Element Solutions (NYSE:ESI) Stock Price Down 7% – Here’s Why

Element Solutions Inc. (NYSE:ESI) dropped 7% during trading on Friday . The company traded as low as $44.39 and last traded at $44.36. Approximately 1,379,279 shares changed hands during trading, a decline of 53% from the average session volume of 2,961,118 shares. The stock had previously closed at $47.72.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Seaport Research Partners reiterated a “buy” rating and set a $49.00 target price on shares of Element Solutions in a report on Tuesday, May 5th. Truist Financial boosted their target price on Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Freedom Capital upgraded shares of Element Solutions to a “strong-buy” rating in a report on Friday, March 27th. UBS Group raised their target price on shares of Element Solutions to $52.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Element Solutions in a research report on Wednesday, May 20th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $39.57.

Element Solutions Trading Down 5.8%

The company has a market cap of $10.95 billion, a P/E ratio of 72.56, a PEG ratio of 1.61 and a beta of 1.25. The company has a current ratio of 2.68, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The business has a 50 day moving average price of $42.20 and a 200-day moving average price of $34.74.

Element Solutions (NYSE:ESI) last released its earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The business had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $710.51 million. During the same period last year, the business earned $0.34 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. Analysts forecast that Element Solutions Inc. will post 1.78 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

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

Institutional Investors Weigh In On Element Solutions

Several hedge funds have recently added to or reduced their stakes in ESI. Assetmark Inc. increased its holdings in shares of Element Solutions by 151.0% in the first quarter. Assetmark Inc. now owns 778 shares of the company’s stock valued at $27,000 after purchasing an additional 468 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Element Solutions during the 4th quarter worth about $28,000. NewEdge Advisors LLC boosted its holdings in shares of Element Solutions by 57.4% during the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after buying an additional 346 shares during the period. Community Bank N.A. acquired a new position in Element Solutions in the 3rd quarter valued at about $33,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Element Solutions in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Company Profile

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.