Element Solutions (NYSE:ESI) Research Coverage Started at Bank of America

Bank of America began coverage on shares of Element Solutions (NYSE:ESI) in a research report sent to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $42.00 price objective on the stock.

Several other brokerages have also issued reports on ESI. Mizuho reissued a “neutral” rating and issued a $45.00 price target (down from $54.00) on shares of Element Solutions in a research note on Tuesday, July 14th. William Blair set a $48.00 price objective on shares of Element Solutions in a research report on Friday, August 28th. Weiss Ratings raised shares of Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Wolfe Research set a $47.00 target price on shares of Element Solutions in a research report on Wednesday, July 29th. Finally, Truist Financial upped their target price 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. Four investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Element Solutions presently has a consensus rating of “Buy” and a consensus price target of $46.00.

Element Solutions Stock Performance

NYSE:ESI opened at $34.92 on Tuesday. The stock has a market cap of $8.51 billion, a P/E ratio of 47.19, a PEG ratio of 1.28 and a beta of 1.26. The company has a quick ratio of 2.11, a current ratio of 2.91 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $38.44 and its two-hundred day moving average price is $38.44. Element Solutions has a twelve month low of $22.86 and a twelve month high of $49.25.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. The company had revenue of $977.90 million during the quarter, compared to analyst estimates of $873.19 million. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.Element Solutions’s revenue was up 56.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. As a group, equities analysts predict that Element Solutions will post 1.81 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. Element Solutions’s dividend payout ratio (DPR) is currently 43.24%.

Hedge Funds Weigh In On Element Solutions

Large investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC boosted its position in Element Solutions by 4.8% during the second quarter. HB Wealth Management LLC now owns 6,295 shares of the company’s stock valued at $301,000 after buying an additional 291 shares during the period. Parallel Advisors LLC grew its stake in shares of Element Solutions by 16.4% during the fourth quarter. Parallel Advisors LLC now owns 2,455 shares of the company’s stock valued at $61,000 after buying an additional 345 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Element Solutions by 57.4% in the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after buying an additional 346 shares during the period. MML Investors Services LLC increased its holdings in shares of Element Solutions by 0.3% in the fourth quarter. MML Investors Services LLC now owns 125,877 shares of the company’s stock worth $3,146,000 after buying an additional 355 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Element Solutions by 3.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,450 shares of the company’s stock valued at $357,000 after acquiring an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

About Element Solutions

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.