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Stock Alert: Element Solutions Hits New 52-week High As Outlook Raised

Shares of Element Solutions Inc (ESI), a specialty chemicals company, are rising more than 11 percent or $1.67 in Wednesday's morning trade at $16.54, after hitting a new 52-week high of $16.63.

Wednesday, Element Solutions said it is raising its adjusted EBITDA outlook for the fourth quarter to about $118 million, from between $90 million and $95 million. This translates to expected adjusted EBITDA for fiscal 2020 of about $415 million, and year-over-year growth in full year adjusted earnings per share as well as free cash flow.

The company said it expects mid-to-high single digit growth in adjusted earnings per share for fiscal 2020.

Element Solutions has traded in a range of $5.35 to $16.63 in the past 52 weeks.

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