Element Solutions (NYSE:ESI) Sets New 12-Month High – Still a Buy?

Element Solutions Inc. (NYSE:ESI)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $30.21 and last traded at $29.4410, with a volume of 292125 shares. The stock had previously closed at $29.29.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, January 21st. BMO Capital Markets lowered shares of Element Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Truist Financial increased their price objective on Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Mizuho lowered their price objective on Element Solutions from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Finally, CJS Securities raised Element Solutions to a “strong-buy” rating in a research report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Element Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Element Solutions Stock Down 2.5%

The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.05 and a quick ratio of 3.28. The business has a fifty day moving average price of $26.88 and a two-hundred day moving average price of $25.94.

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

Element Solutions Announces Dividend

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

Insider Buying and Selling at Element Solutions

In related news, insider Matthew Liebowitz sold 37,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $26.60, for a total transaction of $984,200.00. Following the completion of the transaction, the insider directly owned 117,393 shares in the company, valued at $3,122,653.80. The trade was a 23.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 292,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $27.00, for a total transaction of $7,884,000.00. Following the completion of the sale, the director directly 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. The SEC filing for this sale provides additional information. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Element Solutions

A number of hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its position in Element Solutions by 0.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 51,200 shares of the company’s stock worth $1,289,000 after purchasing an additional 400 shares during the last quarter. Quarry LP boosted its stake in shares of Element Solutions by 27.3% during the third quarter. Quarry LP now owns 2,011 shares of the company’s stock worth $51,000 after buying an additional 431 shares during the period. Versant Capital Management Inc increased its position in Element Solutions by 6.2% in the 3rd quarter. Versant Capital Management Inc now owns 7,415 shares of the company’s stock valued at $187,000 after acquiring an additional 433 shares during the period. US Bancorp DE raised its stake in Element Solutions by 3.9% during the 3rd quarter. US Bancorp DE now owns 15,000 shares of the company’s stock valued at $378,000 after acquiring an additional 558 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Element Solutions by 38.6% during the 3rd quarter. Parallel Advisors LLC now owns 2,110 shares of the company’s stock valued at $53,000 after acquiring an additional 588 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Company Profile

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.