Element Solutions (NYSE:ESI) Shares Gap Down to $26.92

Element Solutions Inc (NYSE:ESI)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $26.92, but opened at $26.11. Element Solutions shares last traded at $26.64, with a volume of 163,929 shares traded.

Analyst Ratings Changes

ESI has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on Element Solutions from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. BMO Capital Markets restated an “outperform” rating and set a $30.00 price target (up from $28.00) on shares of Element Solutions in a research note on Wednesday, June 12th. UBS Group boosted their price target on Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Mizuho boosted their price target on Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Element Solutions Trading Down 3.0 %

The stock has a 50 day moving average of $26.22 and a 200-day moving average of $24.58. The company has a market capitalization of $6.33 billion, a P/E ratio of 49.90, a P/E/G ratio of 1.27 and a beta of 1.31. The company has a current ratio of 3.50, a quick ratio of 2.69 and a debt-to-equity ratio of 0.80.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Element Solutions had a return on equity of 14.42% and a net margin of 8.24%. The business had revenue of $613.00 million during the quarter, compared to the consensus estimate of $606.95 million. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts predict that Element Solutions Inc will post 1.43 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 1.22%. Element Solutions’s payout ratio is 59.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new stake in shares of Element Solutions during the 4th quarter worth approximately $27,000. SRS Capital Advisors Inc. raised its holdings in shares of Element Solutions by 370.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,623 shares of the company’s stock worth $38,000 after acquiring an additional 1,278 shares in the last quarter. CWM LLC raised its holdings in shares of Element Solutions by 95.9% during the 4th quarter. CWM LLC now owns 1,810 shares of the company’s stock worth $42,000 after acquiring an additional 886 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Element Solutions by 51.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,002 shares of the company’s stock worth $46,000 after acquiring an additional 684 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Element Solutions by 1,585.0% during the 4th quarter. Assetmark Inc. now owns 2,022 shares of the company’s stock worth $47,000 after acquiring an additional 1,902 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

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.