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Elementis ( (GB:ELM) ) has shared an announcement.
Elementis plc has executed a share buyback program, purchasing 250,000 of its own ordinary shares at an average price of 166.3849 pence per share. This move, conducted through Numis Securities Limited, is part of a previously announced initiative to optimize the company’s capital structure. The buyback reduces the total number of shares in issue to 583,847,814, potentially enhancing shareholder value by increasing earnings per share and demonstrating confidence in the company’s financial health.
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’s overall score is driven by strong technical indicators and positive corporate events such as share buybacks, which enhance shareholder value. Financial performance is stable but hindered by profitability challenges, and valuation remains a concern due to negative earnings.
To see Spark’s full report on GB:ELM stock, click here.
More about Elementis
Elementis plc is a specialty chemicals company that operates in various sectors, including personal care, coatings, and energy. The company is known for its production of high-performance additives and formulations that serve a wide range of industrial applications.
Average Trading Volume: 1,435,506
Technical Sentiment Signal: Buy
Current Market Cap: £979.7M
See more insights into ELM stock on TipRanks’ Stock Analysis page.