Element Solutions (NYSE:ESI) Price Target Raised to $29.00 at Mizuho

Element Solutions (NYSE:ESI) had its price target lifted by Mizuho from $28.00 to $29.00 in a research report sent to investors on Wednesday, Benzinga reports. Mizuho currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group raised their target price on Element Solutions from $22.00 to $26.00 and gave the stock a neutral rating in a research note on Tuesday, March 5th. TheStreet raised Element Solutions from a c+ rating to a b rating in a research report on Tuesday, February 20th. Wolfe Research initiated coverage on Element Solutions in a research report on Friday, March 1st. They set a peer perform rating on the stock. Barclays raised their price objective on Element Solutions from $25.00 to $26.00 and gave the company an overweight rating in a research report on Monday, February 26th. Finally, StockNews.com downgraded shares of Element Solutions from a buy rating to a hold rating in a research report on Saturday, May 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $27.60.

Element Solutions Price Performance

Shares of NYSE:ESI opened at $26.46 on Wednesday. The company’s fifty day moving average is $24.14 and its 200 day moving average is $23.43. Element Solutions has a 52 week low of $17.57 and a 52 week high of $27.08. The stock has a market cap of $6.40 billion, a PE ratio of 49.00, a PEG ratio of 2.06 and a beta of 1.29. The company has a quick ratio of 2.69, a current ratio of 3.63 and a debt-to-equity ratio of 0.82.

Element Solutions (NYSE:ESI) last posted its earnings results on Monday, April 29th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $575.00 million during the quarter, compared to analyst estimates of $588.17 million. Element Solutions had a net margin of 5.62% and a return on equity of 13.96%. Element Solutions’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. Research analysts anticipate that Element Solutions will post 1.41 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, May 31st. Element Solutions’s dividend payout ratio is 59.26%.

Institutional Investors Weigh In On Element Solutions

A number of institutional investors have recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Element Solutions during the first quarter valued at approximately $78,000. Castleark Management LLC grew its holdings in shares of Element Solutions by 13.3% during the first quarter. Castleark Management LLC now owns 286,050 shares of the company’s stock valued at $7,146,000 after buying an additional 33,590 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Element Solutions by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,259,088 shares of the company’s stock valued at $31,453,000 after buying an additional 41,718 shares during the last quarter. Capital World Investors purchased a new stake in shares of Element Solutions during the first quarter valued at approximately $44,527,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Element Solutions by 27.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 121,434 shares of the company’s stock worth $3,037,000 after purchasing an additional 26,104 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

About Element Solutions

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.