Maverick Capital Ltd. Makes New $1.49 Million Investment in Element Solutions Inc. $ESI

Maverick Capital Ltd. bought a new stake in Element Solutions Inc. (NYSE:ESI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 43,524 shares of the company’s stock, valued at approximately $1,486,000.

Several other hedge funds also recently made changes to their positions in the company. Iridian Asset Management LLC CT lifted its position in Element Solutions by 37.2% during the fourth quarter. Iridian Asset Management LLC CT now owns 264,211 shares of the company’s stock valued at $6,603,000 after buying an additional 71,686 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Element Solutions by 7.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,524,090 shares of the company’s stock worth $63,077,000 after buying an additional 174,228 shares during the period. Hsbc Holdings PLC grew its position in shares of Element Solutions by 45.2% in the 4th quarter. Hsbc Holdings PLC now owns 189,883 shares of the company’s stock worth $4,767,000 after buying an additional 59,154 shares during the period. Capital World Investors increased its stake in shares of Element Solutions by 3.8% in the 4th quarter. Capital World Investors now owns 3,405,232 shares of the company’s stock worth $85,097,000 after acquiring an additional 123,244 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Element Solutions by 2,818.0% in the 1st quarter. Fifth Third Bancorp now owns 68,543 shares of the company’s stock worth $2,340,000 after acquiring an additional 66,194 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Element Solutions Price Performance

ESI opened at $37.83 on Tuesday. The stock has a 50-day moving average price of $42.00 and a 200-day moving average price of $37.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.68 and a quick ratio of 1.91. The firm has a market cap of $9.21 billion, a PE ratio of 61.01, a P/E/G ratio of 1.30 and a beta of 1.23. Element Solutions Inc. has a 1 year low of $22.63 and a 1 year high of $49.25.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company had revenue of $977.90 million for the quarter, compared to analysts’ expectations of $873.19 million. During the same quarter in the previous year, the business posted $0.20 EPS. Element Solutions’s revenue was up 56.4% compared to the same quarter last year. Sell-side analysts predict that Element Solutions Inc. will post 1.79 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.8%. Element Solutions’s payout ratio is 51.61%.

Wall Street Analyst Weigh In

ESI has been the topic of several research reports. UBS Group boosted their price objective on shares of Element Solutions to $52.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Seaport Research Partners reaffirmed a “buy” rating and set a $49.00 target price on shares of Element Solutions in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Element Solutions in a research report on Tuesday, May 19th. Finally, Truist Financial upped their price target on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $43.00.

Element Solutions Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.