Royce & Associates LP Lowers Holdings in Element Solutions Inc. $ESI

Royce & Associates LP decreased its holdings in Element Solutions Inc. (NYSE:ESI) by 11.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,358,076 shares of the company’s stock after selling 316,913 shares during the period. Element Solutions makes up approximately 0.6% of Royce & Associates LP’s portfolio, making the stock its 20th biggest position. Royce & Associates LP’s holdings in Element Solutions were worth $58,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Community Bank N.A. purchased a new stake in Element Solutions in the 3rd quarter valued at about $33,000. Aster Capital Management DIFC Ltd purchased a new stake in Element Solutions in the 3rd quarter valued at about $41,000. Johnson Financial Group Inc. purchased a new stake in Element Solutions in the 3rd quarter valued at about $47,000. Measured Wealth Private Client Group LLC purchased a new stake in Element Solutions in the 3rd quarter valued at about $49,000. Finally, Quarry LP grew its holdings in Element Solutions by 27.3% in the 3rd quarter. Quarry LP now owns 2,011 shares of the company’s stock valued at $51,000 after buying an additional 431 shares during the period. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Performance

Element Solutions stock opened at $40.74 on Tuesday. The stock’s 50 day moving average price is $37.83 and its 200 day moving average price is $31.88. The firm has a market capitalization of $9.93 billion, a PE ratio of 65.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. 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 one year low of $20.80 and a one year high of $45.51.

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 firm had revenue of $840.00 million for the quarter, compared to analyst estimates of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.Element Solutions’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. As a group, sell-side analysts expect that Element Solutions Inc. will post 1.78 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.8%. Element Solutions’s payout ratio is 51.61%.

Analyst Upgrades and Downgrades

ESI has been the subject of several recent analyst reports. Seaport Research Partners restated a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a report on Tuesday, May 5th. Truist Financial lifted their price target on Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America lifted their price target on Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday, January 26th. Mizuho lifted their price target on Element Solutions from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Element Solutions in a report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Element Solutions presently has a consensus rating of “Buy” and an average target price of $39.57.

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.