Lord Abbett & CO. LLC Has $7.89 Million Holdings in Element Solutions Inc (NYSE:ESI)

Lord Abbett & CO. LLC cut its holdings in shares of Element Solutions Inc (NYSE:ESI) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 290,561 shares of the company’s stock after selling 12,002 shares during the period. Lord Abbett & CO. LLC owned approximately 0.12% of Element Solutions worth $7,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ESI. Marshall Wace LLP lifted its holdings in shares of Element Solutions by 149.2% during the 2nd quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock valued at $106,698,000 after purchasing an additional 2,355,554 shares in the last quarter. Ilex Capital Partners UK LLP raised its holdings in Element Solutions by 162.7% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock worth $67,085,000 after buying an additional 1,529,607 shares during the period. Driehaus Capital Management LLC bought a new position in Element Solutions in the second quarter valued at approximately $32,364,000. Jennison Associates LLC acquired a new position in shares of Element Solutions in the third quarter valued at approximately $21,889,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Element Solutions by 14.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,289,741 shares of the company’s stock worth $143,458,000 after acquiring an additional 676,432 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ESI shares. StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Seaport Res Ptn raised Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. BMO Capital Markets increased their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday. Wolfe Research upgraded Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday, October 25th. Finally, Barclays upped their price target on Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Element Solutions presently has an average rating of “Moderate Buy” and an average target price of $31.40.

Element Solutions Stock Performance

ESI opened at $26.84 on Tuesday. The business’s 50-day simple moving average is $27.38 and its 200 day simple moving average is $26.55. Element Solutions Inc has a 52-week low of $21.42 and a 52-week high of $29.78. 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 market capitalization of $6.50 billion, a PE ratio of 24.18, a PEG ratio of 1.51 and a beta of 1.28.

Element Solutions (NYSE:ESI) last announced 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. Element Solutions had a return on equity of 14.42% and a net margin of 11.08%. The company had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $626.52 million. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that Element Solutions Inc will post 1.44 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, December 2nd. Element Solutions’s dividend payout ratio (DPR) 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.