Empowered Funds LLC Buys Shares of 241,599 Element Solutions Inc. $ESI

Empowered Funds LLC bought a new position in Element Solutions Inc. (NYSE:ESI) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 241,599 shares of the company’s stock, valued at approximately $11,536,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Element Solutions by 16.4% during the fourth quarter. Parallel Advisors LLC now owns 2,455 shares of the company’s stock valued at $61,000 after buying an additional 345 shares during the period. NewEdge Advisors LLC lifted its stake in Element Solutions by 57.4% in the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after acquiring an additional 346 shares during the period. MML Investors Services LLC grew its holdings in Element Solutions by 0.3% during the 4th quarter. MML Investors Services LLC now owns 125,877 shares of the company’s stock worth $3,146,000 after acquiring an additional 355 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Element Solutions by 3.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,450 shares of the company’s stock worth $357,000 after acquiring an additional 385 shares in the last quarter. Finally, Quarry LP increased its position in Element Solutions by 27.3% during the 3rd quarter. Quarry LP now owns 2,011 shares of the company’s stock valued at $51,000 after purchasing an additional 431 shares during the period. Institutional investors own 92.32% of the company’s stock.

Wall Street Analyst Weigh In

ESI has been the subject of several recent research reports. William Blair set a $48.00 price target on shares of Element Solutions in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Element Solutions in a report on Friday, August 14th. Seaport Research Partners reissued a “buy” rating and issued a $49.00 price objective on shares of Element Solutions in a research note on Tuesday, May 5th. BMO Capital Markets restated an “outperform” rating on shares of Element Solutions in a report on Tuesday, July 28th. Finally, Truist Financial lifted their price target on Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $44.00.

Element Solutions Stock Performance

Shares of ESI opened at $34.93 on Friday. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. The firm has a market cap of $8.51 billion, a PE ratio of 47.20, a P/E/G ratio of 1.20 and a beta of 1.26. Element Solutions Inc. has a 12 month low of $22.86 and a 12 month high of $49.25. The stock has a fifty day moving average price of $39.43 and a 200-day moving average price of $38.32.

Element Solutions (NYSE:ESI) last announced its earnings results on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The firm had revenue of $977.90 million for the quarter, compared to the consensus estimate of $873.19 million. During the same period in the previous year, the business earned $0.20 EPS. The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. Equities research analysts predict that Element Solutions Inc. will post 1.81 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. Element Solutions’s dividend payout ratio is 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.