Element Solutions (NYSE:ESI) Upgraded to “Strong-Buy” at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Element Solutions (NYSE:ESI) to a strong-buy rating in a report published on Monday morning, Zacks.com reports.

ESI has been the subject of several other research reports. The Goldman Sachs Group increased their price target on shares of Element Solutions from $26.00 to $29.00 and gave the stock a neutral rating in a research report on Thursday, June 27th. UBS Group increased their target price on Element Solutions from $30.00 to $33.00 and gave the stock a buy rating in a report on Monday, June 24th. Finally, StockNews.com raised Element Solutions from a hold rating to a buy rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Element Solutions has an average rating of Moderate Buy and an average target price of $29.40.

Element Solutions Price Performance

Shares of NYSE:ESI opened at $26.18 on Monday. The firm has a market capitalization of $6.34 billion, a PE ratio of 48.48, a PEG ratio of 1.39 and a beta of 1.29. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.80. Element Solutions has a 1-year low of $17.57 and a 1-year high of $28.68. The business’s 50 day moving average is $25.80 and its 200-day moving average is $25.49.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The firm had revenue of $613.00 million for the quarter, compared to the consensus estimate of $606.95 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Element Solutions will post 1.44 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, August 30th. Element Solutions’s dividend payout ratio (DPR) is 59.26%.

Hedge Funds Weigh In On Element Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its stake in Element Solutions by 149.2% in the second quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock valued at $106,698,000 after acquiring an additional 2,355,554 shares during the period. Capital World Investors acquired a new stake in Element Solutions in the 1st quarter valued at $44,527,000. Driehaus Capital Management LLC acquired a new position in Element Solutions during the second quarter valued at approximately $32,364,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Element Solutions by 14.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,289,741 shares of the company’s stock valued at $143,458,000 after buying an additional 676,432 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Element Solutions by 43.5% during the second quarter. Millennium Management LLC now owns 1,134,112 shares of the company’s stock worth $30,757,000 after buying an additional 344,017 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

About Element Solutions

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.