Element Solutions (NYSE:ESI) Stock Price Up 4.3% After Strong Earnings

Element Solutions Inc (NYSE:ESI - Get Free Report) shares were up 4.3% on Tuesday following a stronger than expected earnings report. The stock traded as high as $27.83 and last traded at $27.82. Approximately 506,070 shares traded hands during trading, a decline of 63% from the average daily volume of 1,375,717 shares. The stock had previously closed at $26.67.

The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The company had revenue of $645.00 million during the quarter, compared to analysts' expectations of $626.52 million. Element Solutions had a return on equity of 14.42% and a net margin of 8.24%. Element Solutions's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS.

Element Solutions Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ESI. Wolfe Research raised Element Solutions from a "peer perform" rating to an "outperform" rating in a research report on Friday. StockNews.com downgraded Element Solutions from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Finally, Seaport Res Ptn upgraded Element Solutions to a "strong-buy" rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Institutional Investors Weigh In On Element Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Element Solutions by 243.1% in the first quarter. Principal Financial Group Inc. now owns 101,819 shares of the company's stock valued at $2,543,000 after buying an additional 72,145 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Element Solutions during the 1st quarter worth approximately $863,000. BNP Paribas Financial Markets grew its stake in shares of Element Solutions by 79.2% in the 1st quarter. BNP Paribas Financial Markets now owns 15,625 shares of the company's stock valued at $390,000 after purchasing an additional 6,908 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Element Solutions in the first quarter valued at approximately $341,000. Finally, QRG Capital Management Inc. raised its stake in shares of Element Solutions by 11.1% during the first quarter. QRG Capital Management Inc. now owns 10,591 shares of the company's stock worth $265,000 after purchasing an additional 1,060 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Trading Up 3.8 %

The company has a fifty day moving average of $25.93 and a two-hundred day moving average of $25.54. 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 $6.70 billion, a price-to-earnings ratio of 52.02, a P/E/G ratio of 1.53 and a beta of 1.29.

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.