Fintel reports that on July 28, 2023, Mizuho maintained coverage of Element Solutions (NYSE:ESI) with a Buy recommendation.
Analyst Price Forecast Suggests 11.46% Upside
As of July 6, 2023, the average one-year price target for Element Solutions is 22.95. The forecasts range from a low of 17.17 to a high of $26.25. The average price target represents an increase of 11.46% from its latest reported closing price of 20.59.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Element Solutions is 2,594MM, an increase of 10.25%. The projected annual non-GAAP EPS is 1.44.
Element Solutions Declares $0.08 Dividend
On May 22, 2023 the company declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Shareholders of record as of June 1, 2023 received the payment on June 15, 2023. Previously, the company paid $0.08 per share.
At the current share price of $20.59 / share, the stock's dividend yield is 1.55%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.16%, the lowest has been 0.88%, and the highest has been 4.92%. The standard deviation of yields is 0.86 (n=235).
The current dividend yield is 0.71 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.70. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.20%.
What is the Fund Sentiment?
There are 692 funds or institutions reporting positions in Element Solutions. This is an increase of 7 owner(s) or 1.02% in the last quarter. Average portfolio weight of all funds dedicated to ESI is 0.37%, a decrease of 5.68%. Total shares owned by institutions decreased in the last three months by 1.57% to 272,623K shares. 
The put/call ratio of ESI is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 17,234K shares representing 7.14% ownership of the company. In it's prior filing, the firm reported owning 17,139K shares, representing an increase of 0.55%. The firm decreased its portfolio allocation in ESI by 0.26% over the last quarter.
Wellington Management Group Llp holds 15,592K shares representing 6.46% ownership of the company. In it's prior filing, the firm reported owning 16,643K shares, representing a decrease of 6.74%. The firm decreased its portfolio allocation in ESI by 86.13% over the last quarter.
Gates Capital Management holds 7,894K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 9,454K shares, representing a decrease of 19.76%. The firm decreased its portfolio allocation in ESI by 25.05% over the last quarter.
Massachusetts Financial Services holds 6,787K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 7,079K shares, representing a decrease of 4.29%. The firm decreased its portfolio allocation in ESI by 0.20% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,735K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 6,628K shares, representing an increase of 1.59%. The firm decreased its portfolio allocation in ESI by 0.40% over the last quarter.
Element Solutions Background Information
(This description is provided by the company.)
Element Solutions Inc is a leading specialty chemicals company whose businesses supply a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, these innovative solutions enable customers' manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communications and data storage infrastructure, automotive systems, industrial surface finishing, consumer packaging and offshore energy.
Additional reading:
- Element Solutions Inc Announces 2023 Second Quarter Financial Results
- AMENDMENT NO. 7 AND JOINDER TO CREDIT AGREEMENT
- Amended and Restated By-laws
- Element Solutions Inc Announces 2023 First Quarter Financial Results
- List of Subsidiaries
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
