Element Solutions (NYSE:ESI) Hits New 12-Month High – Should You Buy?

Element Solutions Inc. (NYSE:ESI) shares hit a new 52-week high on Tuesday . The company traded as high as $30.28 and last traded at $29.5550, with a volume of 431852 shares. The stock had previously closed at $29.59.

Analyst Upgrades and Downgrades

Several research analysts have commented on ESI shares. CJS Securities upgraded shares of Element Solutions to a “strong-buy” rating in a report on Thursday, December 11th. Mizuho decreased their price objective on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. UBS Group increased their target price on Element Solutions from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 12th. BMO Capital Markets cut Element Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Truist Financial increased their price objective on Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Element Solutions Trading Down 6.4%

The business has a 50-day moving average of $27.25 and a 200-day moving average of $26.10. 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 cap of $6.77 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 1.27 and a beta of 1.28.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, December 1st. Element Solutions’s dividend payout ratio is 32.32%.

Insider Transactions at Element Solutions

In other Element Solutions news, insider Matthew Liebowitz sold 37,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $26.60, for a total value of $984,200.00. Following the sale, the insider owned 117,393 shares of the company’s stock, valued at $3,122,653.80. This trade represents a 23.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Element Solutions

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its position in Element Solutions by 154.8% in the third quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company’s stock worth $28,000 after purchasing an additional 678 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Element Solutions in the 2nd quarter valued at approximately $26,000. First Horizon Advisors Inc. raised its holdings in shares of Element Solutions by 710.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock worth $29,000 after buying an additional 1,129 shares in the last quarter. Community Bank N.A. bought a new position in shares of Element Solutions during the 3rd quarter worth approximately $33,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Element Solutions in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

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.