Element Solutions (NYSE:ESI) Issues Earnings Results

Element Solutions (NYSE:ESI) issued its quarterly earnings results on Monday. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04, FiscalAI reports. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The firm had revenue of $977.90 million during the quarter, compared to analyst estimates of $873.19 million.

Element Solutions Trading Up 1.0%

Shares of NYSE ESI traded up $0.39 during mid-day trading on Monday, hitting $37.83. 7,184,533 shares of the company traded hands, compared to its average volume of 3,549,568. Element Solutions has a 1 year low of $22.63 and a 1 year high of $49.25. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 1.30 and a beta of 1.23. The company has a quick ratio of 1.91, a current ratio of 2.68 and a debt-to-equity ratio of 0.75. The business has a 50 day moving average of $42.04 and a two-hundred day moving average of $36.95.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. Element Solutions’s payout ratio is 51.61%.

Analysts Set New Price Targets

ESI has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Element Solutions in a research note on Tuesday, May 19th. Seaport Research Partners reissued a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a research report on Monday, April 20th. Truist Financial raised their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $45.00 price objective (down from $54.00) on shares of Element Solutions in a research note on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $43.00.

Hedge Funds Weigh In On Element Solutions

A number of institutional investors have recently bought and sold shares of ESI. Los Angeles Capital Management LLC purchased a new stake in Element Solutions during the fourth quarter valued at about $28,000. Johnson Financial Group Inc. purchased a new position in shares of Element Solutions in the third quarter worth approximately $47,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Element Solutions during the third quarter valued at approximately $49,000. Quarry LP lifted its position in shares of 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 acquiring an additional 431 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Element Solutions by 38.6% in the 3rd quarter. Parallel Advisors LLC now owns 2,110 shares of the company’s stock valued at $53,000 after acquiring an additional 588 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

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.