Element Solutions Inc (NYSE:ESI – Get Free Report) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,120,000 shares, a growth of 8.7% from the August 31st total of 1,950,000 shares. Based on an average trading volume of 1,280,000 shares, the short-interest ratio is currently 1.7 days. Currently, 1.0% of the company’s shares are sold short.
Institutional Investors Weigh In On Element Solutions
Hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in Element Solutions in the fourth quarter valued at approximately $27,000. Quarry LP bought a new stake in Element Solutions in the second quarter valued at approximately $31,000. Assetmark Inc. raised its stake in Element Solutions by 1,585.0% in the fourth quarter. Assetmark Inc. now owns 2,022 shares of the company’s stock valued at $47,000 after buying an additional 1,902 shares during the period. LRI Investments LLC bought a new stake in Element Solutions in the first quarter valued at approximately $78,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Element Solutions by 39.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock worth $82,000 after purchasing an additional 864 shares during the period. 92.32% of the stock is currently owned by institutional investors and hedge funds.
Element Solutions Stock Down 1.4 %
Shares of NYSE ESI traded down $0.39 during midday trading on Tuesday, reaching $26.77. The company’s stock had a trading volume of 1,740,967 shares, compared to its average volume of 1,350,975. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.80. Element Solutions has a fifty-two week low of $17.57 and a fifty-two week high of $28.68. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 49.85, a PEG ratio of 1.39 and a beta of 1.29. The stock has a 50 day simple moving average of $25.85 and a 200-day simple moving average of $25.38.
Element Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.08 dividend. 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 1.20%. Element Solutions’s payout ratio is 59.26%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Mizuho increased their price target on shares of Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. StockNews.com upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. UBS Group increased their price target on shares of Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group increased their price target on shares of Element Solutions from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Finally, BMO Capital Markets restated an “outperform” rating and set a $30.00 target price (up from $28.00) on shares of Element Solutions in a report on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.40.
Read Our Latest Research Report on ESI
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.
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