Appian Way Asset Management LP Takes Position in Element Solutions Inc (NYSE:ESI)

Appian Way Asset Management LP purchased a new position in Element Solutions Inc (NYSE:ESI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 535,843 shares of the company’s stock, valued at approximately $14,553,000. Element Solutions accounts for about 3.3% of Appian Way Asset Management LP’s investment portfolio, making the stock its 11th largest position. Appian Way Asset Management LP owned 0.22% of Element Solutions at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Marshall Wace LLP increased its holdings in Element Solutions by 149.2% during the second quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock valued at $106,698,000 after buying an additional 2,355,554 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Element Solutions in the second quarter worth about $32,364,000. Jennison Associates LLC purchased a new stake in shares of Element Solutions during the third quarter worth about $21,889,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Element Solutions by 14.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,289,741 shares of the company’s stock valued at $143,458,000 after purchasing an additional 676,432 shares during the period. Finally, Millennium Management LLC lifted its holdings in Element Solutions by 43.5% in the 2nd quarter. Millennium Management LLC now owns 1,134,112 shares of the company’s stock worth $30,757,000 after purchasing an additional 344,017 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Element Solutions Trading Up 0.7 %

ESI opened at $28.68 on Friday. 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 stock’s 50 day moving average price is $27.13 and its 200-day moving average price is $26.25. Element Solutions Inc has a one year low of $20.31 and a one year high of $29.78. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.57 and a beta of 1.29.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $645.00 million during 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 company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. On average, equities analysts forecast that Element Solutions Inc will post 1.44 EPS for the current year.

Element Solutions Dividend Announcement

The business also recently announced 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 1.12%. The ex-dividend date of this dividend is Monday, December 2nd. Element Solutions’s dividend payout ratio is presently 28.83%.

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.