Element Solutions Inc. $ESI Stock: Maryland State Retirement & Pension System Boosts Holdings

Maryland State Retirement & Pension System boosted its position in Element Solutions Inc. (NYSE:ESI) by 43.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,725 shares of the company’s stock after buying an additional 19,713 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Element Solutions were worth $2,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Arnhold LLC bought a new stake in shares of Element Solutions in the 3rd quarter valued at approximately $17,484,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Element Solutions during the 2nd quarter valued at approximately $8,363,000. Man Group plc acquired a new stake in shares of Element Solutions during the 2nd quarter valued at approximately $1,422,000. Cookson Peirce & Co. Inc. lifted its stake in Element Solutions by 671.7% during the second quarter. Cookson Peirce & Co. Inc. now owns 335,149 shares of the company’s stock worth $16,003,000 after purchasing an additional 291,718 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Element Solutions by 50.4% during the second quarter. Squarepoint Ops LLC now owns 224,679 shares of the company’s stock worth $10,728,000 after purchasing an additional 75,279 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Stock Performance

NYSE:ESI traded down $0.33 during midday trading on Friday, reaching $32.99. 2,265,122 shares of the company traded hands, compared to its average volume of 4,457,676. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 38.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.29. The company has a fifty day moving average price of $34.76 and a 200 day moving average price of $36.98. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.78 and a quick ratio of 2.06. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25.

Element Solutions (NYSE:ESI) last posted its earnings results on Wednesday, October 21st. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $995.30 million for the quarter, compared to analysts’ expectations of $964.23 million. Element Solutions had a return on equity of 15.45% and a net margin of 5.87%. The firm’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. On average, analysts expect that Element Solutions Inc. will post 1.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on ESI. Barclays decreased their price objective on shares of Element Solutions from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Wolfe Research set a $47.00 target price on shares of Element Solutions in a report on Wednesday, July 29th. Bank of America assumed coverage on shares of Element Solutions in a research report on Tuesday, September 1st. They issued a “buy” rating and a $42.00 price target on the stock. UBS Group lifted their price target on shares of Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a report on Monday, October 5th. Finally, William Blair set a $48.00 price objective on shares of Element Solutions in a research report on Friday, August 28th. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $46.36.

Element Solutions Profile

Element Solutions Inc. is a specialty chemicals company that develops and supplies materials used in electronics manufacturing and a range of industrial processes. Its products support the production of printed circuit boards, semiconductors and electronic assemblies, as well as metal plating, surface finishing and other applications. The company’s products help customers treat, protect and enhance surfaces and materials during manufacturing. Its portfolio includes process chemicals, coatings and related technologies sold under established brands, including MacDermid, Alpha and Enthone.