Element Solutions (NYSE:ESI) Reaches New 1-Year High – Here’s What Happened

Shares of Element Solutions Inc. (NYSE:ESI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.80 and last traded at $46.6330, with a volume of 1447 shares changing hands. The stock had previously closed at $45.97.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Element Solutions to $52.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. BMO Capital Markets restated an “outperform” rating on shares of Element Solutions in a research report on Wednesday, May 20th. Truist Financial lifted their price target on shares of Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $49.00 price objective on shares of Element Solutions in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Element Solutions currently has a consensus rating of “Buy” and an average price target of $39.57.

Element Solutions Stock Performance

The company has a market cap of $11.21 billion, a P/E ratio of 74.21, a PEG ratio of 1.71 and a beta of 1.25. The company has a 50 day moving average price of $41.84 and a 200-day moving average price of $34.45. The company has a quick ratio of 1.91, a current ratio of 2.68 and a debt-to-equity ratio of 0.75.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $840.00 million for the quarter, compared to analyst estimates of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Equities analysts expect that Element Solutions Inc. will post 1.78 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.7%. Element Solutions’s dividend payout ratio (DPR) is presently 51.61%.

Institutional Trading of Element Solutions

A number of institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in shares of Element Solutions by 57.4% during the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock valued at $32,000 after acquiring an additional 346 shares during the period. Glenmede Trust Co. NA raised its holdings in Element Solutions by 2.8% during the first quarter. Glenmede Trust Co. NA now owns 48,559 shares of the company’s stock worth $1,658,000 after purchasing an additional 1,339 shares in the last quarter. Argent Capital Management LLC acquired a new stake in Element Solutions in the first quarter worth approximately $4,785,000. Bank of America Corp DE lifted its position in Element Solutions by 3.3% in the first quarter. Bank of America Corp DE now owns 881,493 shares of the company’s stock worth $30,094,000 after purchasing an additional 28,531 shares during the period. Finally, Edgestream Partners L.P. bought a new position in Element Solutions during the 1st quarter valued at $298,000. 92.32% of the stock is owned by institutional investors and hedge funds.

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.