Point72 Hong Kong Ltd Buys Shares of 67,766 Element Solutions Inc (NYSE:ESI)

Point72 Hong Kong Ltd purchased a new position in Element Solutions Inc (NYSE:ESI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 67,766 shares of the company’s stock, valued at approximately $1,841,000.

A number of other hedge funds have also recently made changes to their positions in the stock. US Bancorp DE raised its holdings in Element Solutions by 0.9% in the third quarter. US Bancorp DE now owns 46,005 shares of the company’s stock worth $1,249,000 after purchasing an additional 417 shares in the last quarter. Signaturefd LLC lifted its position in Element Solutions by 13.8% during the second quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock valued at $100,000 after acquiring an additional 448 shares during the last quarter. Equitable Trust Co. boosted its stake in Element Solutions by 2.2% in the third quarter. Equitable Trust Co. now owns 33,527 shares of the company’s stock valued at $911,000 after acquiring an additional 733 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Element Solutions by 7.5% in the second quarter. QRG Capital Management Inc. now owns 11,389 shares of the company’s stock worth $309,000 after purchasing an additional 798 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Element Solutions by 39.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock worth $82,000 after purchasing an additional 864 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Element Solutions Price Performance

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

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm 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%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, sell-side analysts forecast that Element Solutions Inc will post 1.44 EPS for the current year.

Element Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays boosted their target price on Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. BMO Capital Markets increased their price objective on shares of Element Solutions from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. Finally, Wolfe Research raised shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

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.