Summit Global Investments Makes New Investment in Element Solutions Inc. $ESI

Summit Global Investments acquired a new position in shares of Element Solutions Inc. (NYSE:ESI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,024 shares of the company’s stock, valued at approximately $618,000.

Several other hedge funds have also made changes to their positions in ESI. BlackRock Inc. purchased a new stake in shares of Element Solutions in the second quarter valued at $1,317,663,000. Bank of New York Mellon Corp purchased a new position in Element Solutions during the second quarter worth about $110,892,000. Assenagon Asset Management S.A. purchased a new position in Element Solutions during the third quarter worth about $82,230,000. Bank of America Corp DE acquired a new stake in Element Solutions in the 2nd quarter worth about $47,689,000. Finally, Troluce Capital Advisors LLC acquired a new stake in Element Solutions in the 1st quarter worth about $27,667,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Trading Down 0.5%

Shares of ESI opened at $34.10 on Tuesday. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25. The firm has a market capitalization of $8.27 billion, a P/E ratio of 40.11, a price-to-earnings-growth ratio of 1.20 and a beta of 1.26. The company has a current ratio of 2.78, a quick ratio of 2.06 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $35.18 and its 200 day simple moving average is $36.80.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $995.30 million during the quarter, compared to the consensus estimate of $964.23 million. Element Solutions had a return on equity of 15.45% and a net margin of 5.87%. The firm’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, equities research analysts forecast that Element Solutions Inc. will post 1.85 earnings per share for the current year.

Element Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Element Solutions’s payout ratio is currently 37.65%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings upgraded Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Jefferies Financial Group initiated coverage on shares of Element Solutions in a report on Wednesday, September 2nd. They set a “buy” rating and a $55.00 price objective on the stock. Bank of America initiated coverage on shares of Element Solutions in a research report on Tuesday, September 1st. They issued a “buy” rating and a $42.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and issued a $45.00 target price on shares of Element Solutions in a report on Monday, September 21st. Finally, Wolfe Research set a $47.00 price target on shares of Element Solutions in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Element Solutions has a consensus rating of “Buy” and an average target price of $46.36.

About Element Solutions

Element Solutions Inc (NYSE: ESI) is a specialty chemicals company that develops and produces materials used in electronics manufacturing and a range of industrial applications. Its products are designed to support processes such as printed circuit board fabrication, semiconductor packaging, electronic assembly, metal finishing, and surface treatment.

Through its electronics-focused businesses, including MacDermid Alpha Solutions, the company supplies solder materials, electronic assembly chemicals, circuit board materials, and semiconductor packaging solutions.