Element Solutions (NYSE:ESI) Upgraded at Truist Financial

Truist Financial upgraded shares of Element Solutions (NYSE:ESI) from a hold rating to a buy rating in a research report released on Monday, MarketBeat reports. They currently have $24.00 price target on the stock, down from their previous price target of $28.00.

A number of other equities research analysts also recently issued reports on ESI. KeyCorp began coverage on shares of Element Solutions in a research report on Thursday, April 3rd. They set an “overweight” rating and a $29.00 price target for the company. BMO Capital Markets raised their target price on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Bank of America restated a “neutral” rating and issued a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, Barclays cut their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.88.

Element Solutions Stock Down 0.7 %

ESI opened at $18.62 on Monday. The company has a market cap of $4.51 billion, a PE ratio of 18.26, a P/E/G ratio of 2.30 and a beta of 1.28. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average price of $23.78 and a two-hundred day moving average price of $25.63. Element Solutions has a 52 week low of $16.77 and a 52 week high of $29.78.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate 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, research analysts anticipate that Element Solutions will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 annualized dividend and a yield of 1.72%. Element Solutions’s dividend payout ratio is presently 31.37%.

Insider Activity

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the transaction, the director now owns 109,100 shares of the company’s stock, valued at $2,847,510. This trade represents a 94.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.90% of the company’s stock.

Institutional Trading of Element Solutions

Several institutional investors have recently added to or reduced their stakes in ESI. Park Avenue Securities LLC boosted its holdings in shares of Element Solutions by 79.0% in the 4th quarter. Park Avenue Securities LLC now owns 60,612 shares of the company’s stock valued at $1,541,000 after buying an additional 26,753 shares during the period. Proficio Capital Partners LLC acquired a new position in Element Solutions in the fourth quarter valued at approximately $423,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Element Solutions by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company’s stock valued at $59,224,000 after purchasing an additional 29,253 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Element Solutions by 18.6% during the 4th quarter. Principal Financial Group Inc. now owns 74,709 shares of the company’s stock worth $1,900,000 after purchasing an additional 11,702 shares during the period. Finally, Boston Partners bought a new stake in shares of Element Solutions in the 4th quarter worth approximately $24,169,000. 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.