Wellington Management Group LLP Reduces Stake in Element Solutions Inc. $ESI

Wellington Management Group LLP lowered its position in Element Solutions Inc. (NYSE:ESI) by 36.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,488,343 shares of the company’s stock after selling 855,392 shares during the quarter. Wellington Management Group LLP’s holdings in Element Solutions were worth $71,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ESI. Empowered Funds LLC bought a new position in Element Solutions in the second quarter valued at about $11,536,000. United Capital Financial Advisors LLC purchased a new stake in shares of Element Solutions during the 2nd quarter valued at about $508,000. Jefferies Financial Group Inc. purchased a new stake in shares of Element Solutions during the 2nd quarter valued at about $2,693,000. Public Employees Retirement System of Ohio bought a new position in shares of Element Solutions in the 2nd quarter worth approximately $12,184,000. Finally, Corient Private Wealth LP purchased a new position in shares of Element Solutions in the second quarter worth approximately $19,674,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Trading Up 0.1%

Shares of ESI stock opened at $34.41 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.11 and a current ratio of 2.91. The stock has a fifty day simple moving average of $38.69 and a two-hundred day simple moving average of $38.42. The firm has a market capitalization of $8.38 billion, a PE ratio of 46.50, a PEG ratio of 1.18 and a beta of 1.26. Element Solutions Inc. has a 52-week low of $22.86 and a 52-week high of $49.25.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.47 EPS for the quarter, beating 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 business 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 earnings per share. The business’s revenue was up 56.4% on a year-over-year basis. On average, analysts predict that Element Solutions Inc. will post 1.8 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Element Solutions’s dividend payout ratio is presently 43.24%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. William Blair set a $48.00 target price on shares of Element Solutions in a report on Friday, August 28th. Truist Financial boosted their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Freedom Capmkts raised Element Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. Wolfe Research set a $47.00 price target on Element Solutions in a report on Wednesday, July 29th. Finally, Jefferies Financial Group started coverage on Element Solutions in a research report on Wednesday. They issued a “buy” rating and a $55.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Element Solutions presently has an average rating of “Buy” and an average target price of $46.00.

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.