Element Solutions (NYSE:ESI) Sets New 12-Month Low at $8.93

Element Solutions Inc (NYSE:ESI) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.93 and last traded at $8.94, with a volume of 45401 shares trading hands. The stock had previously closed at $9.15.

ESI has been the subject of several research analyst reports. Barclays reiterated a “hold” rating and issued a $11.00 price objective on shares of Element Solutions in a research report on Wednesday, August 7th. Royal Bank of Canada initiated coverage on Element Solutions in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $8.00 price objective for the company.

The company has a 50-day simple moving average of $9.76 and a 200-day simple moving average of $10.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.14 and a current ratio of 2.74. The stock has a market cap of $2.35 billion, a P/E ratio of 64.00 and a beta of 2.14.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $456.70 million during the quarter, compared to the consensus estimate of $468.94 million. Element Solutions had a positive return on equity of 5.76% and a negative net margin of 18.53%. The company’s revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Element Solutions Inc will post 0.85 earnings per share for the current fiscal year.

In other news, COO Scot Benson bought 10,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $9.37 per share, with a total value of $93,700.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rakesh Sachdev sold 28,764 shares of Element Solutions stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $10.71, for a total value of $308,062.44. The disclosure for this sale can be found here. 13.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kings Point Capital Management acquired a new stake in shares of Element Solutions in the 2nd quarter valued at $46,000. Pinebridge Investments L.P. acquired a new stake in shares of Element Solutions in the 2nd quarter valued at $79,000. Symons Capital Management Inc. acquired a new stake in shares of Element Solutions in the 2nd quarter valued at $122,000. HighTower Advisors LLC acquired a new stake in shares of Element Solutions in the 2nd quarter valued at $135,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Element Solutions in the 2nd quarter valued at $154,000. 89.32% of the stock is owned by institutional investors.

About Element Solutions (NYSE:ESI)

Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.

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