Element Solutions Inc (NYSE:ESI) Short Interest Up 72.2% in March

Element Solutions Inc (NYSE:ESI) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,720,000 shares, a growth of 72.2% from the February 28th total of 1,580,000 shares. Based on an average trading volume of 2,510,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ESI shares. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Truist Financial began coverage on shares of Element Solutions in a research report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price objective for the company. BMO Capital Markets raised their target price on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Barclays lowered their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, Bank of America restated a “neutral” rating and set a $28.00 price objective (down previously from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.14.

Insider Activity at Element Solutions

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total value of $52,200,000.00. Following the sale, the director now owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. This trade represents a 94.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Element Solutions

A number of hedge funds have recently added to or reduced their stakes in ESI. Charles Schwab Investment Management Inc. grew its position in shares of Element Solutions by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,299,641 shares of the company’s stock worth $62,458,000 after buying an additional 38,859 shares during the period. Cerity Partners LLC increased its stake in Element Solutions by 40.4% in the third quarter. Cerity Partners LLC now owns 172,000 shares of the company’s stock valued at $4,672,000 after purchasing an additional 49,466 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Element Solutions by 2.2% during the third quarter. The Manufacturers Life Insurance Company now owns 52,020 shares of the company’s stock valued at $1,413,000 after purchasing an additional 1,137 shares during the period. Captrust Financial Advisors boosted its position in shares of Element Solutions by 81.3% during the 3rd quarter. Captrust Financial Advisors now owns 24,540 shares of the company’s stock worth $667,000 after purchasing an additional 11,004 shares in the last quarter. Finally, Appian Way Asset Management LP acquired a new stake in shares of Element Solutions in the 3rd quarter valued at about $14,553,000. 92.32% of the stock is currently owned by institutional investors.

Element Solutions Stock Performance

Shares of ESI stock opened at $22.96 on Monday. The stock has a market capitalization of $5.57 billion, a PE ratio of 22.51, a PEG ratio of 2.30 and a beta of 1.29. The business’s 50 day simple moving average is $25.67 and its 200 day simple moving average is $26.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. Element Solutions has a one year low of $22.71 and a one year high of $29.78.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. As a group, research analysts forecast that Element Solutions will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.39%. Element Solutions’s payout ratio is 31.37%.

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.