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Investors Buy High Volume of Put Options on Element Solutions (NYSE:ESI)

Financial News Live · Sep 23, 2022 10:51

Element Solutions Inc (NYSE:ESI – Get Rating) saw unusually large options trading activity on Friday. Investors acquired 2,001 put options on the company. This is an increase of 374% compared to the average volume of 422 put options.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Element Solutions from a "hold" rating to a "buy" rating in a research report on Friday, July 29th. Mizuho reduced their target price on shares of Element Solutions from $29.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, July 7th. Finally, Barclays raised shares of Element Solutions from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $24.00 to $22.00 in a report on Monday, July 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.25.

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Hedge Funds Weigh In On Element Solutions

Several large investors have recently modified their holdings of ESI. Fieldpoint Private Securities LLC bought a new stake in shares of Element Solutions in the 2nd quarter worth approximately $31,000. Prospera Financial Services Inc purchased a new position in Element Solutions during the 1st quarter valued at $34,000. Covestor Ltd increased its position in Element Solutions by 32.1% during the 1st quarter. Covestor Ltd now owns 2,845 shares of the company's stock valued at $62,000 after purchasing an additional 692 shares during the period. First Horizon Advisors Inc. increased its position in Element Solutions by 1,473.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,043 shares of the company's stock valued at $71,000 after purchasing an additional 3,786 shares during the period. Finally, Captrust Financial Advisors increased its position in 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 during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Element Solutions Trading Down 4.2 %

Shares of ESI traded down $0.72 during trading hours on Friday, hitting $16.57. 17,202 shares of the stock were exchanged, compared to its average volume of 1,005,694. The firm has a market capitalization of $4.07 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. Element Solutions has a fifty-two week low of $16.25 and a fifty-two week high of $26.92. The business has a 50-day moving average of $19.12 and a 200-day moving average of $19.90. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.13 and a quick ratio of 2.28.

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

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.93%. Element Solutions's dividend payout ratio (DPR) is presently 49.23%.

About Element Solutions

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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.