Element Solutions (NYSE:ESI) Shares Gap Up - Here's What Happened

Shares of Element Solutions Inc (NYSE:ESI - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $24.85, but opened at $25.75. Element Solutions shares last traded at $24.94, with a volume of 1,047,914 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on ESI. Truist Financial started coverage on Element Solutions in a research note on Tuesday, January 28th. They set a "hold" rating and a $28.00 price objective for the company. Bank of America reaffirmed a "neutral" rating and set a $28.00 price objective (down from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Barclays cut their target price on Element Solutions from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. StockNews.com downgraded shares of Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets increased their target price on shares of Element Solutions from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.14.

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Element Solutions Price Performance

The company's 50-day moving average price is $25.70 and its two-hundred day moving average price is $26.36. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. The company has a market capitalization of $6.10 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29.

Element Solutions (NYSE:ESI - Get Free Report) last released 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 net margin of 9.94% and a return on equity of 14.68%. The firm had revenue of $624.20 million for the quarter, compared to analysts' expectations of $598.24 million. As a group, sell-side analysts expect that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, March 3rd. Element Solutions's dividend payout ratio is 31.37%.

Institutional Investors Weigh In On Element Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of ESI. True Wealth Design LLC acquired a new position in shares of Element Solutions in the third quarter valued at about $25,000. TD Private Client Wealth LLC acquired a new position in shares of Element Solutions during the 4th quarter worth approximately $27,000. Park Square Financial Group LLC acquired a new position in shares of Element Solutions during the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. increased its holdings in shares of Element Solutions by 610.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock worth $29,000 after purchasing an additional 971 shares during the period. Finally, Trust Co. of Vermont acquired a new stake in shares of Element Solutions in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 92.32% of the company's stock.

About Element Solutions

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.