Element Solutions (NYSE:ESI) Announces Quarterly Earnings Results

Element Solutions (NYSE:ESI – Get Rating) announced its quarterly earnings data on Wednesday. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03, MarketWatch Earnings reports. Element Solutions had a return on equity of 13.74% and a net margin of 7.00%. During the same quarter last year, the business earned $0.37 earnings per share. Element Solutions updated its FY22 guidance to $1.55-1.60 EPS.

Shares of NYSE:ESI traded down $0.68 during trading on Friday, hitting $20.62. 1,728,477 shares of the company were exchanged, compared to its average volume of 1,156,993. The company has a market cap of $5.11 billion, a PE ratio of 28.64, a P/E/G ratio of 0.89 and a beta of 1.42. The stock has a 50 day moving average of $21.69 and a 200 day moving average of $23.02. Element Solutions has a 52-week low of $19.29 and a 52-week high of $26.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.93 and a quick ratio of 2.26.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 1st were given a dividend of $0.08 per share. The ex-dividend date was Monday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 1.55%. Element Solutions’s dividend payout ratio is currently 44.44%.

Several equities analysts have weighed in on the company. Zacks Investment Research lowered Element Solutions from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Tuesday, March 1st. CL King initiated coverage on Element Solutions in a report on Monday, January 24th. They set a “buy” rating and a $28.00 price objective for the company. StockNews.com initiated coverage on Element Solutions in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their target price on Element Solutions from $22.50 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 11th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.46.

In related news, Director Nichelle Maynard-Elliott sold 9,141 shares of the stock in a transaction on Friday, March 18th. The stock was sold at an average price of $22.67, for a total value of $207,226.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Element Solutions by 16.8% in the fourth quarter. BlackRock Inc. now owns 12,242,924 shares of the company’s stock worth $297,256,000 after buying an additional 1,764,339 shares in the last quarter. Morgan Stanley raised its position in shares of Element Solutions by 80.4% in the third quarter. Morgan Stanley now owns 369,318 shares of the company’s stock worth $8,008,000 after buying an additional 164,592 shares in the last quarter. Legal & General Group Plc raised its position in shares of Element Solutions by 1.0% in the fourth quarter. Legal & General Group Plc now owns 326,653 shares of the company’s stock worth $7,931,000 after buying an additional 3,266 shares in the last quarter. Stifel Financial Corp raised its position in shares of Element Solutions by 91.6% in the fourth quarter. Stifel Financial Corp now owns 27,364 shares of the company’s stock worth $665,000 after buying an additional 13,085 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Element Solutions during the fourth quarter valued at about $112,000. Institutional investors own 90.05% of the company’s stock.

Element Solutions Company Profile (Get Rating)

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.

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