Truist Financial Issues Positive Forecast for Element Solutions (NYSE:ESI) Stock Price

Element Solutions (NYSE:ESI) had its price target boosted by Truist Financial from $30.00 to $33.00 in a research note released on Wednesday, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the stock.

ESI has been the topic of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, October 8th. CJS Securities upgraded Element Solutions to a “strong-buy” rating in a research note on Thursday, December 11th. Bank of America increased their price target on shares of Element Solutions from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. KeyCorp raised their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, BMO Capital Markets cut shares of Element Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Element Solutions Trading Up 2.9%

NYSE:ESI opened at $29.25 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.28 and a current ratio of 4.05. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 1.21 and a beta of 1.28. Element Solutions has a 52 week low of $16.77 and a 52 week high of $29.75. The firm has a 50-day moving average price of $26.34 and a two-hundred day moving average price of $25.75.

Element Solutions (NYSE:ESI) last announced its earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $656.10 million for the quarter, compared to the consensus estimate of $645.13 million. Element Solutions had a return on equity of 14.01% and a net margin of 9.58%.The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. On average, equities analysts expect that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Element Solutions’s payout ratio is presently 32.32%.

Insider Buying and Selling at Element Solutions

In other news, insider Matthew Liebowitz sold 37,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $3,122,653.80. This trade represents a 23.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ian G. H. Ashken sold 292,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $27.00, for a total value of $7,884,000.00. Following the sale, the director owned 306,880 shares in the company, valued at approximately $8,285,760. The trade was a 48.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Element Solutions

A number of large investors have recently modified their holdings of ESI. Invesco Ltd. grew its stake in Element Solutions by 68.6% during the third quarter. Invesco Ltd. now owns 4,922,726 shares of the company’s stock valued at $123,905,000 after acquiring an additional 2,003,724 shares in the last quarter. Scopus Asset Management L.P. grew its position in shares of Element Solutions by 134.6% during the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock valued at $77,602,000 after purchasing an additional 1,965,691 shares in the last quarter. Ilex Capital Partners UK LLP increased its holdings in shares of Element Solutions by 61.7% in the second quarter. Ilex Capital Partners UK LLP now owns 4,656,299 shares of the company’s stock worth $105,465,000 after purchasing an additional 1,777,265 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Element Solutions by 253.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,349,862 shares of the company’s stock worth $59,146,000 after purchasing an additional 1,684,994 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in shares of Element Solutions in the second quarter worth $28,031,000. 92.32% of the stock is currently owned by institutional investors.

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.