Jennison Associates LLC Raises Stock Holdings in Element Solutions Inc (NYSE:ESI)

Jennison Associates LLC boosted its holdings in Element Solutions Inc (NYSE:ESI) by 63.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,316,244 shares of the company’s stock after purchasing an additional 510,332 shares during the period. Jennison Associates LLC’s holdings in Element Solutions were worth $33,472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ESI. Richardson Financial Services Inc. boosted its holdings in shares of Element Solutions by 77.5% in the 4th quarter. Richardson Financial Services Inc. now owns 2,086 shares of the company’s stock worth $53,000 after buying an additional 911 shares during the last quarter. R Squared Ltd purchased a new position in Element Solutions in the fourth quarter valued at about $122,000. YHB Investment Advisors Inc. grew its position in shares of Element Solutions by 23.0% during the 4th quarter. YHB Investment Advisors Inc. now owns 9,890 shares of the company’s stock valued at $252,000 after acquiring an additional 1,852 shares during the period. KBC Group NV increased its stake in shares of Element Solutions by 39.7% during the 4th quarter. KBC Group NV now owns 9,638 shares of the company’s stock worth $245,000 after purchasing an additional 2,737 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Element Solutions by 26.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 25,987 shares of the company’s stock worth $661,000 after purchasing an additional 5,431 shares during the period. Institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ESI shares. BMO Capital Markets increased their price objective on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $28.00 price objective (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Truist Financial assumed coverage on shares of Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price objective on the stock. Wolfe Research upgraded shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday, October 25th. Finally, Barclays lowered their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.14.

Element Solutions Stock Performance

NYSE ESI opened at $25.36 on Wednesday. The company’s 50 day simple moving average is $26.24 and its two-hundred day simple moving average is $26.37. The stock has a market capitalization of $6.14 billion, a PE ratio of 22.84, a P/E/G ratio of 2.19 and a beta of 1.30. 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 Inc has a 1 year low of $21.42 and a 1 year high of $29.78.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, December 2nd. Element Solutions’s dividend payout ratio is 28.83%.

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.