Stock Traders Purchase Large Volume of Put Options on Element Solutions (NYSE:ESI)

Element Solutions Inc (NYSE:ESI) saw some unusual options trading activity on Monday. Traders purchased 15,011 put options on the company. This represents an increase of 2,855% compared to the typical volume of 508 put options.

Element Solutions Stock Up 2.0 %

NYSE:ESI traded up $0.50 during mid-day trading on Monday, hitting $25.35. The company had a trading volume of 1,950,300 shares, compared to its average volume of 1,356,506. The business has a fifty day simple moving average of $25.71 and a 200-day simple moving average of $26.37. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.30 and a beta of 1.29. Element Solutions has a 1 year low of $23.10 and a 1 year high of $29.78. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $598.24 million. Equities analysts forecast that Element Solutions will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, March 3rd. Element Solutions’s dividend payout ratio (DPR) is currently 31.37%.

Analysts Set New Price Targets

ESI has been the topic of a number of research reports. Bank of America restated a “neutral” rating and issued a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Barclays reduced their target price on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. BMO Capital Markets lifted their price objective on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Truist Financial initiated coverage on shares of Element Solutions in a research note on Tuesday, January 28th. They set a “hold” rating and a $28.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.14.

Institutional Trading of Element Solutions

Several institutional investors have recently added to or reduced their stakes in ESI. Integrated Wealth Concepts LLC grew its holdings in Element Solutions by 1.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company’s stock worth $610,000 after acquiring an additional 423 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Element Solutions by 4.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company’s stock worth $287,000 after purchasing an additional 430 shares in the last quarter. Arizona State Retirement System increased its holdings in Element Solutions by 0.8% in the fourth quarter. Arizona State Retirement System now owns 66,761 shares of the company’s stock valued at $1,698,000 after buying an additional 545 shares during the last quarter. Equitable Trust Co. increased its holdings in Element Solutions by 1.7% in the fourth quarter. Equitable Trust Co. now owns 34,103 shares of the company’s stock valued at $867,000 after buying an additional 576 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Element Solutions by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company’s stock valued at $2,502,000 after buying an additional 610 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

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.