Principal Financial Group Inc. Has $37.62 Million Stake in Element Solutions Inc. $ESI

Principal Financial Group Inc. lifted its position in shares of Element Solutions Inc. (NYSE:ESI) by 2.0% during the first quarter, Holdings Channel.com reports. The firm owned 1,102,078 shares of the company’s stock after buying an additional 21,341 shares during the quarter. Principal Financial Group Inc.’s holdings in Element Solutions were worth $37,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ESI. Chicago Partners Investment Group LLC boosted its stake in Element Solutions by 19.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 18,285 shares of the company’s stock valued at $624,000 after purchasing an additional 2,968 shares during the period. Fifth Third Bancorp grew its holdings in Element Solutions by 2,818.0% in the 1st quarter. Fifth Third Bancorp now owns 68,543 shares of the company’s stock valued at $2,340,000 after buying an additional 66,194 shares in the last quarter. Granite Investment Partners LLC bought a new position in Element Solutions during the 1st quarter worth $7,240,000. Seelaus Asset Management LLC bought a new position in Element Solutions during the 1st quarter worth $208,000. Finally, Swedbank AB acquired a new stake in shares of Element Solutions during the first quarter worth $6,862,000. 92.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ESI shares. UBS Group boosted their target price on shares of Element Solutions to $52.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Truist Financial lifted their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Element Solutions in a report on Tuesday, May 19th. Mizuho restated a “neutral” rating and set a $45.00 target price (down from $54.00) on shares of Element Solutions in a research report on Tuesday. 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 equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $43.00.

Element Solutions Stock Performance

ESI opened at $37.47 on Friday. The firm has a market cap of $9.13 billion, a P/E ratio of 60.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.23. Element Solutions Inc. has a 52-week low of $22.63 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 2.68. The business’s fifty day moving average is $42.64 and its 200-day moving average is $36.45.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The company 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%.Element Solutions’s revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. Sell-side analysts expect that Element Solutions Inc. will post 1.79 EPS for the current fiscal year.

Element Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Element Solutions’s dividend payout ratio (DPR) 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.