Cambria Investment Management L.P. lifted its position in Element Solutions Inc (NYSE:ESI) by 16.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,792 shares of the company’s stock after acquiring an additional 22,288 shares during the quarter. Cambria Investment Management L.P. owned 0.06% of Element Solutions worth $3,759,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of ESI. IndexIQ Advisors LLC acquired a new position in shares of Element Solutions in the 1st quarter worth approximately $398,000. Sowell Financial Services LLC raised its stake in Element Solutions by 14,932.5% during the 1st quarter. Sowell Financial Services LLC now owns 11,575 shares of the company’s stock valued at $260,000 after acquiring an additional 11,498 shares in the last quarter. Mariner LLC raised its stake in Element Solutions by 69.6% during the 1st quarter. Mariner LLC now owns 28,358 shares of the company’s stock valued at $519,000 after acquiring an additional 11,634 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Element Solutions by 5.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 71,874 shares of the company’s stock valued at $1,315,000 after acquiring an additional 3,403 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Element Solutions by 11,270.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,489,063 shares of the company’s stock valued at $27,235,000 after acquiring an additional 1,475,967 shares in the last quarter. Institutional investors own 90.35% of the company’s stock.
ESI traded down $0.41 during midday trading on Tuesday, hitting $22.41. 20,076 shares of the company’s stock traded hands, compared to its average volume of 1,586,690. The company has a market cap of $5.55 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 0.74 and a beta of 1.65. The stock’s fifty day simple moving average is $22.72 and its 200-day simple moving average is $22.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.22 and a quick ratio of 2.43. Element Solutions Inc has a one year low of $10.22 and a one year high of $24.70.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Tuesday, August 31st. Element Solutions’s dividend payout ratio is 25.00%.
A number of research firms have recently commented on ESI. Royal Bank of Canada dropped their price objective on Element Solutions from $3.00 to $2.75 and set a “sector perform” rating on the stock in a research note on Monday, August 9th. CIBC upped their price objective on shares of Element Solutions to $2.50 and gave the company a “neutral” rating in a research note on Friday, June 25th. Zacks Investment Research cut shares of Element Solutions from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Wednesday, September 22nd. Wolfe Research began coverage on shares of Element Solutions in a report on Wednesday, June 9th. They issued an “outperform” rating for the company. Finally, Loop Capital raised their price target on shares of Element Solutions from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, June 15th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.65.
Element Solutions Profile
Element Solutions, Inc engages in the formulation of chemical solutions that enhance the performance of products people use every day. It operates through the following segments: Electronics and Industrial & Specialty. The Electronics segment focuses on the research and formulation of specialty chemicals and materials for all types of electronics hardware, from complex printed circuit board designs to new interconnection materials.
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