Fintel reports that on March 1, 2024, Wolfe Research initiated coverage of Element Solutions (NYSE:ESI) with a Peer Perform recommendation.
Analyst Price Forecast Suggests 14.15% Upside
As of February 24, 2024, the average one-year price target for Element Solutions is 26.97. The forecasts range from a low of 22.22 to a high of $31.50. The average price target represents an increase of 14.15% from its latest reported closing price of 23.63.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Element Solutions is 2,664MM, an increase of 14.18%. The projected annual non-GAAP EPS is 1.63.
Element Solutions Declares $0.08 Dividend
On February 13, 2024 the company declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Shareholders of record as of March 1, 2024 will receive the payment on March 15, 2024. Previously, the company paid $0.08 per share.
At the current share price of $23.63 / share, the stock's dividend yield is 1.35%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.04%, the lowest has been 0.88%, and the highest has been 4.92%. The standard deviation of yields is 0.84 (n=233).
The current dividend yield is 0.82 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.66. 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 0.60%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 681 funds or institutions reporting positions in Element Solutions. This is an increase of 28 owner(s) or 4.29% in the last quarter. Average portfolio weight of all funds dedicated to ESI is 0.33%, an increase of 2.80%. Total shares owned by institutions decreased in the last three months by 0.71% to 278,220K shares. 
The put/call ratio of ESI is 1.48, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 18,055K shares representing 7.46% ownership of the company. In it's prior filing, the firm reported owning 17,685K shares, representing an increase of 2.05%. The firm increased its portfolio allocation in ESI by 10.81% over the last quarter.
Wellington Management Group Llp holds 9,671K shares representing 4.00% ownership of the company. In it's prior filing, the firm reported owning 11,631K shares, representing a decrease of 20.27%. The firm decreased its portfolio allocation in ESI by 86.86% over the last quarter.
Alliancebernstein holds 8,619K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 8,568K shares, representing an increase of 0.59%. The firm increased its portfolio allocation in ESI by 7.38% over the last quarter.
Neuberger Berman Group holds 7,375K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 7,223K shares, representing an increase of 2.06%. The firm decreased its portfolio allocation in ESI by 41.35% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,229K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 7,198K shares, representing an increase of 0.43%. The firm increased its portfolio allocation in ESI by 5.90% 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.
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This story originally appeared on Fintel.
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