Martin Franklin, executive chairman of Element Solutions’ (NYSE:ESI) board of directors, increased his stake in the chemicals company by purchasing 902,000 shares in multiple transactions on November 11, 14, and 15, for a total consideration of $17.2 million. ESI stock gained nearly 3% in Wednesday’s pre-market trading in reaction to the disclosure made in an SEC filing.
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As per the SEC filing, shares are held by a charitable foundation in which Franklin serves as a director and officer. Element Solutions earns a Positive insider confidence signal on TipRanks, based on this recent insider transaction.
Element Solutions formulates chemical solutions that enhance the performance of products people use every day. Its innovative solutions enable customers’ manufacturing processes in several key industries.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is ESI a Good Stock to Buy?
On TipRanks, ESI stock has a Moderate Buy consensus rating based on four Buys, two Holds and one Sell. The average Element Solutions stock price target of $20.21 implies 5.81% upside potential.
