Element Solutions Inc to Issue Quarterly Dividend of $0.08 (NYSE:ESI)

Element Solutions Inc (NYSE:ESI) declared a quarterly dividend on Wednesday, May 21st, RTT News reports. Investors of record on Monday, June 2nd will be given a dividend of 0.08 per share on Monday, June 16th. This represents a $0.32 annualized dividend and a yield of 1.50%.

Element Solutions has increased its dividend payment by an average of 8.6% annually over the last three years. Element Solutions has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Element Solutions to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 19.4%.

Element Solutions Price Performance

Shares of ESI opened at $21.38 on Thursday. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average is $21.27 and its two-hundred day moving average is $24.69. Element Solutions has a twelve month low of $16.77 and a twelve month high of $29.78. The firm has a market capitalization of $5.19 billion, a PE ratio of 20.96, a P/E/G ratio of 2.30 and a beta of 1.24.

Element Solutions (NYSE:ESI) last issued its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. Research analysts anticipate that Element Solutions will post 1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ESI shares. The Goldman Sachs Group decreased their price target on Element Solutions from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Bank of America upgraded Element Solutions from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $29.00 to $24.00 in a research report on Tuesday, April 15th. BMO Capital Markets dropped their price target on Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Barclays cut their price target on Element Solutions from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, Truist Financial raised shares of Element Solutions from a “hold” rating to a “buy” rating and lowered their price objective for the company from $28.00 to $24.00 in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.38.

Insider Transactions at Element Solutions

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESI. Goldman Sachs Group Inc. boosted its position in Element Solutions by 60.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,894,061 shares of the company’s stock worth $42,825,000 after acquiring an additional 712,466 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Element Solutions by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 872,451 shares of the company’s stock valued at $19,726,000 after acquiring an additional 37,204 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Element Solutions by 339.3% during the 1st quarter. Millennium Management LLC now owns 446,622 shares of the company’s stock worth $10,098,000 after purchasing an additional 344,950 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of Element Solutions during the 1st quarter worth $400,000. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

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.