Element Solutions (NYSE:ESI) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Element Solutions (NYSE:ESI) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

Other research analysts have also recently issued research reports about the stock. Truist Financial began coverage on shares of Element Solutions in a report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 target price for the company. Barclays dropped their price objective on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 27th. BMO Capital Markets raised their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.14.

Element Solutions Stock Down 2.5 %

ESI stock opened at $24.65 on Tuesday. The stock has a market capitalization of $5.98 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. Element Solutions has a 12 month low of $23.10 and a 12 month high of $29.78. The firm has a 50-day moving average price of $25.72 and a 200-day moving average price of $26.36.

Element Solutions (NYSE:ESI) last posted its earnings results on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. As a group, equities research analysts anticipate that Element Solutions will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.32 annualized dividend and a yield of 1.30%. Element Solutions’s payout ratio is 31.37%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ESI. Allspring Global Investments Holdings LLC raised its holdings in Element Solutions by 306.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,675 shares of the company’s stock worth $127,000 after purchasing an additional 3,525 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Element Solutions by 28.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,183 shares of the company’s stock worth $602,000 after purchasing an additional 4,893 shares during the last quarter. US Bancorp DE raised its holdings in Element Solutions by 0.9% during the 3rd quarter. US Bancorp DE now owns 46,005 shares of the company’s stock worth $1,249,000 after purchasing an additional 417 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Element Solutions by 107.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 105,745 shares of the company’s stock worth $2,872,000 after buying an additional 54,686 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Element Solutions by 8.7% during the 3rd quarter. QRG Capital Management Inc. now owns 12,377 shares of the company’s stock worth $336,000 after buying an additional 988 shares during the period. Institutional investors own 92.32% of the company’s stock.

About Element Solutions

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.