The Goldman Sachs Group Has Lowered Expectations for Element Solutions (NYSE:ESI) Stock Price

Element Solutions (NYSE:ESI) had its price objective reduced by The Goldman Sachs Group from $30.00 to $24.00 in a research report report published on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on ESI. Truist Financial raised Element Solutions from a “hold” rating to a “buy” rating and decreased their price target for the company from $28.00 to $24.00 in a report on Monday, April 14th. Bank of America upgraded shares of Element Solutions from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $29.00 to $24.00 in a research report on Tuesday, April 15th. KeyCorp reduced their target price on shares of Element Solutions from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Barclays reduced their price target on shares of Element Solutions from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, UBS Group cut their target price on shares of Element Solutions from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.38.

Element Solutions Stock Performance

Shares of Element Solutions stock opened at $20.07 on Monday. The stock’s fifty day moving average price is $22.69 and its 200-day moving average price is $25.24. Element Solutions has a 12 month low of $16.77 and a 12 month high of $29.78. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.87 billion, a P/E ratio of 19.68, 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 Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $593.70 million during the quarter, compared to the consensus estimate of $576.73 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. On average, equities research analysts expect that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.59%. The ex-dividend date was Monday, March 3rd. Element Solutions’s dividend payout ratio (DPR) is presently 26.89%.

Insider Activity at Element Solutions

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

Institutional Investors Weigh In On Element Solutions

Several institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in shares of Element Solutions by 96.0% during the 3rd quarter. Barclays PLC now owns 108,174 shares of the company’s stock worth $2,938,000 after purchasing an additional 52,973 shares during the last quarter. World Investment Advisors LLC acquired a new position in Element Solutions during the 3rd quarter worth approximately $3,676,000. Tidal Investments LLC raised its position in shares of Element Solutions by 10.7% in the 3rd quarter. Tidal Investments LLC now owns 51,324 shares of the company’s stock valued at $1,394,000 after purchasing an additional 4,971 shares in the last quarter. Synovus Financial Corp raised its position in shares of Element Solutions by 7.7% in the 3rd quarter. Synovus Financial Corp now owns 45,286 shares of the company’s stock valued at $1,230,000 after purchasing an additional 3,224 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Element Solutions by 549.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock valued at $43,983,000 after acquiring an additional 1,369,981 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

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.