Geode Capital Management LLC Has $96.22 Million Stake in Element Solutions Inc (NYSE:ESI)

Geode Capital Management LLC grew its holdings in shares of Element Solutions Inc (NYSE:ESI) by 0.5% in the third quarter, HoldingsChannel.com reports. The fund owned 3,541,513 shares of the company’s stock after acquiring an additional 18,791 shares during the quarter. Geode Capital Management LLC’s holdings in Element Solutions were worth $96,216,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in Element Solutions during the third quarter worth approximately $25,000. Quarry LP bought a new position in shares of Element Solutions during the 2nd quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew its position in shares of Element Solutions by 39.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock worth $82,000 after buying an additional 864 shares during the period. Quest Partners LLC increased its stake in shares of 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 in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Element Solutions by 13.8% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock valued at $100,000 after acquiring an additional 448 shares during the period. 92.32% of the stock is owned by institutional investors.

Element Solutions Stock Performance

Shares of ESI opened at $25.68 on Thursday. The firm has a market capitalization of $6.22 billion, a P/E ratio of 23.14, a P/E/G ratio of 1.51 and a beta of 1.28. Element Solutions Inc has a 52 week low of $21.42 and a 52 week high of $29.78. The stock has a 50 day moving average price of $27.42 and a two-hundred day moving average price of $26.59. 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 (NYSE:ESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Element Solutions had a return on equity of 14.42% and a net margin of 11.08%. The business had revenue of $645.00 million during the quarter, compared to the consensus estimate of $626.52 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. Element Solutions’s revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that Element Solutions Inc will post 1.44 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, December 2nd. Element Solutions’s dividend payout ratio (DPR) is presently 28.83%.

Analyst Ratings Changes

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

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.