Element Solutions (NYSE:ESI) Given New $29.00 Price Target at Mizuho

Element Solutions (NYSE:ESI) had its target price boosted by Mizuho from $27.00 to $29.00 in a research report released on Friday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other research analysts also recently issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. UBS Group lifted their price target on Element Solutions from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Fermium Researc upgraded Element Solutions to a “strong-buy” rating in a report on Wednesday, September 17th. Finally, KeyCorp boosted their target price on Element Solutions from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.63.

Element Solutions Stock Performance

NYSE:ESI opened at $26.91 on Friday. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.73 and a beta of 1.31. Element Solutions has a 1-year low of $16.77 and a 1-year high of $29.78. The firm’s fifty day moving average price is $25.24 and its 200 day moving average price is $23.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.10 and a quick ratio of 3.30.

Element Solutions (NYSE:ESI) last issued its earnings results on Wednesday, July 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $625.20 million for the quarter, compared to analyst estimates of $587.45 million. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. On average, sell-side analysts expect that Element Solutions will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Element Solutions’s dividend payout ratio is currently 32.00%.

Insider Activity at Element Solutions

In related news, EVP Carey J. Dorman sold 40,725 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total transaction of $1,085,728.50. Following the sale, the executive vice president directly owned 214,837 shares of the company’s stock, valued at approximately $5,727,554.42. This represents a 15.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Edward Capps sold 77,674 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $26.77, for a total value of $2,079,332.98. Following the completion of the sale, the executive vice president directly owned 609,790 shares in the company, valued at $16,324,078.30. This represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,399 shares of company stock valued at $4,492,561. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Element Solutions

Several large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its position in shares of Element Solutions by 1.2% during the first quarter. Mackenzie Financial Corp now owns 45,210 shares of the company’s stock worth $1,022,000 after purchasing an additional 529 shares during the period. Maryland State Retirement & Pension System grew its holdings in shares of Element Solutions by 0.8% during the second quarter. Maryland State Retirement & Pension System now owns 76,026 shares of the company’s stock worth $1,722,000 after buying an additional 619 shares in the last quarter. KBC Group NV grew its holdings in shares of Element Solutions by 7.1% during the first quarter. KBC Group NV now owns 10,319 shares of the company’s stock worth $233,000 after buying an additional 681 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Element Solutions by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 218,152 shares of the company’s stock worth $4,941,000 after buying an additional 740 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Element Solutions by 9.5% during the third quarter. GAMMA Investing LLC now owns 9,351 shares of the company’s stock worth $235,000 after buying an additional 812 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

About Element Solutions

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.