Element Solutions (NYSE:ESI) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Element Solutions Inc. (NYSE:ESI) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $35.25 and traded as high as $35.82. Element Solutions shares last traded at $35.7640, with a volume of 3,106,837 shares.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ESI shares. Jefferies Financial Group assumed coverage on shares of Element Solutions in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $55.00 price objective for the company. Barclays dropped their target price on Element Solutions from $53.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Weiss Ratings upgraded Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. The Goldman Sachs Group started coverage on Element Solutions in a research note on Friday, September 11th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, William Blair set a $48.00 target price on Element Solutions in a research note on Friday, August 28th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Element Solutions has an average rating of “Buy” and a consensus price target of $46.36.

Element Solutions Stock Down 3.4%

The stock’s fifty day moving average is $35.20 and its two-hundred day moving average is $36.77. The company has a current ratio of 2.78, a quick ratio of 2.06 and a debt-to-equity ratio of 0.71. The firm has a market cap of $8.30 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $995.30 million during the quarter, compared to the consensus estimate of $964.23 million. Element Solutions had a net margin of 5.87% and a return on equity of 15.45%. The business’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. As a group, research analysts anticipate that Element Solutions Inc. will post 1.85 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 0.9%. Element Solutions’s dividend payout ratio (DPR) is currently 37.65%.

Hedge Funds Weigh In On Element Solutions

A number of institutional investors have recently added to or reduced their stakes in ESI. Integrated Wealth Concepts LLC purchased a new stake in Element Solutions in the second quarter valued at approximately $27,000. Assetmark Inc. increased its holdings in shares of Element Solutions by 151.0% in the 1st quarter. Assetmark Inc. now owns 778 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the last quarter. Fortitude Family Office LLC raised its position in shares of Element Solutions by 373.1% during the 3rd quarter. Fortitude Family Office LLC now owns 932 shares of the company’s stock valued at $34,000 after buying an additional 735 shares in the last quarter. NewEdge Advisors LLC raised 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 valued at $32,000 after buying an additional 346 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Element Solutions during the 2nd quarter valued at $63,000. 92.32% of the stock is currently owned by institutional investors.

About Element Solutions

Element Solutions Inc (NYSE: ESI) is a specialty chemicals company that develops and produces materials used in electronics manufacturing and a range of industrial applications. Its products are designed to support processes such as printed circuit board fabrication, semiconductor packaging, electronic assembly, metal finishing, and surface treatment.

Through its electronics-focused businesses, including MacDermid Alpha Solutions, the company supplies solder materials, electronic assembly chemicals, circuit board materials, and semiconductor packaging solutions.