Elementis Executes Share Buyback to Optimize Capital Structure

An announcement from Elementis ( (GB:ELM) ) is now available.

Elementis plc, a company involved in the specialty chemicals industry, has announced a transaction involving the repurchase of 250,000 of its own ordinary shares as part of a share buyback program. The shares were purchased at prices ranging from 141.60 GBp to 145.60 GBp, with an average price of 145.0848 GBp. The repurchased shares will be held in treasury, and this move adjusts the total voting rights in the company to 591,774,769. This transaction is part of Elementis’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (GB:ELM) stock is a Buy with a £190.00 price target. To see the full list of analyst forecasts on Elementis stock, see the GB:ELM Stock Forecast page.

Spark’s Take on GB:ELM Stock

According to Spark, TipRanks’ AI Analyst, GB:ELM is a Neutral.

Elementis benefits from strong technical momentum and positive corporate events, such as strategic divestments and share buybacks. However, profitability challenges and modest valuation metrics weigh on the overall score.

To see Spark’s full report on GB:ELM stock, click here.

More about Elementis

Average Trading Volume: 1,100,068

Technical Sentiment Signal: Strong Buy

Current Market Cap: £843.7M

Find detailed analytics on ELM stock on TipRanks’ Stock Analysis page.