Solstice Advanced Mat (NASDAQ:SOLS) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Solstice Advanced Mat (NASDAQ:SOLS) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $77.30.

Several brokerages recently issued reports on SOLS. Vertical Research raised Solstice Advanced Mat from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Wednesday, July 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 price target on shares of Solstice Advanced Mat in a research report on Wednesday, October 21st. Seaport Research Partners started coverage on shares of Solstice Advanced Mat in a report on Wednesday, October 7th. They set a “buy” rating and a $80.00 price target for the company. 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. Finally, Barclays assumed coverage on shares of Solstice Advanced Mat in a research note on Monday, October 12th. They issued an “overweight” rating and a $73.00 price objective on the stock.

Institutional Investors Weigh In On Solstice Advanced Mat

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp acquired a new stake in Solstice Advanced Mat in the second quarter valued at approximately $448,557,000. Bank of America Corp DE bought a new stake in Solstice Advanced Mat in the second quarter worth $153,615,000. Allspring Global Investments Holdings LLC bought a new stake in Solstice Advanced Mat in the third quarter worth $58,087,000. Anchor Capital Advisors LLC acquired a new position in Solstice Advanced Mat during the second quarter worth $55,866,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its position in Solstice Advanced Mat by 36.5% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 570,114 shares of the company’s stock worth $32,109,000 after buying an additional 152,428 shares during the last quarter.

Solstice Advanced Mat Stock Up 5.4%

Shares of Solstice Advanced Mat stock opened at $58.00 on Tuesday. Solstice Advanced Mat has a 12-month low of $40.43 and a 12-month high of $90.80. The firm has a market capitalization of $9.21 billion and a PE ratio of 28.43. The company has a quick ratio of 1.08, a current ratio of 1.38 and a debt-to-equity ratio of 1.30. The stock’s fifty day moving average is $59.95 and its 200-day moving average is $69.93.

Solstice Advanced Mat (NASDAQ:SOLS) last posted 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 return on equity of 27.15% and a net margin of 7.79%. The firm had revenue of $1.05 billion for the quarter. Equities analysts anticipate that Solstice Advanced Mat will post 2.93 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. The ex-dividend date is Wednesday, November 25th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Solstice Advanced Mat’s payout ratio is 14.71%.

Solstice Advanced Mat Company Profile

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.