Solstice Advanced Mat $SOLS Shares Newly Bought by Pettee Investors Inc.

Pettee Investors Inc. purchased a new stake in shares of Solstice Advanced Mat (NASDAQ:SOLS) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,422 shares of the company’s stock, valued at approximately $531,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SOLS. Manning & Napier Advisors LLC bought a new stake in Solstice Advanced Mat in the 2nd quarter worth about $27,000. Compass Financial Management LLC purchased a new stake in Solstice Advanced Mat in the 2nd quarter valued at about $28,000. Philadelphia Investment Partners LLC purchased a new stake in Solstice Advanced Mat in the 2nd quarter valued at about $34,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Solstice Advanced Mat during the 3rd quarter worth approximately $27,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Solstice Advanced Mat during the 3rd quarter worth approximately $30,000.

Solstice Advanced Mat Stock Performance

Shares of NASDAQ:SOLS traded down $0.39 during midday trading on Friday, reaching $66.12. The company had a trading volume of 1,416,437 shares, compared to its average volume of 2,592,027. Solstice Advanced Mat has a 52-week low of $40.43 and a 52-week high of $90.80. The company’s 50 day moving average price is $60.30 and its 200 day moving average price is $70.00. The company has a current ratio of 1.38, a quick ratio of 1.04 and a debt-to-equity ratio of 1.30. The stock has a market cap of $10.39 billion and a P/E ratio of 32.41.

Solstice Advanced Mat (NASDAQ:SOLS) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. The business had revenue of $1.05 billion for the quarter. Solstice Advanced Mat had a net margin of 7.79% and a return on equity of 27.15%. As a group, sell-side analysts anticipate that Solstice Advanced Mat will post 2.92 EPS for the current fiscal year.

Solstice Advanced Mat Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis 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%.

Analyst Ratings Changes

SOLS has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Solstice Advanced Mat in a research note on Thursday, September 3rd. They issued a “buy” rating and a $86.00 target price on the stock. Seaport Research Partners assumed coverage on Solstice Advanced Mat in a report on Wednesday, October 7th. They issued a “buy” rating and a $80.00 target price for the company. Zacks Research downgraded Solstice Advanced Mat from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Vertical Research raised Solstice Advanced Mat from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Wednesday, July 22nd. Finally, UBS Group dropped their price target on Solstice Advanced Mat from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.30.

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.