Nomura Holdings Inc. Buys New Shares in Element Solutions Inc (NYSE:ESI)
Nomura Holdings Inc. bought a new stake in shares of Element Solutions Inc (NYSE:ESI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,818,054 shares of the company’s stock, valued at approximately $50,586,000. Nomura Holdings Inc. owned about 1.88% of Element Solutions at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in ESI. Vanguard Group Inc. bought a new position in Element Solutions during the 2nd quarter valued at about $258,433,000. BlackRock Inc. acquired a new stake in shares of Element Solutions during the 2nd quarter worth approximately $171,908,000. Bares Capital Management Inc. acquired a new stake in shares of Element Solutions during the 2nd quarter worth approximately $169,281,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Element Solutions during the 2nd quarter worth approximately $152,598,000. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Element Solutions during the 2nd quarter worth approximately $36,279,000. 88.25% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on ESI. Barclays reaffirmed a “hold” rating and set a $11.00 price objective on shares of Element Solutions in a research report on Wednesday, August 7th. ValuEngine cut Element Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada started coverage on Element Solutions in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Element Solutions has an average rating of “Hold” and a consensus target price of $9.38.
Shares of NYSE:ESI traded down $0.01 during midday trading on Friday, reaching $10.49. 40,504 shares of the company’s stock traded hands, compared to its average volume of 2,050,226. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 75.07 and a beta of 2.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.14 and a current ratio of 2.74. Element Solutions Inc has a one year low of $8.55 and a one year high of $13.02. The stock has a 50 day moving average of $9.59 and a 200 day moving average of $10.24.
Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $456.70 million for the quarter, compared to the consensus estimate of $468.94 million. Element Solutions had a positive return on equity of 5.76% and a negative net margin of 18.53%. The firm’s revenue was down 9.0% on a year-over-year basis. Sell-side analysts predict that Element Solutions Inc will post 0.85 EPS for the current fiscal year.
Element Solutions Profile
Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.
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