Teacher Retirement System of Texas Has $1.25 Million Position in Element Solutions Inc (NYSE:ESI)

Posted by Defense World Staff on Oct 8th, 2023

Teacher Retirement System of Texas boosted its position in Element Solutions Inc (NYSE:ESI – Free Report) by 43.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,174 shares of the company’s stock after purchasing an additional 19,755 shares during the period. Teacher Retirement System of Texas’ holdings in Element Solutions were worth $1,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Element Solutions by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 22,092,230 shares of the company’s stock worth $359,441,000 after purchasing an additional 214,544 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Element Solutions by 1.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,138,854 shares of the company’s stock valued at $311,756,000 after buying an additional 163,426 shares during the period. FMR LLC increased its stake in shares of Element Solutions by 5.9% in the first quarter. FMR LLC now owns 14,663,724 shares of the company’s stock valued at $283,157,000 after buying an additional 810,879 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Element Solutions by 2.9% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,863 shares of the company’s stock valued at $90,117,000 after buying an additional 133,323 shares during the period. Finally, State Street Corp increased its stake in shares of Element Solutions by 3.8% in the first quarter. State Street Corp now owns 3,615,140 shares of the company’s stock valued at $69,808,000 after buying an additional 130,761 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ESI. StockNews.com began coverage on Element Solutions in a research note on Thursday. They issued a “hold” rating for the company. Mizuho increased their price target on Element Solutions from $21.00 to $22.00 in a research note on Friday, July 28th. Finally, BMO Capital Markets started coverage on Element Solutions in a research note on Tuesday, June 20th. They set an “outperform” rating and a $23.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.21.

Read Our Latest Analysis on Element Solutions

Insider Activity at Element Solutions

In other news, Director Nichelle Maynard-Elliott sold 4,174 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $19.61, for a total value of $81,852.14. Following the completion of the transaction, the director now directly owns 24,789 shares in the company, valued at approximately $486,112.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is owned by corporate insiders.

Element Solutions Stock Performance

NYSE:ESI opened at $19.47 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.32 and a quick ratio of 2.44. The business has a fifty day simple moving average of $19.89 and a two-hundred day simple moving average of $19.11. Element Solutions Inc has a 1 year low of $15.31 and a 1 year high of $21.90. The company has a market capitalization of $4.70 billion, a P/E ratio of 34.16, a P/E/G ratio of 2.81 and a beta of 1.30.

Element Solutions (NYSE:ESI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $586.10 million during the quarter, compared to analysts’ expectations of $611.13 million. Element Solutions had a return on equity of 13.13% and a net margin of 5.90%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. On average, analysts expect that Element Solutions Inc will post 1.31 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, August 31st. Element Solutions’s dividend payout ratio is 56.14%.

About Element Solutions

(Free Report)

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.