Element Solutions (NYSE:ESI) Sets New 1-Year High – Time to Buy?

Shares of Element Solutions Inc. (NYSE:ESI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $30.21 and last traded at $29.4410, with a volume of 292125 shares traded. The stock had previously closed at $29.29.

Wall Street Analysts Forecast Growth

ESI has been the topic of a number of research analyst reports. BMO Capital Markets cut shares of Element Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Truist Financial boosted their target price on Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. CJS Securities raised shares of Element Solutions to a “strong-buy” rating in a research report on Thursday, December 11th. Mizuho reduced their price target on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Finally, KeyCorp boosted their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Element Solutions Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.28 and a current ratio of 4.05. The stock has a market capitalization of $7.20 billion, a PE ratio of 30.09, a P/E/G ratio of 1.25 and a beta of 1.28. The firm’s 50 day moving average is $26.63 and its two-hundred day moving average is $25.88.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $656.10 million during the quarter, compared to the consensus estimate of $645.13 million. Element Solutions had a net margin of 9.58% and a return on equity of 14.01%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, research 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 declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Element Solutions’s dividend payout ratio (DPR) is currently 32.32%.

Insider Activity

In related news, insider Matthew Liebowitz sold 37,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 117,393 shares in the company, valued at approximately $3,122,653.80. This represents a 23.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian G. H. Ashken sold 292,000 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 48.76% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Element Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its stake in Element Solutions by 339.3% during the 1st quarter. Millennium Management LLC now owns 446,622 shares of the company’s stock worth $10,098,000 after buying an additional 344,950 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Element Solutions by 60.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,894,061 shares of the company’s stock valued at $42,825,000 after purchasing an additional 712,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Element Solutions by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 872,451 shares of the company’s stock valued at $19,726,000 after buying an additional 37,204 shares during the period. Focus Partners Wealth purchased a new position in Element Solutions in the first quarter worth $400,000. Finally, Fifth Third Bancorp increased its holdings in shares of Element Solutions by 462.5% in the 2nd quarter. Fifth Third Bancorp now owns 2,160 shares of the company’s stock valued at $49,000 after purchasing an additional 1,776 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

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.