Element Solutions Inc (NYSE:ESI) Sees Large Increase in Short Interest

Element Solutions Inc (NYSE:ESI) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,720,000 shares, a growth of 72.2% from the February 28th total of 1,580,000 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 2,510,000 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

Several research firms have commented on ESI. Barclays decreased their price objective 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. Truist Financial assumed coverage on Element Solutions in a research report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price objective on the stock. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. BMO Capital Markets boosted their price target on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Bank of America restated a “neutral” rating and set a $28.00 price objective (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.14.

Insider Activity at Element Solutions

In other news, Director Martin E. Franklin sold 2,000,000 shares of the company’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 completion of the sale, the director now 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 hyperlink. 7.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ESI. Integrated Wealth Concepts LLC raised its position in shares of Element Solutions by 1.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company’s stock worth $610,000 after buying an additional 423 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Element Solutions by 4.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company’s stock valued at $287,000 after acquiring an additional 430 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Element Solutions by 0.8% during the 4th quarter. Arizona State Retirement System now owns 66,761 shares of the company’s stock valued at $1,698,000 after acquiring an additional 545 shares during the last quarter. Equitable Trust Co. grew its holdings in shares of Element Solutions by 1.7% during the fourth quarter. Equitable Trust Co. now owns 34,103 shares of the company’s stock worth $867,000 after purchasing an additional 576 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Element Solutions by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company’s stock valued at $2,502,000 after purchasing an additional 610 shares in the last quarter. 92.32% of the stock is owned by institutional investors.

Element Solutions Price Performance

Shares of NYSE ESI opened at $22.96 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. Element Solutions has a fifty-two week low of $22.71 and a fifty-two week high of $29.78. The stock has a market cap of $5.57 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. The stock has a fifty day moving average of $25.67 and a 200-day moving average of $26.31.

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

Element Solutions Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s dividend payout ratio is presently 31.37%.

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.