Element Solutions Inc (NYSE:ESI – Get Free Report) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,440,000 shares, an increase of 7.0% from the October 15th total of 4,150,000 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is presently 3.5 days.
Element Solutions Stock Up 0.4 %
NYSE ESI traded up $0.09 on Friday, hitting $20.45. 749,750 shares of the stock were exchanged, compared to its average volume of 1,218,256. The company has a quick ratio of 2.59, a current ratio of 3.45 and a debt-to-equity ratio of 0.90. Element Solutions has a fifty-two week low of $17.08 and a fifty-two week high of $21.90. The company has a market cap of $4.94 billion, a PE ratio of 92.95, a PEG ratio of 3.50 and a beta of 1.28. The company has a 50-day moving average price of $19.13 and a 200-day moving average price of $19.23.
Element Solutions (NYSE:ESI – Get Free Report) last issued its earnings results on Wednesday, October 25th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Element Solutions had a net margin of 2.30% and a return on equity of 13.15%. The business had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $624.50 million. Sell-side analysts anticipate that Element Solutions will post 1.29 EPS for the current fiscal year.
Element Solutions Dividend Announcement
Analyst Upgrades and Downgrades
ESI has been the subject of several research analyst reports. StockNews.com began coverage on shares of Element Solutions in a research note on Thursday, October 5th. They set a “hold” rating for the company. TheStreet cut shares of Element Solutions from a “b” rating to a “c” rating in a report on Wednesday, October 25th. Finally, Mizuho boosted their price target on shares of Element Solutions from $21.00 to $22.00 in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.40.
Insiders Place Their Bets
In other Element Solutions news, Director Nichelle Maynard-Elliott sold 4,174 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $19.61, for a total transaction of $81,852.14. Following the completion of the transaction, the director now owns 24,789 shares of the company’s stock, valued at $486,112.29. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Element Solutions
A number of large investors have recently bought and sold shares of the company. Comerica Bank acquired a new position in shares of Element Solutions during the 2nd quarter worth $290,100,000. Clearbridge Investments LLC acquired a new position in shares of Element Solutions during the 1st quarter worth $28,075,000. Invesco Ltd. grew its stake in shares of Element Solutions by 47.2% during the 3rd quarter. Invesco Ltd. now owns 4,403,980 shares of the company’s stock worth $86,362,000 after purchasing an additional 1,412,706 shares during the period. Norges Bank acquired a new position in shares of Element Solutions during the 4th quarter worth $23,205,000. Finally, Vanguard Group Inc. grew its stake in shares of Element Solutions by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 20,627,823 shares of the company’s stock worth $451,749,000 after purchasing an additional 984,222 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.
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.
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