Envestnet Asset Management Inc. Purchases 87,491 Shares of Element Solutions Inc. (NYSE:ESI)

Envestnet Asset Management Inc. lifted its stake in shares of Element Solutions Inc. (NYSE:ESI) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,064,465 shares of the company’s stock after acquiring an additional 87,491 shares during the period. Envestnet Asset Management Inc.’s holdings in Element Solutions were worth $24,068,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. TD Private Client Wealth LLC bought a new position in Element Solutions in the fourth quarter valued at $27,000. Park Square Financial Group LLC bought a new position in Element Solutions in the fourth quarter valued at $28,000. Aster Capital Management DIFC Ltd bought a new position in Element Solutions in the fourth quarter valued at $68,000. Wells Fargo & Company MN lifted its stake in Element Solutions by 100.5% in the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company’s stock valued at $88,000 after acquiring an additional 1,739 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Element Solutions by 53.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,649 shares of the company’s stock valued at $144,000 after acquiring an additional 1,963 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ESI. BMO Capital Markets cut their price target on shares of Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Element Solutions in a research note on Tuesday. UBS Group increased their price target on shares of Element Solutions from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Barclays cut their price target on shares of Element Solutions from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, KeyCorp increased their price target on shares of Element Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.75.

Element Solutions Trading Down 1.1%

Shares of Element Solutions stock opened at $24.21 on Wednesday. Element Solutions Inc. has a 1 year low of $16.77 and a 1 year high of $29.78. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $5.87 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The firm’s 50 day moving average is $22.37 and its 200 day moving average is $23.29.

Element Solutions (NYSE:ESI) last posted its earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The firm had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, June 2nd. Element Solutions’s dividend payout ratio is currently 26.89%.

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.