Polar Asset Management Partners Inc. Acquires New Shares in Element Solutions Inc (NYSE:ESI)

Polar Asset Management Partners Inc. bought a new position in Element Solutions Inc (NYSE:ESI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 100,300 shares of the company’s stock, valued at approximately $2,724,000.

Several other large investors have also recently added to or reduced their stakes in ESI. Marshall Wace LLP raised its holdings in shares of Element Solutions by 149.2% during the second quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock valued at $106,698,000 after buying an additional 2,355,554 shares during the last quarter. Ilex Capital Partners UK LLP increased its position 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 valued at $67,085,000 after acquiring an additional 1,529,607 shares during the period. Driehaus Capital Management LLC bought a new stake in Element Solutions during the 2nd quarter valued at $32,364,000. Jennison Associates LLC acquired a new position in Element Solutions during the 3rd quarter worth $21,889,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Element Solutions by 14.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,289,741 shares of the company’s stock worth $143,458,000 after purchasing an additional 676,432 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Element Solutions Stock Down 0.6 %

NYSE ESI opened at $27.64 on Friday. Element Solutions Inc has a 12 month low of $20.31 and a 12 month high of $29.78. The company has a market capitalization of $6.69 billion, a P/E ratio of 24.90, a PEG ratio of 1.54 and a beta of 1.28. The company’s 50 day simple moving average is $27.27 and its 200 day simple moving average is $26.37. 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 quarterly earnings data on Monday, October 28th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $626.52 million. Element Solutions had a return on equity of 14.42% and a net margin of 11.08%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. Equities research analysts expect that Element Solutions Inc will post 1.44 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, December 16th. Investors of record on Monday, December 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.16%. Element Solutions’s dividend payout ratio (DPR) is 28.83%.

Analysts Set New Price Targets

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

Element Solutions 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.