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Element Solutions Inc (NYSE:ESI) Sees Significant Decline in Short Interest

Element Solutions logo with Basic Materials background

Element Solutions Inc (NYSE:ESI - Get Free Report) saw a significant decrease in short interest in October. As of October 15th, there was short interest totalling 1,650,000 shares, a decrease of 9.8% from the September 30th total of 1,830,000 shares. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.7% of the company's shares are short sold.

Element Solutions Stock Down 0.3 %

Shares of Element Solutions stock traded down $0.08 on Wednesday, reaching $27.61. The stock had a trading volume of 1,420,950 shares, compared to its average volume of 1,384,074. The company has a quick ratio of 2.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $6.69 billion, a P/E ratio of 51.59, a P/E/G ratio of 1.53 and a beta of 1.29. The company has a 50 day moving average price of $25.98 and a 200 day moving average price of $25.57. Element Solutions has a 1 year low of $17.76 and a 1 year high of $28.68.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $645.00 million for the quarter, compared to analyst estimates of $626.52 million. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, equities research analysts forecast that Element Solutions will post 1.43 EPS for the current year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, August 30th. Element Solutions's dividend payout ratio is currently 59.26%.

Institutional Investors Weigh In On Element Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Element Solutions during the 2nd quarter valued at approximately $1,518,000. Capital World Investors acquired a new position in shares of Element Solutions in the 1st quarter valued at $44,527,000. Cubist Systematic Strategies LLC purchased a new position in Element Solutions in the 2nd quarter worth $5,668,000. Blue Trust Inc. acquired a new stake in Element Solutions during the 2nd quarter worth about $613,000. Finally, Principal Financial Group Inc. lifted its position in Element Solutions by 243.1% during the 1st quarter. Principal Financial Group Inc. now owns 101,819 shares of the company's stock worth $2,543,000 after acquiring an additional 72,145 shares during the period. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ESI shares. StockNews.com lowered Element Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. BMO Capital Markets raised their target price on shares of Element Solutions from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Wednesday. Wolfe Research upgraded shares of Element Solutions from a "peer perform" rating to an "outperform" rating in a report on Friday, October 25th. Seaport Res Ptn upgraded shares of Element Solutions to a "strong-buy" rating in a research note on Monday, October 14th. Finally, Barclays boosted their price objective on shares of Element Solutions from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Element Solutions has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Get Our Latest Report on ESI

Element Solutions Company Profile

(Get Free Report)

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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