KeyCorp Begins Coverage on Element Solutions (NYSE:ESI)

Research analysts at KeyCorp began coverage on shares of Element Solutions (NYSE:ESI) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $29.00 price target on the stock. KeyCorp’s price target would indicate a potential upside of 58.99% from the stock’s previous close.

Several other brokerages have also recently issued reports on ESI. Truist Financial assumed coverage on Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price objective on the stock. Barclays reduced their price objective on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Bank of America reissued a “neutral” rating and set a $28.00 price target (down from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets upped their target price on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Element Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Element Solutions Trading Down 9.4 %

Shares of Element Solutions stock opened at $18.24 on Thursday. Element Solutions has a 1-year low of $17.72 and a 1-year high of $29.78. The company’s fifty day simple moving average is $25.18 and its 200-day simple moving average is $26.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. The stock has a market capitalization of $4.42 billion, a PE ratio of 17.88, a P/E/G ratio of 2.30 and a beta of 1.28.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $598.24 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. As a group, equities analysts anticipate that Element Solutions will post 1.45 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the sale, the director now directly owns 109,100 shares in the company, valued at approximately $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of Element Solutions by 9,246.9% during the 1st quarter. Versant Capital Management Inc now owns 19,535 shares of the company’s stock worth $442,000 after buying an additional 19,326 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Element Solutions during the first quarter worth $317,000. 111 Capital acquired a new position in Element Solutions during the 4th quarter worth about $300,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Element Solutions by 26.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,149 shares of the company’s stock valued at $716,000 after acquiring an additional 5,966 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in shares of Element Solutions in the fourth quarter valued at approximately $28,000. 92.32% of the stock is owned by hedge funds and other institutional investors.

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.