Jennison Associates LLC Invests $21.89 Million in Element Solutions Inc (NYSE:ESI)

Jennison Associates LLC bought a new stake in Element Solutions Inc (NYSE:ESI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 805,912 shares of the company’s stock, valued at approximately $21,889,000. Jennison Associates LLC owned approximately 0.33% of Element Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in ESI. SG Americas Securities LLC acquired a new stake in Element Solutions in the 2nd quarter valued at about $1,518,000. Capital World Investors acquired a new stake in shares of Element Solutions in the first quarter valued at approximately $44,527,000. Cubist Systematic Strategies LLC acquired a new position in Element Solutions during the 2nd quarter worth $5,668,000. Blue Trust Inc. bought a new position in Element Solutions in the 2nd quarter valued at $613,000. Finally, Sequoia Financial Advisors LLC bought a new position in Element Solutions in the 3rd quarter valued at $1,161,000. 92.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ESI has been the topic of several research reports. Wolfe Research raised Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday, October 25th. Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. BMO Capital Markets lifted their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Barclays increased their price target on Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Element Solutions Trading Up 1.7 %

Shares of NYSE ESI opened at $29.04 on Friday. The company has a quick ratio of 2.77, a current ratio of 3.52 and a debt-to-equity ratio of 0.78. Element Solutions Inc has a twelve month low of $20.31 and a twelve month high of $29.16. The company’s fifty day moving average is $26.76 and its 200-day moving average is $26.05. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.53 and a beta of 1.29.

Element Solutions (NYSE:ESI) last posted its earnings results on Monday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. Element Solutions had a return on equity of 14.42% and a net margin of 11.08%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. Equities research analysts predict that Element Solutions Inc will post 1.44 EPS for the current year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.32 annualized dividend and a yield of 1.10%. Element Solutions’s dividend payout ratio (DPR) is currently 28.83%.

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.