Solstice Advanced Mat $SOLS Stock Sold by Philadelphia Trust Co.

Philadelphia Trust Co. lessened its stake in shares of Solstice Advanced Mat (NASDAQ:SOLS) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 286,671 shares of the company’s stock after selling 11,901 shares during the quarter. Solstice Advanced Mat comprises approximately 1.1% of Philadelphia Trust Co.’s holdings, making the stock its 24th largest position. Philadelphia Trust Co. owned about 0.18% of Solstice Advanced Mat worth $16,145,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Manning & Napier Advisors LLC bought a new position in shares of Solstice Advanced Mat in the 2nd quarter valued at approximately $27,000. Compass Financial Management LLC acquired a new stake in Solstice Advanced Mat in the 2nd quarter worth approximately $28,000. Philadelphia Investment Partners LLC bought a new stake in Solstice Advanced Mat during the second quarter worth approximately $34,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Solstice Advanced Mat during the third quarter worth approximately $27,000. Finally, Pathway Financial Advisers LLC bought a new stake in Solstice Advanced Mat during the third quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on SOLS. Wall Street Zen downgraded Solstice Advanced Mat from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Mizuho dropped their price target 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. Zacks Research cut shares of Solstice Advanced Mat from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Seaport Research Partners began coverage on shares of Solstice Advanced Mat in a report on Wednesday, October 7th. They set a “buy” rating and a $80.00 price objective for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price objective on shares of Solstice Advanced Mat in a report on Wednesday, October 21st. One research 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 company. According to data from MarketBeat.com, Solstice Advanced Mat has an average rating of “Moderate Buy” and an average price target of $77.30.

Solstice Advanced Mat Price Performance

NASDAQ SOLS opened at $65.02 on Wednesday. The stock has a 50-day simple moving average of $59.98 and a 200 day simple moving average of $69.94. Solstice Advanced Mat has a twelve month low of $40.43 and a twelve month high of $90.80. The stock has a market capitalization of $10.22 billion and a PE ratio of 31.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.04 and a current ratio of 1.38.

Solstice Advanced Mat (NASDAQ:SOLS) last released its earnings results on Wednesday, November 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The firm had revenue of $1.05 billion for the quarter. Solstice Advanced Mat had a return on equity of 27.15% and a net margin of 7.79%. Research analysts anticipate that Solstice Advanced Mat will post 2.92 EPS for the current year.

Solstice Advanced Mat Dividend Announcement

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

About Solstice Advanced Mat

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.