First Horizon Advisors Inc. Acquires 971 Shares of Element Solutions Inc (NYSE:ESI)

First Horizon Advisors Inc. raised its holdings in shares of Element Solutions Inc (NYSE:ESI) by 610.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,130 shares of the company’s stock after purchasing an additional 971 shares during the period. First Horizon Advisors Inc.’s holdings in Element Solutions were worth $29,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC raised its position in Element Solutions by 79.0% during the 4th quarter. Park Avenue Securities LLC now owns 60,612 shares of the company’s stock valued at $1,541,000 after purchasing an additional 26,753 shares during the last quarter. Cerity Partners LLC raised its position in Element Solutions by 40.4% during the 3rd quarter. Cerity Partners LLC now owns 172,000 shares of the company’s stock valued at $4,672,000 after purchasing an additional 49,466 shares during the last quarter. Entropy Technologies LP bought a new position in Element Solutions during the 4th quarter valued at approximately $433,000. Barclays PLC raised its position in Element Solutions by 96.0% during the 3rd quarter. Barclays PLC now owns 108,174 shares of the company’s stock valued at $2,938,000 after purchasing an additional 52,973 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Element Solutions by 549.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock valued at $43,983,000 after purchasing an additional 1,369,981 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Up 0.7 %

ESI stock opened at $26.12 on Friday. Element Solutions Inc has a twelve month low of $23.09 and a twelve month high of $29.78. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The firm has a market cap of $6.33 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.30. The business has a 50 day moving average of $25.76 and a 200 day moving average of $26.37.

Element Solutions (NYSE:ESI) last issued its earnings results on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business had revenue of $624.20 million for the quarter, compared to the consensus estimate of $598.24 million. On average, research analysts forecast that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.32 annualized dividend and a yield of 1.23%. Element Solutions’s dividend payout ratio is 31.37%.

Wall Street Analyst Weigh In

ESI has been the subject of several research reports. Barclays decreased their target price on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Truist Financial initiated coverage on Element Solutions in a research report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 target price for the company. BMO Capital Markets increased their target price on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. StockNews.com raised Element Solutions from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Bank of America reissued a “neutral” rating and issued a $28.00 target price (down previously from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.14.

About Element Solutions

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.