Bank of New York Mellon Corp Raises Stock Position in Element Solutions Inc. $ESI

Bank of New York Mellon Corp lifted its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 30.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,650,802 shares of the company’s stock after buying an additional 624,759 shares during the period. Bank of New York Mellon Corp’s holdings in Element Solutions were worth $90,498,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new stake in Element Solutions in the 4th quarter valued at $28,000. Johnson Financial Group Inc. acquired a new position in shares of Element Solutions during the third quarter worth about $47,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Element Solutions during the third quarter worth about $49,000. Quarry LP boosted its position 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 period. Finally, Clearstead Advisors LLC boosted its position in shares of Element Solutions by 1,051.6% in the fourth quarter. Clearstead Advisors LLC now owns 2,119 shares of the company’s stock worth $53,000 after buying an additional 1,935 shares during the period. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Stock Up 4.7%

Shares of Element Solutions stock opened at $38.18 on Wednesday. The business has a 50-day moving average of $42.35 and a 200-day moving average of $36.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.68 and a quick ratio of 1.91. The company has a market capitalization of $9.30 billion, a PE ratio of 61.58, a P/E/G ratio of 1.27 and a beta of 1.23. Element Solutions Inc. has a 1-year low of $22.63 and a 1-year high of $49.25.

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

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Element Solutions’s dividend payout ratio is presently 51.61%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Element Solutions in a report on Tuesday, May 19th. Mizuho restated a “neutral” rating and issued a $45.00 price target (down from $54.00) on shares of Element Solutions in a report on Tuesday, July 14th. Truist Financial increased their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. BMO Capital Markets lifted their price objective on shares of Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Finally, Freedom Capital upgraded shares of Element Solutions to a “strong-buy” rating in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $43.00.

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.