Lapides Asset Management LLC Grows Position in Element Solutions Inc (NYSE:ESI)

Lapides Asset Management LLC grew its stake in shares of Element Solutions Inc (NYSE:ESI) by 32.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 157,300 shares of the company’s stock after purchasing an additional 38,500 shares during the quarter. Lapides Asset Management LLC owned approximately 0.06% of Element Solutions worth $1,707,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Maverick Capital Ltd. purchased a new stake in shares of Element Solutions during the first quarter valued at approximately $1,411,000. Stone Ridge Asset Management LLC purchased a new stake in shares of Element Solutions during the first quarter valued at approximately $138,000. Invesco Ltd. boosted its stake in shares of Element Solutions by 2,185.4% during the first quarter. Invesco Ltd. now owns 5,491,119 shares of the company’s stock valued at $45,906,000 after purchasing an additional 5,250,846 shares during the period. AXA boosted its stake in shares of Element Solutions by 42.9% during the first quarter. AXA now owns 101,000 shares of the company’s stock valued at $844,000 after purchasing an additional 30,300 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Element Solutions by 203.1% during the first quarter. JPMorgan Chase & Co. now owns 265,191 shares of the company’s stock valued at $2,216,000 after purchasing an additional 177,688 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

Separately, SunTrust Banks raised their price target on Element Solutions from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Element Solutions currently has an average rating of “Hold” and an average target price of $11.14.

ESI traded up $0.08 during trading on Friday, reaching $10.86. The stock had a trading volume of 3,142,504 shares, compared to its average volume of 1,915,166. Element Solutions Inc has a one year low of $5.35 and a one year high of $12.74. The company has a current ratio of 1.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $10.80 and its two-hundred day moving average is $10.39. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 3.16 and a beta of 1.88.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. Element Solutions had a return on equity of 9.44% and a net margin of 4.24%. The firm had revenue of $452.60 million during the quarter, compared to the consensus estimate of $436.38 million. During the same period last year, the company earned $0.20 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Element Solutions Inc will post 0.79 earnings per share for the current year.

About Element Solutions

Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.

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Institutional Ownership by Quarter for Element Solutions (NYSE:ESI)

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