Fifth Third Bancorp Boosts Stock Position in Element Solutions Inc. $ESI

Fifth Third Bancorp lifted its stake in Element Solutions Inc. (NYSE:ESI) by 2,818.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,543 shares of the company’s stock after purchasing an additional 66,194 shares during the quarter. Fifth Third Bancorp’s holdings in Element Solutions were worth $2,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESI. Iridian Asset Management LLC CT increased its stake in shares of Element Solutions by 37.2% in the 4th quarter. Iridian Asset Management LLC CT now owns 264,211 shares of the company’s stock worth $6,603,000 after acquiring an additional 71,686 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Element Solutions by 7.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,524,090 shares of the company’s stock worth $63,077,000 after purchasing an additional 174,228 shares during the last quarter. Peak Financial Advisors LLC raised its stake in Element Solutions by 282.4% during the fourth quarter. Peak Financial Advisors LLC now owns 79,797 shares of the company’s stock worth $1,994,000 after purchasing an additional 58,929 shares during the period. Hsbc Holdings PLC raised its stake in Element Solutions by 45.2% during the fourth quarter. Hsbc Holdings PLC now owns 189,883 shares of the company’s stock worth $4,767,000 after purchasing an additional 59,154 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Element Solutions by 221.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 350,196 shares of the company’s stock valued at $8,751,000 after purchasing an additional 241,266 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on ESI shares. Mizuho reaffirmed a “neutral” rating and set a $45.00 price target (down from $54.00) on shares of Element Solutions in a research report on Tuesday, July 14th. Wall Street Zen raised Element Solutions from a “hold” rating to a “buy” rating in a research note on Monday, April 20th. UBS Group increased their price target on Element Solutions to $52.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. 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 report on Thursday, July 9th. Finally, BMO Capital Markets lifted their price target on shares of Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $43.00.

Element Solutions Stock Up 4.7%

Shares of NYSE:ESI opened at $38.18 on Wednesday. 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 firm has a market capitalization of $9.30 billion, a PE ratio of 61.58, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23. The firm’s 50-day moving average is $42.35 and its two-hundred day moving average is $36.70. Element Solutions Inc. has a 1 year low of $22.63 and a 1 year high of $49.25.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, beating 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 business had revenue of $840.00 million during the quarter, compared to analyst estimates of $710.51 million. During the same quarter last year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. Analysts predict that Element Solutions Inc. will post 1.79 EPS for the current year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.08 per share. 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 0.8%. Element Solutions’s dividend payout ratio is currently 51.61%.

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.