Element Solutions (NYSE:ESI) Trading 4.3% Higher Following Strong Earnings

Element Solutions Inc (NYSE:ESI)’s share price shot up 4.3% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $27.83 and last traded at $27.82. 506,070 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 1,375,717 shares. The stock had previously closed at $26.67.

The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. Element Solutions had a return on equity of 14.42% and a net margin of 8.24%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions’s dividend payout ratio (DPR) is currently 59.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ESI. Seaport Res Ptn upgraded Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. BMO Capital Markets upped their price target on Element Solutions from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays upped their price target on Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday. Wolfe Research raised Element Solutions from a “peer perform” rating to an “outperform” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Institutional Trading of Element Solutions

Several institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new position in Element Solutions in the 2nd quarter valued at $31,000. LRI Investments LLC bought a new position in Element Solutions in the 1st quarter valued at $78,000. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 864 shares during the last quarter. Quest Partners LLC raised its position in Element Solutions by 14,600.0% in the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock valued at $88,000 after purchasing an additional 3,212 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Element Solutions by 13.8% during the second quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after acquiring an additional 448 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Trading Down 0.5 %

The company has a market cap of $6.67 billion, a P/E ratio of 51.04, a P/E/G ratio of 1.53 and a beta of 1.29. The company has a quick ratio of 2.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $25.98 and a two-hundred day moving average price of $25.57.

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.