Element Solutions Inc (NYSE:ESI – Get Rating) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 2,370,000 shares, an increase of 19.1% from the August 15th total of 1,990,000 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily volume of 1,230,000 shares, the short-interest ratio is presently 1.9 days.
Institutional Investors Weigh In On Element Solutions
Several institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors boosted its position in shares of Element Solutions by 49.5% during the 2nd quarter. Captrust Financial Advisors now owns 4,997 shares of the company's stock valued at $89,000 after purchasing an additional 1,654 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in Element Solutions in the second quarter worth approximately $468,000. Walleye Capital LLC bought a new position in Element Solutions in the second quarter worth approximately $1,555,000. Advisory Research Inc. boosted its holdings in Element Solutions by 3.8% in the second quarter. Advisory Research Inc. now owns 412,717 shares of the company's stock worth $7,346,000 after acquiring an additional 15,160 shares in the last quarter. Finally, Bares Capital Management Inc. boosted its holdings in Element Solutions by 0.9% in the second quarter. Bares Capital Management Inc. now owns 1,151,744 shares of the company's stock worth $20,501,000 after acquiring an additional 10,138 shares in the last quarter. Institutional investors own 90.05% of the company's stock.
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Element Solutions Trading Up 3.4 %
Shares of NYSE ESI traded up $0.61 during trading on Monday, reaching $18.56. The company had a trading volume of 879,235 shares, compared to its average volume of 1,253,350. The company's fifty day moving average price is $19.12 and its 200-day moving average price is $19.94. Element Solutions has a 12 month low of $16.25 and a 12 month high of $26.92. The stock has a market cap of $4.55 billion, a P/E ratio of 28.55, a PEG ratio of 0.87 and a beta of 1.37. The company has a quick ratio of 2.28, a current ratio of 3.13 and a debt-to-equity ratio of 0.78.
Element Solutions (NYSE:ESI – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Element Solutions had a return on equity of 13.99% and a net
margin of 6.15%. The company had revenue of $677.00 million for the quarter, compared to analyst estimates of $681.97 million. During the same quarter in the prior year, the company earned $0.35 EPS. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts expect that Element Solutions will post 1.53 earnings per share for the current year.
Element Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.72%. Element Solutions's payout ratio is 49.23%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ESI shares. StockNews.com raised Element Solutions from a "hold" rating to a "buy" rating in a report on Friday, July 29th. Barclays upgraded Element Solutions from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $24.00 to $22.00 in a research report on Monday, July 11th. Finally, Mizuho reduced their price target on Element Solutions from $29.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, July 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.25.
Element Solutions Company Profile
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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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