Granite Investment Partners LLC Purchases New Shares in Element Solutions Inc. $ESI

Granite Investment Partners LLC purchased a new position in shares of Element Solutions Inc. (NYSE:ESI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 212,055 shares of the company’s stock, valued at approximately $7,240,000.

Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of Element Solutions by 16.4% in the fourth quarter. Parallel Advisors LLC now owns 2,455 shares of the company’s stock valued at $61,000 after buying an additional 345 shares in the last quarter. MML Investors Services LLC increased its stake in Element Solutions by 0.3% during the 4th quarter. MML Investors Services LLC now owns 125,877 shares of the company’s stock worth $3,146,000 after acquiring an additional 355 shares during the period. Quarry LP increased its position in shares of Element Solutions by 27.3% in the third quarter. Quarry LP now owns 2,011 shares of the company’s stock worth $51,000 after purchasing an additional 431 shares during the period. Lido Advisors LLC raised its stake in Element Solutions by 2.8% in the fourth quarter. Lido Advisors LLC now owns 18,138 shares of the company’s stock valued at $456,000 after purchasing an additional 491 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Element Solutions by 1.9% during the fourth quarter. Cetera Investment Advisers now owns 28,854 shares of the company’s stock worth $721,000 after purchasing an additional 543 shares during the period. Institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ESI. Seaport Research Partners reissued a “buy” rating and issued a $49.00 target price on shares of Element Solutions in a report on Tuesday, May 5th. UBS Group increased their price target on shares of Element Solutions to $52.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Truist Financial boosted their price objective on shares of Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Element Solutions in a research note on Tuesday, May 19th. Finally, BMO Capital Markets lifted their price target on Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Element Solutions currently has a consensus rating of “Buy” and a consensus target price of $44.14.

Element Solutions Stock Performance

NYSE ESI opened at $39.30 on Thursday. The firm’s fifty day moving average price is $43.11 and its two-hundred day moving average price is $35.85. The stock has a market cap of $9.57 billion, a PE ratio of 63.39, a PEG ratio of 1.35 and a beta of 1.23. Element Solutions Inc. has a fifty-two week low of $22.63 and a fifty-two week high of $49.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 2.68.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The company had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $710.51 million. During the same period in the prior year, the company earned $0.34 EPS. Element Solutions’s revenue was up 41.5% compared to the same quarter last year. On average, equities analysts expect that Element Solutions Inc. will post 1.78 EPS 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 given a $0.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.8%. Element Solutions’s dividend payout ratio (DPR) is currently 51.61%.

About Element Solutions

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.