Element Solutions (ESI) Declares $0.08 Dividend
Element Solutions said on May 22, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Previously, the company paid $0.08 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $18.55 / share, the stock's dividend yield is 1.73%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.19%, the lowest has been 0.88%, and the highest has been 4.92%. The standard deviation of yields is 0.86 (n=236).
The current dividend yield is 0.54 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.44. 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 has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 685 funds or institutions reporting positions in Element Solutions. This is an increase of 15 owner(s) or 2.24% in the last quarter. Average portfolio weight of all funds dedicated to ESI is 0.38%, an increase of 24.88%. Total shares owned by institutions decreased in the last three months by 1.47% to 270,820K shares. 
The put/call ratio of ESI is 0.33, indicating a bullish outlook.
Analyst Price Forecast Suggests 20.70% Upside
As of May 11, 2023, the average one-year price target for Element Solutions is 22.39. The forecasts range from a low of 17.17 to a high of $26.25. The average price target represents an increase of 20.70% from its latest reported closing price of 18.55.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Element Solutions is 2,594MM, an increase of 6.15%. The projected annual non-GAAP EPS is 1.44.
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 84.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,628K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 7,014K shares, representing a decrease of 5.82%. The firm decreased its portfolio allocation in ESI by 2.43% 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.
Key filings for this company:
This story originally appeared on Fintel.