Geode Capital Management LLC Has $122.54 Million Stock Position in Element Solutions Inc. $ESI

Geode Capital Management LLC increased its stake in shares of Element Solutions Inc. (NYSE:ESI) by 1.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,902,401 shares of the company’s stock after buying an additional 75,365 shares during the period. Geode Capital Management LLC’s holdings in Element Solutions were worth $122,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESI. Invesco Ltd. raised its holdings in Element Solutions by 68.6% during the 3rd quarter. Invesco Ltd. now owns 4,922,726 shares of the company’s stock worth $123,905,000 after purchasing an additional 2,003,724 shares during the last quarter. Scopus Asset Management L.P. raised its holdings in Element Solutions by 134.6% during the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock worth $77,602,000 after purchasing an additional 1,965,691 shares during the last quarter. Merewether Investment Management LP bought a new stake in Element Solutions during the 2nd quarter worth about $28,031,000. Schroder Investment Management Group increased its stake in shares of Element Solutions by 167.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,820,902 shares of the company’s stock valued at $45,486,000 after acquiring an additional 1,138,927 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Element Solutions by 28.0% in the 3rd quarter. American Century Companies Inc. now owns 4,195,840 shares of the company’s stock valued at $105,609,000 after acquiring an additional 916,804 shares during the last quarter. 92.32% of the stock is owned by institutional investors.

Element Solutions Price Performance

NYSE ESI opened at $39.78 on Friday. The business has a 50 day simple moving average of $39.59 and a 200 day simple moving average of $32.79. Element Solutions Inc. has a 52-week low of $20.95 and a 52-week high of $45.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 2.68. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 64.16, a PEG ratio of 1.47 and a beta of 1.25.

Element Solutions (NYSE:ESI) last posted its earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The business had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $710.51 million. During the same period in the prior year, the business earned $0.34 EPS. Element Solutions’s revenue for the quarter was up 41.5% compared to the same quarter last year. Analysts anticipate that Element Solutions Inc. will post 1.78 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Element Solutions’s dividend payout ratio is presently 51.61%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ESI shares. Mizuho upped their price target on Element Solutions from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Truist Financial upped their price target on Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. KeyCorp upped their price target on Element Solutions from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Element Solutions in a research note on Tuesday, May 19th. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $39.57.

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.