UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 70,399 Shares of Element Solutions Inc. $ESI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Element Solutions Inc. (NYSE:ESI) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 596,417 shares of the company’s stock after selling 70,399 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Element Solutions were worth $28,479,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ESI. BlackRock Inc. bought a new position in shares of Element Solutions in the second quarter valued at approximately $1,317,663,000. Bank of New York Mellon Corp purchased a new position in shares of Element Solutions in the second quarter worth about $110,892,000. Invesco Ltd. raised its position in shares of Element Solutions by 43.6% in the fourth quarter. Invesco Ltd. now owns 7,069,238 shares of the company’s stock valued at $176,660,000 after purchasing an additional 2,146,512 shares during the period. Scopus Asset Management L.P. raised its position in shares of Element Solutions by 134.6% in the second quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock valued at $77,602,000 after purchasing an additional 1,965,691 shares during the period. Finally, Jain Global LLC lifted its stake in shares of Element Solutions by 253.3% during the 4th quarter. Jain Global LLC now owns 2,127,297 shares of the company’s stock valued at $53,161,000 after buying an additional 1,525,195 shares in the last quarter. 92.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wolfe Research set a $47.00 price objective on shares of Element Solutions in a research note on Wednesday, July 29th. Weiss Ratings raised Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. William Blair set a $48.00 price target on Element Solutions in a research report on Friday, August 28th. Bank of America initiated coverage on Element Solutions in a research note on Tuesday. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Element Solutions in a report on Wednesday. They issued a “buy” rating and a $55.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $46.00.

Element Solutions Trading Up 1.4%

ESI stock opened at $34.92 on Friday. The company has a market capitalization of $8.51 billion, a PE ratio of 47.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.11 and a current ratio of 2.91. Element Solutions Inc. has a one year low of $22.86 and a one year high of $49.25. The company’s 50 day moving average price is $38.44 and its two-hundred day moving average price is $38.44.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data 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 company had revenue of $977.90 million during the quarter, compared to analysts’ expectations of $873.19 million. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The firm’s revenue was up 56.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, analysts predict that Element Solutions Inc. will post 1.81 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

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