Element Solutions Inc. (ESI) – What Are Investment Firms Thinking About This Stock?

Element Solutions Inc. (NYSE:ESI) has been assigned a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $46.36.

Several brokerages have issued reports on ESI. The Goldman Sachs Group began coverage on shares of Element Solutions in a research report on Friday, September 11th. They set a “buy” rating and a $44.00 price objective for the company. UBS Group upped their target price on Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Truist Financial increased their target price on Element Solutions from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Bank of America assumed coverage on Element Solutions in a report on Tuesday, September 1st. They set a “buy” rating and a $42.00 price target for the company. Finally, BMO Capital Markets restated an “outperform” rating and issued a $45.00 price target on shares of Element Solutions in a research note on Monday, September 21st.

Element Solutions Stock Performance

Shares of ESI opened at $34.21 on Friday. Element Solutions has a 12 month low of $22.86 and a 12 month high of $49.25. The firm has a fifty day simple moving average of $35.20 and a 200 day simple moving average of $36.77. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 1.15 and a beta of 1.26. The company has a current ratio of 2.78, a quick ratio of 2.06 and a debt-to-equity ratio of 0.71.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $995.30 million for the quarter, compared to analyst estimates of $964.23 million. Element Solutions had a net margin of 5.87% and a return on equity of 15.45%. Element Solutions’s quarterly revenue was up 51.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. Research analysts forecast that Element Solutions will post 1.85 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Element Solutions’s payout ratio is presently 37.65%.

Hedge Funds Weigh In On Element Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC raised its stake in Element Solutions by 53.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 26,633 shares of the company’s stock worth $884,000 after purchasing an additional 9,296 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in shares of Element Solutions during the 3rd quarter worth approximately $370,000. Summit Global Investments acquired a new position in shares of Element Solutions during the 3rd quarter worth approximately $618,000. North Dakota State Investment Board grew its position in shares of Element Solutions by 4.4% during the 3rd quarter. North Dakota State Investment Board now owns 6,990 shares of the company’s stock worth $254,000 after purchasing an additional 293 shares in the last quarter. Finally, Arnhold LLC bought a new position in shares of Element Solutions during the third quarter worth approximately $17,484,000. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Company Profile

Element Solutions Inc (NYSE: ESI) is a specialty chemicals company that develops and produces materials used in electronics manufacturing and a range of industrial applications. Its products are designed to support processes such as printed circuit board fabrication, semiconductor packaging, electronic assembly, metal finishing, and surface treatment.

Through its electronics-focused businesses, including MacDermid Alpha Solutions, the company supplies solder materials, electronic assembly chemicals, circuit board materials, and semiconductor packaging solutions.