Element Solutions Inc. $ESI Stake Raised by California State Teachers Retirement System

California State Teachers Retirement System lifted its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 26.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,831 shares of the company’s stock after buying an additional 57,216 shares during the period. California State Teachers Retirement System’s holdings in Element Solutions were worth $9,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. increased its position in Element Solutions by 43.6% in the 4th 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 during the period. Scopus Asset Management L.P. raised its stake in Element Solutions by 134.6% during the 2nd 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. Jain Global LLC boosted its position in Element Solutions by 253.3% during the 4th quarter. Jain Global LLC now owns 2,127,297 shares of the company’s stock worth $53,161,000 after acquiring an additional 1,525,195 shares during the period. Victory Capital Management Inc. boosted its position in Element Solutions by 4,492.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,545,075 shares of the company’s stock worth $38,611,000 after acquiring an additional 1,511,430 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Element Solutions by 13.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,119,999 shares of the company’s stock worth $277,889,000 after purchasing an additional 1,298,273 shares in the last quarter. 92.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ESI shares. UBS Group raised their price target on Element Solutions to $52.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Truist Financial upped their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. BMO Capital Markets reiterated an “outperform” rating on shares of Element Solutions in a research report on Tuesday, July 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Element Solutions in a research note on Tuesday, May 19th. Finally, Seaport Research Partners reissued a “buy” rating and set a $49.00 target price on shares of Element Solutions in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $43.50.

Element Solutions Stock Performance

ESI opened at $37.70 on Tuesday. The business has a 50 day moving average price of $41.59 and a two-hundred day moving average price of $37.32. 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 company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 50.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26. Element Solutions Inc. has a 1-year low of $22.86 and a 1-year high of $49.25.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The firm had revenue of $977.90 million for the quarter, compared to analysts’ expectations of $873.19 million. During the same period in the previous year, the business earned $0.20 earnings per share. Element Solutions’s revenue for the quarter was up 56.4% compared to the same quarter last year. Research analysts predict that Element Solutions Inc. will post 1.79 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 1st. Element Solutions’s dividend payout ratio (DPR) 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.