Element Solutions (NYSE:ESI) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Element Solutions (NYSE:ESI) released its earnings results on Monday. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04, FiscalAI reports. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The company had revenue of $977.90 million during the quarter, compared to the consensus estimate of $873.19 million.

Element Solutions Trading Up 1.0%

NYSE ESI traded up $0.39 on Monday, reaching $37.83. The company had a trading volume of 7,214,077 shares, compared to its average volume of 3,564,069. The stock’s 50 day moving average is $42.04 and its 200-day moving average is $36.95. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 1.30 and a beta of 1.23. The company has a quick ratio of 1.91, a current ratio of 2.68 and a debt-to-equity ratio of 0.75. Element Solutions has a 52 week low of $22.63 and a 52 week high of $49.25.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. Element Solutions’s payout ratio is 51.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ESI shares. BMO Capital Markets raised their price target on Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Wall Street Zen raised Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. UBS Group upped their target price on shares of Element Solutions to $52.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Truist Financial lifted their price target on shares of Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Seaport Research Partners reissued a “buy” rating and set a $49.00 price target on shares of Element Solutions in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Element Solutions has an average rating of “Buy” and an average target price of $43.00.

Hedge Funds Weigh In On Element Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in shares of Element Solutions by 43.6% in the 4th quarter. Invesco Ltd. now owns 7,069,238 shares of the company’s stock valued at $176,660,000 after buying an additional 2,146,512 shares during the period. Scopus Asset Management L.P. raised its stake in Element Solutions by 134.6% during the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock worth $77,602,000 after buying an additional 1,965,691 shares during the period. Jain Global LLC raised its stake in Element Solutions by 253.3% during the 4th quarter. Jain Global LLC now owns 2,127,297 shares of the company’s stock worth $53,161,000 after buying an additional 1,525,195 shares during the period. Victory Capital Management Inc. lifted its holdings in Element Solutions by 4,492.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,545,075 shares of the company’s stock worth $38,611,000 after acquiring an additional 1,511,430 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Element Solutions by 13.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,119,999 shares of the company’s stock worth $277,889,000 after acquiring an additional 1,298,273 shares in the last quarter. Institutional investors own 92.32% of the company’s stock.

Element Solutions Company Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.