Jennison Associates LLC Purchases Shares of 805,912 Element Solutions Inc (NYSE:ESI)

Jennison Associates LLC purchased a new stake in Element Solutions Inc (NYSE:ESI) during the third quarter, HoldingsChannel reports. The institutional investor purchased 805,912 shares of the company’s stock, valued at approximately $21,889,000.

Several other institutional investors and hedge funds also recently modified their holdings of ESI. Quarry LP bought a new stake in Element Solutions in the 2nd quarter valued at approximately $31,000. LRI Investments LLC acquired a new position in Element Solutions during the first quarter worth $78,000. EverSource Wealth Advisors LLC grew its position in Element Solutions by 39.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock valued at $82,000 after purchasing an additional 864 shares in the last quarter. Quest Partners LLC increased its stake in Element Solutions by 14,600.0% in the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock valued at $88,000 after buying an additional 3,212 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Element Solutions by 13.8% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after buying an additional 448 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Element Solutions Stock Performance

NYSE ESI opened at $29.04 on Friday. The stock has a market cap of $7.03 billion, a PE ratio of 26.16, a P/E/G ratio of 1.53 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.77 and a current ratio of 3.52. The firm has a 50-day moving average of $26.76 and a 200-day moving average of $26.05. Element Solutions Inc has a 52-week low of $20.31 and a 52-week high of $29.16.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. Element Solutions had a return on equity of 14.42% and a net margin of 11.08%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, sell-side analysts anticipate that Element Solutions Inc will post 1.44 EPS for the current year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, December 2nd. Element Solutions’s payout ratio is 28.83%.

Wall Street Analyst Weigh In

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

Element Solutions Company 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.