First Horizon Advisors Inc. Buys 2,487 Shares of Element Solutions Inc (NYSE:ESI)

First Horizon Advisors Inc. grew its stake in Element Solutions Inc (NYSE:ESI) by 931.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,754 shares of the company’s stock after acquiring an additional 2,487 shares during the period. First Horizon Advisors Inc.’s holdings in Element Solutions were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ESI. Harvest Fund Management Co. Ltd acquired a new position in Element Solutions during the second quarter valued at approximately $33,000. Advisory Services Network LLC acquired a new position in Element Solutions during the second quarter valued at approximately $46,000. Metropolitan Life Insurance Co NY acquired a new position in Element Solutions during the second quarter valued at approximately $112,000. Steward Partners Investment Advisory LLC acquired a new position in Element Solutions during the second quarter valued at approximately $117,000. Finally, Stifel Financial Corp acquired a new position in Element Solutions during the second quarter valued at approximately $213,000. Institutional investors own 90.04% of the company’s stock.

Shares of ESI stock opened at $24.70 on Friday. The company’s fifty day simple moving average is $24.07 and its 200-day simple moving average is $23.35. The company has a quick ratio of 2.13, a current ratio of 2.88 and a debt-to-equity ratio of 0.75. The firm has a market cap of $6.11 billion, a PE ratio of 26.56, a P/E/G ratio of 0.64 and a beta of 1.52. Element Solutions Inc has a 12 month low of $15.86 and a 12 month high of $26.92.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Wednesday, October 27th. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Element Solutions had a net margin of 10.02% and a return on equity of 14.08%. The business had revenue of $616.00 million for the quarter, compared to analyst estimates of $578.47 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, equities analysts predict that Element Solutions Inc will post 1.36 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were given a dividend of $0.08 per share. This is a positive change from Element Solutions’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, November 30th. Element Solutions’s dividend payout ratio is 34.41%.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Element Solutions from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research note on Wednesday, September 22nd. Mizuho assumed coverage on shares of Element Solutions in a research note on Tuesday, October 12th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Element Solutions from $22.50 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.04.

Element Solutions Company 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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Institutional Ownership by Quarter for Element Solutions (NYSE:ESI)

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