Element Solutions (NYSE:ESI) Price Target Raised to $34.00

Element Solutions (NYSE:ESI) had its price objective boosted by KeyCorp from $32.00 to $34.00 in a report released on Thursday morning, MarketBeat reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. UBS Group upped their target price on Element Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Element Solutions in a research note on Wednesday, October 8th. Truist Financial increased their price objective on Element Solutions from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group reissued a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. Finally, Fermium Researc upgraded Element Solutions to a “strong-buy” rating in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Element Solutions has an average rating of “Moderate Buy” and a consensus price target of $30.25.

Element Solutions Trading Up 2.7%

Element Solutions stock opened at $26.71 on Thursday. The company has a current ratio of 4.05, a quick ratio of 3.30 and a debt-to-equity ratio of 0.61. Element Solutions has a 12 month low of $16.77 and a 12 month high of $29.78. The stock’s 50 day simple moving average is $25.91 and its two-hundred day simple moving average is $23.71. The firm has a market cap of $6.45 billion, a PE ratio of 26.98, a P/E/G ratio of 1.74 and a beta of 1.31.

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

Element Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.32 annualized dividend and a yield of 1.2%. Element Solutions’s dividend payout ratio (DPR) is 32.32%.

Insider Activity at Element Solutions

In related news, EVP Carey J. Dorman sold 40,725 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $26.66, for a total value of $1,085,728.50. Following the sale, the executive vice president owned 214,837 shares of the company’s stock, valued at $5,727,554.42. This trade represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew Liebowitz sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total transaction of $1,327,500.00. Following the completion of the sale, the executive vice president directly owned 57,353 shares in the company, valued at approximately $1,522,722.15. This trade represents a 46.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 168,399 shares of company stock valued at $4,492,561 over the last 90 days. 6.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Element Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank raised its position in shares of Element Solutions by 479.7% during the 1st quarter. Amalgamated Bank now owns 67,594 shares of the company’s stock worth $1,528,000 after acquiring an additional 55,933 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Element Solutions by 48.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,716,292 shares of the company’s stock worth $38,805,000 after acquiring an additional 560,346 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Element Solutions by 1,431.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,143,869 shares of the company’s stock worth $25,863,000 after acquiring an additional 1,069,160 shares in the last quarter. KBC Group NV raised its position in shares of Element Solutions by 7.1% during the 1st quarter. KBC Group NV now owns 10,319 shares of the company’s stock worth $233,000 after acquiring an additional 681 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of Element Solutions by 8.7% during the 1st quarter. LPL Financial LLC now owns 129,474 shares of the company’s stock worth $2,927,000 after acquiring an additional 10,369 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Company Profile

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.