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Elementis ( (GB:ELM) ) just unveiled an announcement.
Elementis, a company involved in the chemical industry, has executed a share buyback program as announced earlier this year. The company repurchased 165,000 of its ordinary shares at an average price of 165.5403 pence per share, which will be canceled, reducing the total number of shares in circulation. This move is part of Elementis’ strategy to manage its capital structure and potentially enhance shareholder value by reducing the number of shares outstanding, thereby increasing earnings per share.
The most recent analyst rating on (GB:ELM) stock is a Hold with a £178.00 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 stock score is driven by strong technical momentum and positive corporate actions like share buybacks and strategic acquisitions. However, financial performance is mixed with strong cash flow but persistent profitability issues, and valuation metrics are weak due to negative earnings.
To see Spark’s full report on GB:ELM stock, click here.
More about Elementis
Average Trading Volume: 1,026,842
Technical Sentiment Signal: Buy
Current Market Cap: £941M
See more insights into ELM stock on TipRanks’ Stock Analysis page.