Element Solutions (NYSE:ESI) Shares Gap Up – Here’s Why

Element Solutions Inc (NYSE:ESI) gapped up before the market opened on Monday . The stock had previously closed at $24.85, but opened at $25.75. Element Solutions shares last traded at $24.94, with a volume of 1,047,914 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ESI shares. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Truist Financial started coverage on shares of Element Solutions in a research report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target for the company. Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. Barclays decreased their target price on Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, BMO Capital Markets raised their price target on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Element Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.14.

Element Solutions Stock Performance

The company has a market capitalization of $6.16 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. The stock’s fifty day simple moving average is $25.71 and its 200-day simple moving average is $26.37.

Element Solutions (NYSE:ESI) last announced its earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates 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 analysts predict that Element Solutions Inc will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, March 3rd. Element Solutions’s dividend payout ratio is currently 31.37%.

Hedge Funds Weigh In On Element Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. increased its holdings 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 last quarter. Equitable Trust Co. increased its stake in Element Solutions by 2.2% during the third quarter. Equitable Trust Co. now owns 33,527 shares of the company’s stock worth $911,000 after acquiring an additional 733 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Element Solutions by 2.3% in the 3rd quarter. WCM Investment Management LLC now owns 1,857,560 shares of the company’s stock worth $50,173,000 after purchasing an additional 41,309 shares during the period. MQS Management LLC lifted its stake in shares of Element Solutions by 38.6% in the 3rd quarter. MQS Management LLC now owns 10,566 shares of the company’s stock valued at $287,000 after purchasing an additional 2,945 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Element Solutions by 16.7% during the 3rd quarter. KBC Group NV now owns 6,901 shares of the company’s stock worth $187,000 after purchasing an additional 987 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Company Profile

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.