Element Solutions (NYSE:ESI) Price Target Raised to $29.00 at UBS Group

Element Solutions (NYSE:ESI - Free Report) had its price target upped by UBS Group from $25.00 to $29.00 in a report issued on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Mizuho lifted their target price on Element Solutions from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. KeyCorp cut their target price on Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Barclays cut their target price on Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and lowered their price target for the stock from $28.00 to $24.00 in a report on Monday, April 14th. Finally, BMO Capital Markets lowered their price target on Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.25.

Element Solutions Stock Down 1.6%

Element Solutions stock traded down $0.40 during midday trading on Wednesday, reaching $24.70. The company's stock had a trading volume of 2,254,052 shares, compared to its average volume of 2,035,484. Element Solutions has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 0.64. The company has a market cap of $5.99 billion, a P/E ratio of 20.76, a P/E/G ratio of 2.03 and a beta of 1.23. The business has a 50-day simple moving average of $22.23 and a 200-day simple moving average of $23.32.

Element Solutions (NYSE:ESI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Element Solutions had a return on equity of 14.42% and a net margin of 11.56%. The business had revenue of $593.70 million for the quarter, compared to analysts' expectations of $576.73 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business's revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, June 2nd. Element Solutions's payout ratio is 26.89%.

Hedge Funds Weigh In On Element Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESI. Charles Schwab Investment Management Inc. increased its position in Element Solutions by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company's stock worth $59,224,000 after purchasing an additional 29,253 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Element Solutions during the 4th quarter worth approximately $423,000. Arizona State Retirement System boosted its stake 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 worth $1,698,000 after acquiring an additional 545 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Element Solutions during the 4th quarter worth approximately $13,573,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Element Solutions in the 4th quarter valued at approximately $93,000. 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.