Elementis Executes Share Buyback to Optimize Capital Structure

An update 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 its share buyback program. This move is part of a strategy to manage the company’s capital structure and potentially enhance shareholder value by reducing the number of shares in circulation. The shares were bought at an average price of 154.5142 pence each, and following this transaction, the total number of voting rights in the company will be 590,690,219.

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 stock score is influenced by strong technical indicators and positive corporate events, including a strategic share buyback and divestment. However, recurring profitability challenges and a negative P/E ratio weigh down the score. The financial performance reflects a balance of strong cash flow against weak earnings, while bullish technical analysis and corporate events provide optimism for future performance.

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

More about Elementis

Average Trading Volume: 1,181,416

Technical Sentiment Signal: Strong Buy

Current Market Cap: £911.3M

See more insights into ELM stock on TipRanks’ Stock Analysis page.