Mizuho Has Lowered Expectations for Element Solutions (NYSE:ESI) Stock Price

Element Solutions (NYSE:ESI) had its price target decreased by research analysts at Mizuho from $31.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 20.56% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. UBS Group upped their target price on Element Solutions from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. BMO Capital Markets upped their target price on shares of Element Solutions from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Truist Financial lifted their price target on shares of Element Solutions from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Bank of America upped their price objective on shares of Element Solutions from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, KeyCorp lifted their target price on Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Element Solutions presently has an average rating of “Moderate Buy” and an average target price of $30.75.

Element Solutions Trading Down 0.4%

Shares of Element Solutions stock traded down $0.11 during trading hours on Thursday, hitting $24.06. The company’s stock had a trading volume of 680,066 shares, compared to its average volume of 2,455,084. The business has a fifty day moving average of $26.10 and a 200 day moving average of $24.33. Element Solutions has a 1-year low of $16.77 and a 1-year high of $29.78. The company has a quick ratio of 3.30, a current ratio of 4.05 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $5.82 billion, a PE ratio of 24.36, a P/E/G ratio of 1.74 and a beta of 1.36.

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

Insiders Place Their Bets

In other news, EVP John Edward Capps sold 77,674 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $26.77, for a total transaction of $2,079,332.98. Following the transaction, the executive vice president directly owned 609,790 shares of the company’s stock, valued at approximately $16,324,078.30. This trade represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian G. H. Ashken sold 292,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was 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 of the company’s stock, valued at $8,285,760. The trade was a 48.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 460,399 shares of company stock worth $12,376,561. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Element Solutions

Several hedge funds have recently made changes to their positions in ESI. Gates Capital Management Inc. grew its position in Element Solutions by 101.9% in the first quarter. Gates Capital Management Inc. now owns 5,424,745 shares of the company’s stock worth $122,653,000 after buying an additional 2,738,250 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Element Solutions by 12.1% during the first quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company’s stock valued at $563,732,000 after purchasing an additional 2,688,056 shares during the last quarter. Invesco Ltd. boosted its position in shares of Element Solutions by 68.6% in the 3rd quarter. Invesco Ltd. now owns 4,922,726 shares of the company’s stock valued at $123,905,000 after purchasing an additional 2,003,724 shares during the period. Scopus Asset Management L.P. increased its stake in Element Solutions by 134.6% in the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock worth $77,602,000 after purchasing an additional 1,965,691 shares in the last quarter. Finally, Ilex Capital Partners UK LLP raised its holdings in Element Solutions by 61.7% during the 2nd quarter. Ilex Capital Partners UK LLP now owns 4,656,299 shares of the company’s stock worth $105,465,000 after buying an additional 1,777,265 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Company Profile

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.