HITE Hedge Asset Management LLC Acquires New Position in Solstice Advanced Mat $SOLS

HITE Hedge Asset Management LLC acquired a new stake in Solstice Advanced Mat (NASDAQ:SOLS) during the fourth quarter, Holdings Channel.com reports. The fund acquired 64,536 shares of the company’s stock, valued at approximately $3,135,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Westerkirk Capital Inc. bought a new position in Solstice Advanced Mat in the fourth quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Solstice Advanced Mat during the fourth quarter worth $26,000. Hoey Investments Inc. bought a new stake in shares of Solstice Advanced Mat during the fourth quarter worth $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Solstice Advanced Mat during the fourth quarter worth $27,000. Finally, JNBA Financial Advisors bought a new stake in shares of Solstice Advanced Mat during the fourth quarter worth $29,000.

Solstice Advanced Mat Stock Performance

NASDAQ SOLS opened at $83.06 on Friday. The firm’s fifty day moving average price is $81.87 and its two-hundred day moving average price is $69.17. The stock has a market cap of $13.19 billion and a PE ratio of 93.33. Solstice Advanced Mat has a fifty-two week low of $40.43 and a fifty-two week high of $90.80. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.02 and a current ratio of 1.43.

Solstice Advanced Mat (NASDAQ:SOLS) last posted its earnings results on Wednesday, May 6th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $991.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Solstice Advanced Mat has set its FY 2026 guidance at 2.450-2.750 EPS. On average, equities analysts expect that Solstice Advanced Mat will post 2.62 EPS for the current fiscal year.

Solstice Advanced Mat Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. Solstice Advanced Mat’s payout ratio is currently 33.71%.

Analyst Upgrades and Downgrades

SOLS has been the topic of a number of research reports. Wall Street Zen raised shares of Solstice Advanced Mat from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. BMO Capital Markets boosted their target price on shares of Solstice Advanced Mat from $92.00 to $101.00 and gave the stock an “outperform” rating in a research note on Friday, June 5th. Royal Bank Of Canada boosted their target price on shares of Solstice Advanced Mat from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, June 5th. Truist Financial initiated coverage on shares of Solstice Advanced Mat in a research note on Monday. They set a “hold” rating and a $90.00 target price on the stock. Finally, UBS Group boosted their target price on shares of Solstice Advanced Mat to $88.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.38.

Solstice Advanced Mat Company Profile

Solstice Advanced Materials is a leading global specialty materials company that advances science for smarter outcomes. Solstice offers high-performance solutions that enable critical industries and applications, including refrigerants, semiconductor manufacturing, data center cooling, nuclear power, protective fibers, healthcare packaging and more.