Element Solutions (NYSE:ESI) Stock Price Up 4.3% Following Earnings Beat

Element Solutions Inc (NYSE:ESI) shares traded up 4.3% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $27.83 and last traded at $27.82. 506,070 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 1,375,717 shares. The stock had previously closed at $26.67.

The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $645.00 million during the quarter, compared to the consensus estimate of $626.52 million. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share.

Element Solutions Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.16%. Element Solutions’s dividend payout ratio is presently 59.26%.

Analysts Set New Price Targets

ESI has been the subject of a number of research reports. Wolfe Research raised Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday, October 25th. Seaport Res Ptn upgraded Element Solutions to a “strong-buy” rating in a report on Monday, October 14th. Finally, StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Hedge Funds Weigh In On Element Solutions

A number of institutional investors have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings 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 purchasing an additional 676,432 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Element Solutions by 6.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 5,106,554 shares of the company’s stock worth $138,490,000 after acquiring an additional 315,645 shares in the last quarter. Marshall Wace LLP boosted its position in Element Solutions by 149.2% during the 2nd quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock worth $106,698,000 after acquiring an additional 2,355,554 shares during the period. Clearbridge Investments LLC grew its stake in Element Solutions by 16.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,061,060 shares of the company’s stock valued at $51,485,000 after acquiring an additional 298,668 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Element Solutions in the 1st quarter valued at about $44,527,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Up 3.8 %

The company has a quick ratio of 2.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $6.70 billion, a PE ratio of 51.28, a price-to-earnings-growth ratio of 1.53 and a beta of 1.29. The business’s 50-day moving average price is $25.93 and its 200-day moving average price is $25.54.

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.