Element Solutions Inc. $ESI Holdings Lifted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its position in Element Solutions Inc. (NYSE:ESI) by 43.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 64,725 shares of the company’s stock after acquiring an additional 19,713 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Element Solutions were worth $2,348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Element Solutions during the second quarter valued at approximately $1,317,663,000. Bank of New York Mellon Corp bought a new position in Element Solutions in the 2nd quarter worth approximately $110,892,000. Assenagon Asset Management S.A. bought a new position in Element Solutions in the 3rd quarter worth approximately $82,230,000. Bank of America Corp DE bought a new position in Element Solutions in the 2nd quarter worth approximately $47,689,000. Finally, Troluce Capital Advisors LLC acquired a new stake in Element Solutions in the 1st quarter valued at approximately $27,667,000. Institutional investors own 92.32% of the company’s stock.

Element Solutions Price Performance

Shares of NYSE:ESI traded down $0.33 during trading on Friday, reaching $32.99. The company had a trading volume of 2,265,122 shares, compared to its average volume of 4,457,676. The firm’s fifty day moving average is $34.76 and its 200 day moving average is $36.98. The firm has a market capitalization of $8.00 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.29. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.06 and a current ratio of 2.78.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ESI shares. Bank of America started coverage on Element Solutions in a research note on Tuesday, September 1st. They set a “buy” rating and a $42.00 target price on the stock. Barclays reduced their price target on Element Solutions from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. UBS Group increased their price target on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Truist Financial raised their price target on Element Solutions from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Finally, William Blair set a $48.00 price objective on shares of Element Solutions in a research note on Friday, August 28th. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $46.36.

Element Solutions Company Profile

Element Solutions Inc. is a specialty chemicals company that develops and supplies materials used in electronics manufacturing and a range of industrial processes. Its products support the production of printed circuit boards, semiconductors and electronic assemblies, as well as metal plating, surface finishing and other applications. The company’s products help customers treat, protect and enhance surfaces and materials during manufacturing. Its portfolio includes process chemicals, coatings and related technologies sold under established brands, including MacDermid, Alpha and Enthone.