Element Solutions (NYSE:ESI) Stock Price Down 5.5% – Here’s What Happened

Element Solutions Inc (NYSE:ESI) dropped 5.5% during mid-day trading on Thursday . The stock traded as low as $23.50 and last traded at $23.35. Approximately 2,084,761 shares were traded during trading, an increase of 30% from the average daily volume of 1,601,779 shares. The stock had previously closed at $24.71.

Analyst Ratings Changes

Several research analysts have weighed in on ESI shares. Truist Financial assumed coverage on shares of Element Solutions in a research report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price target on the stock. BMO Capital Markets lifted their target price on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Barclays reduced their price target on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Bank of America reissued a “neutral” rating and issued a $28.00 target price (down from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

Element Solutions Stock Performance

The firm has a market capitalization of $5.62 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. The business’s fifty day simple moving average is $25.77 and its 200-day simple moving average is $26.33.

Element Solutions (NYSE:ESI) last posted its earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. As a group, equities research analysts expect that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s payout ratio is 31.37%.

Insider Transactions at Element Solutions

In related news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the sale, the director now owns 109,100 shares in the company, valued at approximately $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Element Solutions

Several institutional investors have recently bought and sold shares of the business. 111 Capital purchased a new stake in shares of Element Solutions during the 4th quarter valued at about $300,000. Wealth Enhancement Advisory Services LLC increased its stake in Element Solutions by 26.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,149 shares of the company’s stock worth $716,000 after acquiring an additional 5,966 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in Element Solutions during the fourth quarter valued at approximately $28,000. Polar Asset Management Partners Inc. lifted its stake in shares of Element Solutions by 61.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 162,075 shares of the company’s stock valued at $4,122,000 after purchasing an additional 61,775 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Element Solutions by 234.0% in the 4th quarter. Mackenzie Financial Corp now owns 44,681 shares of the company’s stock valued at $1,136,000 after purchasing an additional 31,302 shares during the last quarter. Institutional investors 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.