Element Solutions (NYSE:ESI) Hits New 1-Year High – Here’s Why

Element Solutions Inc. (NYSE:ESI) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $45.91 and last traded at $45.5050, with a volume of 178171 shares traded. The stock had previously closed at $43.70.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ESI shares. BMO Capital Markets restated an “outperform” rating on shares of Element Solutions in a research note on Wednesday, May 20th. Freedom Capital upgraded shares of Element Solutions to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a research note on Monday, April 20th. The Goldman Sachs Group restated a “neutral” rating and set a $37.00 price objective on shares of Element Solutions in a research note on Monday, February 23rd. Finally, Truist Financial boosted their price objective on shares of Element Solutions from $38.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $39.57.

Element Solutions Price Performance

The company’s fifty day moving average price is $40.80 and its 200 day moving average price is $33.73. The company has a market capitalization of $10.87 billion, a P/E ratio of 71.99, a PEG ratio of 1.57 and a beta of 1.25. The company has a quick ratio of 1.91, a current ratio of 2.68 and a debt-to-equity ratio of 0.75.

Element Solutions (NYSE:ESI) last announced its earnings results on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $710.51 million. During the same period last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, sell-side analysts forecast that Element Solutions Inc. will post 1.78 EPS for the current year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 1st. Element Solutions’s dividend payout ratio is presently 51.61%.

Institutional Investors Weigh In On Element Solutions

A number of large investors have recently bought and sold shares of ESI. Assetmark Inc. grew its stake in Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company’s stock worth $27,000 after buying an additional 468 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Element Solutions during the 4th quarter worth $28,000. NewEdge Advisors LLC lifted its position in shares of Element Solutions by 57.4% during the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after buying an additional 346 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Element Solutions during the 3rd quarter worth $33,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Element Solutions during the 3rd quarter worth $41,000. 92.32% of the stock is currently owned by institutional investors and hedge funds.

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.