Lord Abbett & CO. LLC Has $7.89 Million Stake in Element Solutions Inc (NYSE:ESI)

Lord Abbett & CO. LLC cut its holdings in shares of Element Solutions Inc (NYSE:ESI) by 4.0% during the third quarter, Holdings Channel reports. The fund owned 290,561 shares of the company’s stock after selling 12,002 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Element Solutions were worth $7,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in shares of Element Solutions in the third quarter valued at $25,000. Quarry LP bought a new stake in shares of Element Solutions during the 2nd quarter worth about $31,000. EverSource Wealth Advisors LLC grew its stake in Element Solutions by 39.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock valued at $82,000 after buying an additional 864 shares during the last quarter. Quest Partners LLC raised its holdings in Element Solutions by 14,600.0% in the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock valued at $88,000 after acquiring an additional 3,212 shares during the period. Finally, Signaturefd LLC lifted its position in Element Solutions by 13.8% during the second quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after acquiring an additional 448 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Performance

ESI opened at $26.84 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.77 and a current ratio of 3.52. Element Solutions Inc has a 52-week low of $21.42 and a 52-week high of $29.78. The firm has a market cap of $6.50 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The business’s fifty day moving average is $27.38 and its 200-day moving average is $26.55.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. Element Solutions’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. Sell-side analysts expect that Element Solutions Inc will post 1.44 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.08 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.19%. Element Solutions’s dividend payout ratio (DPR) is 28.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ESI. Barclays upped their target price on Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Wolfe Research raised Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. BMO Capital Markets increased their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday. Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. Finally, StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.40.

Element Solutions Profile

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.