Element Solutions Inc. (NYSE:ESI) Stock Has Average Target Price of $45.50

Element Solutions Inc. (NYSE:ESI) has been given a consensus recommendation of “Buy” by the twelve brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $46.18.

ESI has been the topic of several research analyst reports. The Goldman Sachs Group began coverage on Element Solutions in a research note on Friday, September 11th. They issued a “buy” rating and a $44.00 price objective on the stock. Bank of America began coverage on Element Solutions in a research report on Tuesday, September 1st. They set a “buy” rating and a $42.00 target price for the company. Mizuho lowered their target price on Element Solutions from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Barclays began coverage on Element Solutions in a research report on Monday. They set an “overweight” rating and a $53.00 price target on the stock. Finally, Wolfe Research set a $47.00 price target on Element Solutions in a research note on Wednesday, July 29th.

Element Solutions Price Performance

NYSE:ESI opened at $37.23 on Wednesday. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $9.07 billion, a P/E ratio of 50.31, a P/E/G ratio of 1.35 and a beta of 1.26. Element Solutions has a 12 month low of $22.86 and a 12 month high of $49.25. The business’s 50-day moving average is $35.93 and its 200 day moving average is $38.84.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%. The company had revenue of $977.90 million during the quarter, compared to analyst estimates of $873.19 million. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 56.4% on a year-over-year basis. On average, equities research analysts forecast that Element Solutions will post 1.81 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Element Solutions’s dividend payout ratio (DPR) is presently 43.24%.

Institutional Investors Weigh In On Element Solutions

A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in Element Solutions during the second quarter worth $27,000. Assetmark Inc. lifted its position in Element Solutions by 151.0% during the 1st quarter. Assetmark Inc. now owns 778 shares of the company’s stock worth $27,000 after buying an additional 468 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Element Solutions by 57.4% in the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock valued at $32,000 after purchasing an additional 346 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Element Solutions during the second quarter worth $63,000. Finally, Allworth Financial LP bought a new position in shares of Element Solutions in the 2nd quarter valued at about $66,000. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

About Element Solutions

Element Solutions Inc (NYSE: ESI) is a specialty chemicals company that develops and manufactures products used in electronics, industrial processes, and other specialized applications. Its materials and process solutions are designed to improve manufacturing performance, product reliability, and surface protection across a range of end markets.

The company’s Electronics segment supplies chemicals, materials, and equipment used in printed circuit board fabrication, semiconductor packaging, and other electronic component manufacturing.