Fintel reports that Wellington Management Group Llp has filed a 13G/A form with the SEC disclosing ownership of 16.64MM shares of Element Solutions Inc (ESI). This represents 6.87% of the company.
In their previous filing dated February 4, 2022 they reported 16.28MM shares and 6.58% of the company, an increase in shares of 2.22% and an increase in total ownership of 0.29% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 0.36% Downside
As of February 5, 2023, the average one-year price target for Element Solutions is $21.57. The forecasts range from a low of $15.15 to a high of $25.20. The average price target represents a decrease of 0.36% from its latest reported closing price of $21.65.
The projected annual revenue for Element Solutions is $2,594MM, a decrease of 1.09%. The projected annual EPS is $1.44, an increase of 98.79%.
Fund Sentiment
There are 648 funds or institutions reporting positions in Element Solutions. This is a decrease of 4 owner(s) or 0.61%.
Average portfolio weight of all funds dedicated to US:ESI is 0.3210%, a decrease of 5.2087%. Total shares owned by institutions increased in the last three months by 0.92% to 276,730K shares.
What are large shareholders doing?
T. Rowe Price Investment Management holds 16,975,428 shares representing 7.01% ownership of the company.
Gates Capital Management holds 10,076,858 shares representing 4.16% ownership of the company. In it's prior filing, the firm reported owning 9,847,773 shares, representing an increase of 2.27%. The firm decreased its portfolio allocation in ESI by 2.01% over the last quarter.
Massachusetts Financial Services holds 7,294,686 shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 7,332,652 shares, representing a decrease of 0.52%. The firm decreased its portfolio allocation in ESI by 1.39% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,014,257 shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 6,959,129 shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in ESI by 3.97% over the last quarter.
HFMCX - THE HARTFORD MIDCAP FUND holds 6,061,309 shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 6,300,477 shares, representing a decrease of 3.95%. The firm decreased its portfolio allocation in ESI by 3.85% over the last quarter.
Element Solutions Declares $0.08 Dividend
Element Solutions said on November 17, 2022 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Shareholders of record as of November 30, 2022 received the payment on December 15, 2022. Previously, the company paid $0.08 per share.
At the current share price of $21.65 / share, the stock's dividend yield is 1.48%. Looking back five years and taking a sample every week, the average dividend yield has been 1.35%, the lowest has been 0.88%, and the highest has been 1.97%. The standard deviation of yields is 0.30 (n=103).
The current dividend yield is 0.41 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.43. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
Element Solutions Background Information
(This description is provided by the company.)
Element Solutions Inc is a leading specialty chemicals company whose businesses supply a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, these innovative solutions enable customers' manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communications and data storage infrastructure, automotive systems, industrial surface finishing, consumer packaging and offshore energy.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
