9,252 Shares in Solstice Advanced Mat $SOLS Purchased by Inspire Investing LLC

Inspire Investing LLC purchased a new stake in shares of Solstice Advanced Mat (NASDAQ:SOLS) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,252 shares of the company’s stock, valued at approximately $521,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SOLS. Arizona State Retirement System raised its position in shares of Solstice Advanced Mat by 0.5% in the second quarter. Arizona State Retirement System now owns 43,816 shares of the company’s stock valued at $3,882,000 after purchasing an additional 217 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Solstice Advanced Mat by 5.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,869 shares of the company’s stock worth $297,000 after buying an additional 263 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Solstice Advanced Mat during the 2nd quarter worth $27,000. CX Institutional boosted its holdings in shares of Solstice Advanced Mat by 29.5% during the 3rd quarter. CX Institutional now owns 1,421 shares of the company’s stock worth $80,000 after buying an additional 324 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Solstice Advanced Mat by 0.4% in the 2nd quarter. Hsbc Holdings PLC now owns 96,570 shares of the company’s stock valued at $8,531,000 after buying an additional 342 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on SOLS shares. Truist Financial set a $75.00 target price on shares of Solstice Advanced Mat and gave the stock a “buy” rating in a report on Thursday, July 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of Solstice Advanced Mat in a research report on Wednesday, September 30th. Zacks Research lowered Solstice Advanced Mat from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings lowered Solstice Advanced Mat from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Finally, Morgan Stanley cut Solstice Advanced Mat to a “buy” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Solstice Advanced Mat currently has an average rating of “Moderate Buy” and an average target price of $77.30.

Solstice Advanced Mat Trading Down 3.2%

Shares of SOLS stock opened at $60.55 on Friday. The firm has a fifty day moving average of $59.71 and a 200-day moving average of $69.95. The stock has a market cap of $9.62 billion and a price-to-earnings ratio of 34.21. Solstice Advanced Mat has a 52-week low of $40.43 and a 52-week high of $90.80. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.08 and a current ratio of 1.46.

Solstice Advanced Mat (NASDAQ:SOLS) last issued its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. The business had revenue of $1.15 billion during the quarter. Solstice Advanced Mat had a return on equity of 14.28% and a net margin of 5.13%. On average, equities research analysts forecast that Solstice Advanced Mat will post 2.87 earnings per share for the current fiscal year.

About Solstice Advanced Mat

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.