Principal Financial Group Inc. decreased its position in Element Solutions Inc (NYSE:ESI – Free Report) by 14.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,007 shares of the company’s stock after selling 10,802 shares during the quarter. Principal Financial Group Inc.’s holdings in Element Solutions were worth $1,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Element Solutions in the third quarter valued at $25,000. Quarry LP purchased a new position in shares of Element Solutions in the 2nd quarter worth $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of Element Solutions by 39.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock worth $82,000 after buying an additional 864 shares during the last quarter. Quest Partners LLC raised its position in shares of Element Solutions by 14,600.0% during the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock valued at $88,000 after buying an additional 3,212 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of Element Solutions in the 3rd quarter valued at about $113,000. 92.32% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on ESI shares. Seaport Res Ptn raised Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. Wolfe Research upgraded Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. BMO Capital Markets raised their price target on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Barclays increased their target price on shares of Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $31.40.
Read Our Latest Research Report on Element Solutions
Element Solutions Stock Performance
ESI stock opened at $25.32 on Friday. Element Solutions Inc has a twelve month low of $21.42 and a twelve month high of $29.78. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.51 and a beta of 1.28. The business’s fifty day simple moving average is $27.34 and its two-hundred day simple moving average is $26.63. The company has a quick ratio of 2.77, a current ratio of 3.52 and a debt-to-equity ratio of 0.78.
Element Solutions (NYSE:ESI – Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $645.00 million for the quarter, compared to the consensus estimate of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. Analysts predict that Element Solutions Inc will post 1.44 earnings per share for the current year.
Element Solutions Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.26%. Element Solutions’s payout ratio is 28.83%.
About Element Solutions
(Free Report)
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.
See Also
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