Empowered Funds LLC Makes New Investment in Element Solutions Inc. $ESI

Empowered Funds LLC bought a new position in Element Solutions Inc. (NYSE:ESI) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 241,599 shares of the company’s stock, valued at approximately $11,536,000. Empowered Funds LLC owned about 0.10% of Element Solutions as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ESI. Assetmark Inc. increased its stake in Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company’s stock worth $27,000 after acquiring an additional 468 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Element Solutions in the 4th quarter worth approximately $28,000. NewEdge Advisors LLC boosted its holdings in shares of Element Solutions by 57.4% in the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after purchasing an additional 346 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Element Solutions during the 3rd quarter valued at approximately $47,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Element Solutions during the 3rd quarter valued at approximately $49,000. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ESI. Wolfe Research set a $47.00 price target on Element Solutions in a research report on Wednesday, July 29th. BMO Capital Markets reissued an “outperform” rating on shares of Element Solutions in a research note on Tuesday, July 28th. William Blair set a $48.00 target price on shares of Element Solutions in a report on Friday. Seaport Research Partners reaffirmed a “buy” rating and set a $49.00 price target on shares of Element Solutions in a research note on Tuesday, May 5th. Finally, Mizuho reiterated a “neutral” rating and set a $45.00 price target (down from $54.00) on shares of Element Solutions in a report on Tuesday, July 14th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $44.00.

Element Solutions Stock Performance

ESI stock opened at $34.93 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.91 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $39.43 and its two-hundred day simple moving average is $38.32. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 47.20, a PEG ratio of 1.20 and a beta of 1.26.

Element Solutions (NYSE:ESI) last issued its earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $977.90 million during the quarter, compared to analyst estimates of $873.19 million. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The business’s revenue was up 56.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. Analysts predict that Element Solutions Inc. will post 1.81 earnings per share for the current year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Element Solutions’s payout ratio is 43.24%.

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.