Truist Financial Initiates Coverage on Element Solutions (NYSE:ESI)

Truist Financial began coverage on shares of Element Solutions (NYSE:ESI) in a report released on Tuesday, MarketBeat reports. The firm issued a hold rating and a $28.00 target price on the stock.

ESI has been the subject of a number of other reports. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Barclays decreased their target price on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America reissued a “neutral” rating and set a $28.00 price target (down from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Wolfe Research raised shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. Finally, Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a report on Monday, October 14th. Four 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 company’s stock. According to data from MarketBeat.com, Element Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $30.14.

Element Solutions Stock Performance

Element Solutions stock opened at $25.79 on Tuesday. Element Solutions has a 52 week low of $21.42 and a 52 week high of $29.78. The company has a current ratio of 3.52, a quick ratio of 2.77 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.24 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 2.12 and a beta of 1.30. The stock has a 50 day moving average of $26.45 and a 200-day moving average of $26.42.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $645.00 million for the quarter, compared to the consensus estimate of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. On average, analysts expect that Element Solutions will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.08 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.24%. Element Solutions’s dividend payout ratio is currently 28.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ESI. True Wealth Design LLC acquired a new stake in shares of Element Solutions in the third quarter valued at approximately $25,000. Quarry LP bought a new stake in Element Solutions during the 2nd quarter valued at $31,000. Trust Co. of Vermont bought a new stake in Element Solutions during the 4th quarter valued at $43,000. UMB Bank n.a. boosted its position in Element Solutions by 98.8% during the 4th quarter. UMB Bank n.a. now owns 1,910 shares of the company’s stock worth $49,000 after acquiring an additional 949 shares during the period. Finally, Richardson Financial Services Inc. grew its stake in shares of Element Solutions by 77.5% in the fourth quarter. Richardson Financial Services Inc. now owns 2,086 shares of the company’s stock worth $53,000 after purchasing an additional 911 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

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.