CenterBook Partners LP acquired a new stake in shares of Solstice Advanced Mat (NASDAQ:SOLS – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 91,170 shares of the company’s stock, valued at approximately $5,135,000.
A number of other institutional investors have also added to or reduced their stakes in SOLS. Carnegie Investment Counsel bought a new stake in Solstice Advanced Mat in the 1st quarter worth approximately $2,628,000. Tidal Investments LLC bought a new position in shares of Solstice Advanced Mat during the second quarter valued at approximately $7,262,000. Squarepoint Ops LLC bought a new stake in shares of Solstice Advanced Mat during the second quarter worth $11,692,000. State Street Corp bought a new position in Solstice Advanced Mat in the 2nd quarter worth about $448,557,000. Finally, Salem Investment Counselors Inc. grew its position in shares of Solstice Advanced Mat by 23.2% during the 3rd quarter. Salem Investment Counselors Inc. now owns 139,517 shares of the company’s stock worth $7,858,000 after buying an additional 26,266 shares in the last quarter.
Solstice Advanced Mat Stock Up 5.4%
SOLS stock traded up $2.96 during midday trading on Friday, reaching $58.00. 3,138,807 shares of the company were exchanged, compared to its average volume of 2,087,625. Solstice Advanced Mat has a 1-year low of $40.43 and a 1-year high of $90.80. The company has a market cap of $9.21 billion and a price-to-earnings ratio of 28.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.08 and a current ratio of 1.46. The stock’s 50-day simple moving average is $59.95 and its 200 day simple moving average is $69.93.
Solstice Advanced Mat (NASDAQ:SOLS – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. Solstice Advanced Mat had a net margin of 5.13% and a return on equity of 14.28%. The company had revenue of $1.05 billion for the quarter. On average, equities analysts forecast that Solstice Advanced Mat will post 2.91 earnings per share for the current year.
Solstice Advanced Mat Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a $0.0750 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 25th. Solstice Advanced Mat’s payout ratio is presently 14.71%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on SOLS shares. Mizuho cut their price objective on shares of Solstice Advanced Mat from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Wall Street Zen lowered shares of Solstice Advanced Mat from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Seaport Research Partners assumed coverage on Solstice Advanced Mat in a research report on Wednesday, October 7th. They set a “buy” rating and a $80.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Solstice Advanced Mat in a research report on Thursday, September 3rd. They issued a “buy” rating and a $86.00 price objective for the company. Finally, UBS Group decreased their target price on Solstice Advanced Mat from $80.00 to $76.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.30.
Read Our Latest Research Report on Solstice Advanced Mat
Solstice Advanced Mat Profile
Solstice Advanced Materials, Inc (NASDAQ:SOLS) is a specialty materials company that develops and manufactures engineered materials and chemical technologies for industrial and commercial applications. The company was established as an independent public company following the separation of Honeywell’s Advanced Materials business.
Its portfolio includes fluorine-based products, specialty films, advanced fibers, resins, additives, and other performance materials. These products are used in areas such as refrigeration and air conditioning, healthcare and pharmaceutical packaging, electronics and semiconductors, transportation, aerospace, and protective equipment.
Solstice Advanced Materials serves customers across global markets through a portfolio that includes Solstice refrigerants and blowing agents, Aclar specialty pharmaceutical films, and Spectra high-performance fibers.
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