Point72 Hong Kong Ltd Takes $1.84 Million Position in Element Solutions Inc (NYSE:ESI)

Point72 Hong Kong Ltd bought a new stake in shares of Element Solutions Inc (NYSE:ESI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 67,766 shares of the company’s stock, valued at approximately $1,841,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its position in Element Solutions by 271.9% during the second quarter. Harbor Capital Advisors Inc. now owns 51,059 shares of the company’s stock worth $1,385,000 after acquiring an additional 37,331 shares during the period. Parkside Investments LLC lifted its stake in Element Solutions by 0.5% in the 2nd quarter. Parkside Investments LLC now owns 391,237 shares of the company’s stock valued at $10,610,000 after buying an additional 2,129 shares in the last quarter. Symmetry Partners LLC acquired a new stake in Element Solutions in the 2nd quarter worth about $207,000. QRG Capital Management Inc. boosted its holdings in Element Solutions by 7.5% in the 2nd quarter. QRG Capital Management Inc. now owns 11,389 shares of the company’s stock worth $309,000 after buying an additional 798 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Element Solutions during the 2nd quarter worth approximately $1,518,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Wall Street Analysts Forecast Growth

ESI has been the topic of several research reports. BMO Capital Markets lifted their price target on Element Solutions from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. Wolfe Research raised shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Barclays upped their price objective on shares of Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Element Solutions Trading Up 0.7 %

Shares of ESI stock opened at $28.68 on Monday. The company has a current ratio of 3.52, a quick ratio of 2.77 and a debt-to-equity ratio of 0.78. Element Solutions Inc has a twelve month low of $20.31 and a twelve month high of $29.78. The company’s 50-day moving average price is $27.13 and its 200-day moving average price is $26.29. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.58 and a beta of 1.29.

Element Solutions (NYSE:ESI) last posted its earnings results on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $645.00 million for the quarter, compared to analyst estimates of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. Element Solutions’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities analysts predict that Element Solutions Inc will post 1.44 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.32 annualized dividend and a yield of 1.12%. Element Solutions’s dividend payout ratio (DPR) is 28.83%.

Element Solutions Profile

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.