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Element Solutions Inc (NYSE:ESI) Short Interest Down 7.9% in August

Defense World · Sep 1, 2022 05:21

Element Solutions Inc (NYSE:ESI – Get Rating) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 1,990,000 shares, a drop of 7.9% from the July 31st total of 2,160,000 shares. Currently, 0.9% of the company's shares are sold short. Based on an average daily trading volume, of 1,240,000 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

ESI has been the topic of a number of recent analyst reports. StockNews.com upgraded Element Solutions from a "hold" rating to a "buy" rating in a research report on Friday, July 29th. Mizuho lowered their target price on Element Solutions from $29.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, July 7th. Finally, Barclays upgraded Element Solutions from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $24.00 to $22.00 in a research note on Monday, July 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.25.

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Element Solutions Stock Down 0.8 %

Shares of NYSE:ESI opened at $18.67 on Thursday. The stock has a fifty day simple moving average of $18.89 and a two-hundred day simple moving average of $20.45. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 0.93 and a beta of 1.39. Element Solutions has a 12-month low of $16.25 and a 12-month high of $26.92. The company has a current ratio of 3.13, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78.

Element Solutions (NYSE:ESI – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.01. The business had revenue of $677.00 million during the quarter, compared to analysts' expectations of $681.97 million. Element Solutions had a return on equity of 13.99% and a net margin of 6.15%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, research analysts anticipate that Element Solutions will post 1.53 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, August 31st. Element Solutions's payout ratio is 49.23%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. UMB Bank N A MO purchased a new position in shares of Element Solutions in the fourth quarter worth $25,000. Fieldpoint Private Securities LLC purchased a new position in shares of Element Solutions in the second quarter worth $31,000. Prospera Financial Services Inc purchased a new position in shares of Element Solutions in the first quarter worth $34,000. Covestor Ltd purchased a new position in shares of Element Solutions in the fourth quarter worth $52,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Element Solutions by 1,473.2% in the second quarter. First Horizon Advisors Inc. now owns 4,043 shares of the company's stock worth $71,000 after purchasing an additional 3,786 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

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.