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

Element Solutions Inc (NYSE:ESI)’s share price dropped 5.5% during mid-day trading on Thursday . The company traded as low as $23.50 and last traded at $23.35. Approximately 2,084,761 shares were traded during mid-day 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

A number of research firms have weighed in on ESI. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Truist Financial started coverage on Element Solutions in a report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 target price on the stock. BMO Capital Markets upped their price target on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. Finally, Barclays dropped their target price on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.14.

Element Solutions Price Performance

The company has a market cap of $5.57 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 2.30 and a beta of 1.29. The company’s 50-day simple moving average is $25.67 and its 200-day simple moving average is $26.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. On average, equities research analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s dividend payout ratio is currently 31.37%.

Insiders Place Their Bets

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the transaction, the director now directly owns 109,100 shares in the company, valued at $2,847,510. This represents a 94.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Element Solutions

A number of institutional investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new stake in shares of Element Solutions during the 3rd quarter valued at approximately $25,000. TD Private Client Wealth LLC acquired a new stake in shares of Element Solutions during the fourth quarter worth $27,000. Park Square Financial Group LLC bought a new position in shares of Element Solutions in the 4th quarter worth about $28,000. First Horizon Advisors Inc. boosted its holdings in shares of Element Solutions by 610.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock valued at $29,000 after buying an additional 971 shares during the period. Finally, Trust Co. of Vermont acquired a new stake in Element Solutions during the fourth quarter worth about $43,000. Institutional investors and hedge funds 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.