Element Solutions (NYSE:ESI) Stock Price Up 4.3% After Better-Than-Expected Earnings

Element Solutions Inc (NYSE:ESI) was up 4.3% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $27.83 and last traded at $27.82. Approximately 506,070 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,375,717 shares. The stock had previously closed at $26.67.

The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $645.00 million for the quarter, compared to analyst estimates of $626.52 million. Element Solutions had a return on equity of 14.42% and a net margin of 8.24%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 30th. This represents a $0.32 annualized dividend and a dividend yield of 1.15%. Element Solutions’s dividend payout ratio is presently 59.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Seaport Res Ptn raised Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. Finally, Wolfe Research upgraded Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ESI. Quarry LP purchased a new stake in Element Solutions during the 2nd quarter valued at approximately $31,000. LRI Investments LLC purchased a new position in Element Solutions during the first quarter valued at $78,000. EverSource Wealth Advisors LLC increased its holdings in Element Solutions by 39.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock valued at $82,000 after acquiring an additional 864 shares during the last quarter. Quest Partners LLC lifted its stake in Element Solutions by 14,600.0% in the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock worth $88,000 after purchasing an additional 3,212 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Element Solutions by 13.8% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock valued at $100,000 after purchasing an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Trading Up 4.4 %

The company has a debt-to-equity ratio of 0.80, a current ratio of 3.50 and a quick ratio of 2.60. The stock has a 50-day moving average price of $25.93 and a two-hundred day moving average price of $25.54. The stock has a market cap of $6.74 billion, a PE ratio of 51.09, a price-to-earnings-growth ratio of 1.53 and a beta of 1.29.

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.