Forte Capital LLC ADV Raises Holdings in Element Solutions Inc (NYSE:ESI)

Forte Capital LLC ADV lifted its stake in Element Solutions Inc (NYSE:ESI) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,800 shares of the company’s stock after buying an additional 830 shares during the quarter. Forte Capital LLC ADV’s holdings in Element Solutions were worth $326,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ilex Capital Partners UK LLP raised its holdings in Element Solutions by 162.7% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock worth $67,085,000 after purchasing an additional 1,529,607 shares during the period. JPMorgan Chase & Co. raised its holdings in Element Solutions by 549.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock worth $43,983,000 after purchasing an additional 1,369,981 shares during the period. Jennison Associates LLC acquired a new position in Element Solutions in the 3rd quarter worth about $21,889,000. Appian Way Asset Management LP acquired a new position in Element Solutions in the 3rd quarter worth about $14,553,000. Finally, Concentric Capital Strategies LP raised its holdings in Element Solutions by 84.3% in the 3rd quarter. Concentric Capital Strategies LP now owns 610,609 shares of the company’s stock worth $16,584,000 after purchasing an additional 279,345 shares during the period. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ESI shares. BMO Capital Markets upped their price target on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Wolfe Research raised Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. Bank of America reissued a “neutral” rating and set a $28.00 target price (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Truist Financial began coverage on Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 target price for the company. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.14.

Element Solutions Price Performance

ESI stock opened at $26.53 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. The business has a 50 day simple moving average of $25.76 and a 200-day simple moving average of $26.33. The firm has a market capitalization of $6.43 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.33 and a beta of 1.30. Element Solutions Inc has a 1 year low of $23.09 and a 1 year high of $29.78.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $598.24 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. Equities research analysts anticipate that Element Solutions Inc will post 1.46 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.21%. Element Solutions’s dividend payout ratio (DPR) is presently 31.37%.

Element Solutions Company 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.