Philadelphia Trust Co. Sells 11,901 Shares of Solstice Advanced Mat $SOLS

Philadelphia Trust Co. trimmed its stake in Solstice Advanced Mat (NASDAQ:SOLS – Free Report) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,671 shares of the company’s stock after selling 11,901 shares during the period. Solstice Advanced Mat comprises about 1.1% of Philadelphia Trust Co.’s investment portfolio, making the stock its 24th biggest position. Philadelphia Trust Co.’s holdings in Solstice Advanced Mat were worth $16,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Manning & Napier Advisors LLC acquired a new position in shares of Solstice Advanced Mat during the second quarter valued at about $27,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Solstice Advanced Mat in the third quarter valued at about $27,000. Compass Financial Management LLC bought a new stake in shares of Solstice Advanced Mat in the second quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new stake in Solstice Advanced Mat during the third quarter worth about $30,000. Finally, Philadelphia Investment Partners LLC acquired a new stake in Solstice Advanced Mat during the second quarter worth about $34,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Vertical Research upgraded Solstice Advanced Mat from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Wednesday, July 22nd. Seaport Research Partners started coverage on Solstice Advanced Mat in a report on Wednesday, October 7th. They issued a “buy” rating and a $80.00 price target for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $82.00 price objective on shares of Solstice Advanced Mat in a research report on Wednesday, September 30th. Weiss Ratings lowered Solstice Advanced Mat from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Finally, Mizuho decreased their price objective on Solstice Advanced Mat from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.30.

Check Out Our Latest Stock Analysis on Solstice Advanced Mat

Solstice Advanced Mat Trading Up 2.2%

NASDAQ:SOLS opened at $65.02 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.04 and a debt-to-equity ratio of 1.30. Solstice Advanced Mat has a 1-year low of $40.43 and a 1-year high of $90.80. The firm has a market capitalization of $10.22 billion and a price-to-earnings ratio of 31.87. The business’s 50-day moving average price is $59.98 and its two-hundred day moving average price is $69.94.

Solstice Advanced Mat (NASDAQ:SOLS – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.11. Solstice Advanced Mat had a net margin of 7.79% and a return on equity of 27.15%. The company had revenue of $1.05 billion during the quarter. On average, equities analysts expect that Solstice Advanced Mat will post 2.92 earnings per share for the current year.

Solstice Advanced Mat Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be paid a $0.0750 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Solstice Advanced Mat’s dividend payout ratio is presently 14.71%.

Solstice Advanced Mat Profile

(Free Report)

Solstice Advanced Materials is a specialty materials company that develops and manufactures products for industrial and commercial customers. Its offerings include refrigerants and foam-blowing agents, materials used in semiconductor and electronics manufacturing, healthcare packaging films, and other performance materials. The company was established as a spin-off of Honeywell’s Advanced Materials business, bringing together product lines and technologies developed within Honeywell and its predecessor businesses.

Further Reading

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Institutional Ownership by Quarter for Solstice Advanced Mat (NASDAQ:SOLS)

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