarry LP now owns 2,011 shares of the company’s stock worth $51,000 after buying an additional 431 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ESI shares. UBS Group upped their target price on shares of Element Solutions to $52.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Freedom Capital upgraded Element Solutions to a “strong-buy” rating in a research note on Friday, March 27th. BMO Capital Markets lifted their target price on Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Wall Street Zen raised Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. Finally, Truist Financial raised their price objective on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Three research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.00.

Element Solutions Stock Up 0.2%

ESI opened at $37.47 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 2.68. Element Solutions Inc. has a fifty-two week low of $22.63 and a fifty-two week high of $49.25. The firm’s fifty day moving average is $42.64 and its 200 day moving average is $36.52. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 60.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.23.

Element Solutions (NYSE:ESI) last issued its earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $710.51 million. During the same quarter in the prior year, the firm posted $0.34 EPS. Element Solutions’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, sell-side analysts forecast that Element Solutions Inc. will post 1.79 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. Element Solutions’s dividend payout ratio is 51.61%.

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.