Element Solutions (NYSE:ESI) Price Target Raised to $33.00

Element Solutions (NYSE:ESI) had its price objective raised by Truist Financial from $30.00 to $33.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lowered shares of Element Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. CJS Securities raised shares of Element Solutions to a “strong-buy” rating in a report on Thursday, December 11th. Bank of America upped their target price on shares of Element Solutions from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, October 8th. Finally, UBS Group boosted their price target on Element Solutions from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.25.

Element Solutions Trading Down 1.2%

NYSE ESI opened at $28.67 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 4.05 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $6.94 billion, a P/E ratio of 28.96, a P/E/G ratio of 1.23 and a beta of 1.28. Element Solutions has a 52-week low of $16.77 and a 52-week high of $29.88. The firm has a 50-day moving average price of $26.45 and a 200 day moving average price of $25.80.

Element Solutions (NYSE:ESI) last released its earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Element Solutions had a return on equity of 14.01% and a net margin of 9.58%.The company had revenue of $656.10 million for the quarter, compared to analysts’ expectations of $645.13 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that Element Solutions will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, December 1st. Element Solutions’s dividend payout ratio is 32.32%.

Insider Activity

In other news, insider Matthew Liebowitz sold 37,000 shares of Element Solutions stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $26.60, for a total transaction of $984,200.00. Following the completion of the sale, the insider directly owned 117,393 shares in the company, valued at $3,122,653.80. The trade was a 23.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 292,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $27.00, for a total transaction of $7,884,000.00. Following the transaction, the director directly owned 306,880 shares in the company, valued at $8,285,760. The trade was a 48.76% decrease in their position. The SEC filing for this sale provides additional information. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Element Solutions

A number of institutional investors have recently bought and sold shares of the stock. Johnson Investment Counsel Inc. grew its stake in Element Solutions by 1,245.7% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 123,805 shares of the company’s stock valued at $2,804,000 after purchasing an additional 114,605 shares in the last quarter. Walnut Level Capital LLC acquired a new stake in shares of Element Solutions during the second quarter worth approximately $1,812,000. World Investment Advisors bought a new stake in shares of Element Solutions in the third quarter worth $1,185,000. Assenagon Asset Management S.A. bought a new stake in shares of Element Solutions in the second quarter worth $1,001,000. Finally, Castleark Management LLC raised its holdings in Element Solutions by 135.5% in the second quarter. Castleark Management LLC now owns 237,310 shares of the company’s stock valued at $5,375,000 after acquiring an additional 136,540 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

About Element Solutions

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.