Man Group plc Acquires New Holdings in Element Solutions Inc. $ESI

Man Group plc acquired a new position in Element Solutions Inc. (NYSE:ESI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,772 shares of the company’s stock, valued at approximately $1,422,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Element Solutions during the 2nd quarter worth about $1,317,663,000. Bank of New York Mellon Corp acquired a new stake in shares of Element Solutions in the 2nd quarter worth approximately $110,892,000. Invesco Ltd. boosted its holdings in shares of Element Solutions by 43.6% in the fourth quarter. Invesco Ltd. now owns 7,069,238 shares of the company’s stock valued at $176,660,000 after acquiring an additional 2,146,512 shares in the last quarter. Scopus Asset Management L.P. boosted its holdings in shares of Element Solutions by 134.6% in the second quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock valued at $77,602,000 after acquiring an additional 1,965,691 shares in the last quarter. Finally, Jain Global LLC increased its stake in shares of Element Solutions by 253.3% during the fourth quarter. Jain Global LLC now owns 2,127,297 shares of the company’s stock valued at $53,161,000 after acquiring an additional 1,525,195 shares during the period. Institutional investors own 92.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ESI shares. Jefferies Financial Group began coverage on Element Solutions in a research report on Wednesday. They issued a “buy” rating and a $55.00 target price for the company. Weiss Ratings upgraded Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Wolfe Research set a $47.00 price objective on Element Solutions in a research note on Wednesday, July 29th. Freedom Capmkts upgraded Element Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. Finally, Bank of America assumed coverage on Element Solutions in a research note on Tuesday. They set a “buy” rating and a $42.00 target price for the company. Four analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $46.00.

Element Solutions Stock Up 0.1%

ESI stock opened at $34.41 on Thursday. The firm has a market cap of $8.38 billion, a PE ratio of 46.50, a P/E/G ratio of 1.18 and a beta of 1.26. Element Solutions Inc. has a 12 month low of $22.86 and a 12 month high of $49.25. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11. The firm has a 50 day simple moving average of $38.69 and a 200 day simple moving average of $38.42.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $977.90 million for the quarter, compared to analyst estimates of $873.19 million. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The firm’s quarterly revenue was up 56.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. Equities research analysts forecast that Element Solutions Inc. will post 1.8 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

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

Element Solutions 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.