Element Solutions (NYSE:ESI) Upgraded at Truist Financial

Element Solutions (NYSE:ESI) was upgraded by equities research analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat reports. The brokerage currently has a $24.00 price objective on the stock, down from their previous price objective of $28.00. Truist Financial’s price target indicates a potential upside of 28.17% from the company’s previous close.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Barclays dropped their target price on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. BMO Capital Markets upped their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and issued a $28.00 target price (down previously from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. Finally, KeyCorp began coverage on shares of Element Solutions in a research note on Thursday, April 3rd. They set an “overweight” rating and a $29.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Element Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Element Solutions Stock Performance

NYSE:ESI opened at $18.73 on Monday. The business’s fifty day moving average is $23.91 and its 200 day moving average is $25.68. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. Element Solutions has a 52-week low of $16.77 and a 52-week high of $29.78.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $598.24 million. Research analysts predict that Element Solutions will post 1.45 EPS for the current year.

Insider Activity at Element Solutions

In other news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the transaction, the director now directly owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. This represents a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.90% of the stock is currently owned by company insiders.

Institutional Trading of Element Solutions

Several large investors have recently modified their holdings of ESI. Vanguard Group Inc. lifted its holdings in Element Solutions by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company’s stock worth $565,685,000 after buying an additional 249,280 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Element Solutions by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 5,209,130 shares of the company’s stock valued at $132,468,000 after buying an additional 209,441 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in shares of Element Solutions by 3.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,026,543 shares of the company’s stock valued at $127,825,000 after acquiring an additional 146,570 shares in the last quarter. State Street Corp lifted its stake in Element Solutions by 5.6% in the third quarter. State Street Corp now owns 4,319,570 shares of the company’s stock worth $117,320,000 after acquiring an additional 230,793 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Element Solutions by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,555,852 shares of the company’s stock valued at $90,456,000 after acquiring an additional 14,339 shares in the last quarter. 92.32% of the stock is owned by institutional investors.

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.