State of New Jersey Common Pension Fund D Acquires 12,321 Shares of Element Solutions Inc. $ESI

State of New Jersey Common Pension Fund D boosted its holdings in Element Solutions Inc. (NYSE:ESI) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,237 shares of the company’s stock after buying an additional 12,321 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Element Solutions were worth $1,976,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its position in Element Solutions by 1.2% in the 1st quarter. Mackenzie Financial Corp now owns 45,210 shares of the company’s stock worth $1,022,000 after buying an additional 529 shares during the period. Maryland State Retirement & Pension System increased its position in Element Solutions by 0.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 76,026 shares of the company’s stock worth $1,722,000 after buying an additional 619 shares during the period. KBC Group NV increased its position in Element Solutions by 7.1% in the 1st quarter. KBC Group NV now owns 10,319 shares of the company’s stock worth $233,000 after buying an additional 681 shares during the period. Yousif Capital Management LLC increased its position in Element Solutions by 1.0% in the 2nd quarter. Yousif Capital Management LLC now owns 83,682 shares of the company’s stock worth $1,895,000 after buying an additional 828 shares during the period. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Element Solutions by 1.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the company’s stock worth $1,083,000 after purchasing an additional 900 shares in the last quarter. 92.32% of the stock is owned by institutional investors.

Element Solutions Stock Performance

Shares of NYSE:ESI opened at $25.96 on Friday. The business’s fifty day moving average price is $25.89 and its two-hundred day moving average price is $23.62. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.05 and a quick ratio of 3.30.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Element Solutions had a return on equity of 14.01% and a net margin of 9.58%.The firm had revenue of $656.10 million for the quarter, compared to analysts’ expectations of $645.13 million. During the same period in the prior year, the business posted $0.39 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. As a group, analysts predict that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. Element Solutions’s dividend payout ratio is 32.00%.

Wall Street Analysts Forecast Growth

ESI has been the topic of several recent research reports. KeyCorp lifted their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday. Mizuho set a $30.00 price target on shares of Element Solutions in a report on Wednesday. Bank of America boosted their price target on shares of Element Solutions from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. UBS Group boosted their price target on shares of Element Solutions from $32.00 to $33.00 and gave the company a “buy” rating in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Element Solutions in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.25.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, EVP Carey J. Dorman sold 40,725 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total value of $1,085,728.50. Following the sale, the executive vice president directly owned 214,837 shares in the company, valued at $5,727,554.42. This represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Liebowitz sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total value of $1,327,500.00. Following the completion of the sale, the executive vice president owned 57,353 shares in the company, valued at $1,522,722.15. This trade represents a 46.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 168,399 shares of company stock worth $4,492,561 over the last three months. Company insiders own 6.90% of the company’s stock.

Element Solutions Company Profile

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.