Element Solutions (NYSE:ESI) Hits New 12-Month Low – Time to Sell?

Shares of Element Solutions Inc (NYSE:ESI) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $20.70 and last traded at $20.77, with a volume of 425000 shares changing hands. The stock had previously closed at $22.69.

Analyst Ratings Changes

ESI has been the subject of several research analyst reports. KeyCorp began coverage on Element Solutions in a report on Thursday. They issued an “overweight” rating and a $29.00 price objective for the company. Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down previously from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. Barclays reduced their target price on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Truist Financial initiated 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 for the company. Finally, StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Element Solutions Price Performance

The stock’s fifty day moving average is $25.46 and its 200-day moving average is $26.25. The stock has a market capitalization of $4.88 billion, a P/E ratio of 19.73, a PEG ratio of 2.30 and a beta of 1.29. 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 posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. On average, equities analysts anticipate that Element Solutions Inc will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s dividend payout ratio is currently 31.37%.

Insider Transactions at Element Solutions

In related 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 transaction of $52,200,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.90% of the company’s stock.

Institutional Trading of Element Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its position in Element Solutions by 79.0% during the fourth quarter. Park Avenue Securities LLC now owns 60,612 shares of the company’s stock worth $1,541,000 after buying an additional 26,753 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Element Solutions in the fourth quarter worth $423,000. Charles Schwab Investment Management Inc. boosted its stake in Element Solutions by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company’s stock worth $59,224,000 after buying an additional 29,253 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Element Solutions by 18.6% in the 4th quarter. Principal Financial Group Inc. now owns 74,709 shares of the company’s stock valued at $1,900,000 after buying an additional 11,702 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Element Solutions in the 4th quarter valued at $433,000. 92.32% of the stock is currently 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.