Element Solutions (NYSE:ESI) Issues Quarterly Earnings Results

Element Solutions (NYSE:ESI) announced its earnings results on Tuesday. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01, Zacks reports. Element Solutions had a net margin of 9.58% and a return on equity of 14.01%.

Element Solutions Trading Down 0.0%

ESI stock traded down $0.02 during trading on Tuesday, reaching $32.35. 4,037,588 shares of the stock were exchanged, compared to its average volume of 2,304,738. The company has a current ratio of 4.05, a quick ratio of 3.28 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 1.37 and a beta of 1.28. The business has a 50 day moving average price of $28.05 and a 200-day moving average price of $26.52. Element Solutions has a 1 year low of $16.77 and a 1 year high of $33.34.

Element Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Element Solutions’s payout ratio is 32.32%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ESI shares. UBS Group lifted their price objective on Element Solutions from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Bank of America raised their target price on Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, January 21st. KeyCorp raised their price target on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Truist Financial upped their price objective on shares of Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Element Solutions presently has an average rating of “Moderate Buy” and an average target price of $31.50.

Insider Activity

In related news, insider Matthew Liebowitz sold 37,000 shares of the 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 completion of the transaction, the insider directly owned 117,393 shares in the company, valued at approximately $3,122,653.80. This represents a 23.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of Element Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new position in Element Solutions in the fourth quarter valued at about $28,000. Johnson Financial Group Inc. acquired a new position in shares of Element Solutions in the 3rd quarter worth approximately $47,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Element Solutions during the 3rd quarter worth approximately $49,000. Quarry LP increased its holdings in Element Solutions by 27.3% in the 3rd quarter. Quarry LP now owns 2,011 shares of the company’s stock valued at $51,000 after purchasing an additional 431 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Element Solutions by 38.6% in the third quarter. Parallel Advisors LLC now owns 2,110 shares of the company’s stock valued at $53,000 after purchasing an additional 588 shares during the period. 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.