Brokerages Set Element Solutions Inc (NYSE:ESI) Price Target at $30.14

Shares of Element Solutions Inc (NYSE:ESI) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $30.14.

Several equities research analysts have weighed in on the company. Truist Financial assumed coverage on Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target on the stock. StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Barclays decreased their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. BMO Capital Markets raised their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Bank of America reiterated a “neutral” rating and set a $28.00 target price (down previously from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th.

Element Solutions Trading Down 1.7 %

NYSE ESI opened at $27.07 on Friday. Element Solutions has a one year low of $21.42 and a one year high of $29.78. The firm has a 50 day simple moving average of $25.78 and a 200-day simple moving average of $26.32. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.24 and a beta of 1.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.77 and a current ratio of 3.52.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The company had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $598.24 million. Equities research analysts anticipate that Element Solutions will post 1.46 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.08 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.18%. Element Solutions’s dividend payout ratio (DPR) is presently 31.37%.

Hedge Funds Weigh In On Element Solutions

Hedge funds have recently made changes to their positions in the company. Ilex Capital Partners UK LLP increased its position in Element Solutions by 162.7% during the third quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock worth $67,085,000 after buying an additional 1,529,607 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Element Solutions by 549.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock valued at $43,983,000 after acquiring an additional 1,369,981 shares during the period. FIL Ltd purchased a new stake in Element Solutions in the 4th quarter valued at $29,818,000. London Co. of Virginia acquired a new stake in Element Solutions during the 4th quarter worth $29,800,000. Finally, Boston Partners purchased a new position in Element Solutions during the 4th quarter worth $24,169,000. 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.