Element Solutions Inc (NYSE:ESI) Plans $0.08 Quarterly Dividend

Element Solutions Inc (NYSE:ESI) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.08 per share on Monday, March 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.23%.

Element Solutions has increased its dividend by an average of 8.6% annually over the last three years. Element Solutions has a payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Element Solutions to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 21.9%.

Element Solutions Trading Up 0.8 %

NYSE ESI traded up $0.20 on Wednesday, hitting $26.01. 1,737,701 shares of the company were exchanged, compared to its average volume of 1,350,971. Element Solutions has a twelve month low of $21.42 and a twelve month high of $29.78. The company’s 50 day moving average price is $25.99 and its 200-day moving average price is $26.32. The firm has a market capitalization of $6.30 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 2.17 and a beta of 1.30. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.52 and a quick ratio of 2.77.

Wall Street Analysts Forecast Growth

ESI has been the topic of several research analyst reports. Bank of America reiterated a “neutral” rating and set a $28.00 price objective (down from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. BMO Capital Markets upped their price target on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Barclays dropped their target price on Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Truist Financial initiated coverage on shares of Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Element Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $30.14.

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.