Traders Purchase High Volume of Call Options on Element Solutions (NYSE:ESI)

by · The Cerbat Gem

Element Solutions Inc. (NYSE:ESIGet Free Report) saw unusually large options trading on Monday. Traders bought 7,319 call options on the company. This is an increase of approximately 237% compared to the average volume of 2,172 call options.

Insider Buying and Selling

In other Element Solutions news, Director E Stanley Oneal sold 143,564 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $35.52, for a total value of $5,099,393.28. Following the transaction, the director owned 147,832 shares of the company’s stock, valued at approximately $5,250,992.64. The trade was a 49.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Element Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its holdings in Element Solutions by 13.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,119,999 shares of the company’s stock valued at $277,889,000 after purchasing an additional 1,298,273 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Element Solutions by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,485,342 shares of the company’s stock valued at $212,053,000 after purchasing an additional 228,416 shares during the last quarter. State Street Corp increased its holdings in Element Solutions by 1.2% in the fourth quarter. State Street Corp now owns 7,161,586 shares of the company’s stock valued at $178,968,000 after purchasing an additional 83,033 shares during the last quarter. Invesco Ltd. increased its holdings in Element Solutions by 43.6% in the fourth quarter. Invesco Ltd. now owns 7,069,238 shares of the company’s stock valued at $176,660,000 after purchasing an additional 2,146,512 shares during the last quarter. Finally, FIL Ltd increased its holdings in Element Solutions by 13.9% in the fourth quarter. FIL Ltd now owns 5,089,359 shares of the company’s stock valued at $127,183,000 after purchasing an additional 621,448 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Element Solutions Trading Down 5.8%

Shares of ESI traded down $2.45 during trading hours on Monday, hitting $39.89. 3,928,632 shares of the stock traded hands, compared to its average volume of 2,942,534. The company has a current ratio of 2.68, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. Element Solutions has a 1-year low of $20.80 and a 1-year high of $45.51. The firm has a market capitalization of $9.72 billion, a PE ratio of 64.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.27. The business has a fifty day moving average of $36.83 and a 200-day moving average of $31.30.

Element Solutions (NYSE:ESIGet Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $840.00 million during the quarter, compared to the consensus estimate of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The firm’s revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. Analysts expect that Element Solutions will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

ESI has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Element Solutions in a research note on Wednesday, January 21st. Bank of America upped their price target on Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, January 26th. KeyCorp upped their price target on Element Solutions from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Truist Financial upped their price target on Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 price target on shares of Element Solutions in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Element Solutions presently has a consensus rating of “Buy” and an average target price of $39.57.

Check Out Our Latest Analysis on ESI

About Element Solutions

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Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.

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