535,843 Shares in Element Solutions Inc (NYSE:ESI) Bought by Appian Way Asset Management LP

Appian Way Asset Management LP bought a new stake in shares of Element Solutions Inc (NYSE:ESI) in the third quarter, Holdings Channel reports. The fund bought 535,843 shares of the company’s stock, valued at approximately $14,553,000. Element Solutions accounts for 3.3% of Appian Way Asset Management LP’s holdings, making the stock its 11th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Element Solutions by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,259,088 shares of the company’s stock valued at $31,453,000 after purchasing an additional 41,718 shares during the period. LRI Investments LLC acquired a new position in Element Solutions in the first quarter valued at about $78,000. Harbor Capital Advisors Inc. increased its position in shares of Element Solutions by 271.9% during the second quarter. Harbor Capital Advisors Inc. now owns 51,059 shares of the company’s stock valued at $1,385,000 after acquiring an additional 37,331 shares during the last quarter. Parkside Investments LLC raised its stake in shares of Element Solutions by 0.5% in the 2nd quarter. Parkside Investments LLC now owns 391,237 shares of the company’s stock valued at $10,610,000 after acquiring an additional 2,129 shares during the period. Finally, Symmetry Partners LLC purchased a new position in shares of Element Solutions during the 2nd quarter worth approximately $207,000. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Price Performance

Shares of ESI opened at $28.68 on Friday. The firm has a fifty day moving average price of $27.13 and a 200 day moving average price of $26.25. The stock has a market cap of $6.95 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.57 and a beta of 1.29. Element Solutions Inc has a 1-year low of $20.31 and a 1-year high of $29.78. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.52 and a quick ratio of 2.77.

Element Solutions (NYSE:ESI) last announced 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. Element Solutions had a return on equity of 14.42% and a net margin of 11.08%. The firm had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. During the same period in the prior year, the firm earned $0.36 EPS. The business’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Element Solutions Inc will post 1.44 EPS for the current year.

Element Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Monday, December 2nd. Element Solutions’s dividend payout ratio is currently 28.83%.

Analyst Upgrades and Downgrades

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

About Element Solutions

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.