Investors Buy Large Volume of Call Options on Solstice Advanced Mat (NASDAQ:SOLS)

Solstice Advanced Mat (NASDAQ:SOLS) was the target of unusually large options trading on Wednesday. Investors purchased 34,078 call options on the stock. This is an increase of approximately 680% compared to the typical daily volume of 4,367 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp acquired a new position in shares of Solstice Advanced Mat during the second quarter valued at $448,557,000. Bank of America Corp DE acquired a new stake in Solstice Advanced Mat in the second quarter worth about $153,615,000. Allspring Global Investments Holdings LLC bought a new position in Solstice Advanced Mat in the 3rd quarter valued at about $58,087,000. Anchor Capital Advisors LLC bought a new position in Solstice Advanced Mat in the 2nd quarter valued at about $55,866,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in Solstice Advanced Mat by 36.5% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 570,114 shares of the company’s stock valued at $32,109,000 after buying an additional 152,428 shares in the last quarter.

Solstice Advanced Mat Price Performance

Shares of NASDAQ:SOLS opened at $67.15 on Thursday. The firm’s 50 day moving average is $60.09 and its two-hundred day moving average is $69.96. The firm has a market capitalization of $10.56 billion and a P/E ratio of 32.92. The company has a current ratio of 1.38, a quick ratio of 1.04 and a debt-to-equity ratio of 1.30. Solstice Advanced Mat has a 52 week low of $40.43 and a 52 week high of $90.80.

Solstice Advanced Mat (NASDAQ:SOLS) last issued 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 business had revenue of $1.05 billion during the quarter. Analysts anticipate that Solstice Advanced Mat will post 2.92 earnings per share for the current year.

Solstice Advanced Mat Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders 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 yield of 0.4%. The ex-dividend date is Wednesday, November 25th. Solstice Advanced Mat’s payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

SOLS has been the subject of a number of analyst reports. Jefferies Financial Group began coverage on Solstice Advanced Mat in a research report on Thursday, September 3rd. They set a “buy” rating and a $86.00 price objective for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 target price on shares of Solstice Advanced Mat in a research report on Wednesday, October 21st. Barclays started coverage on Solstice Advanced Mat in a research note on Monday, October 12th. They issued an “overweight” rating and a $73.00 target price on the stock. Weiss Ratings downgraded shares of Solstice Advanced Mat from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Finally, Seaport Research Partners initiated coverage on shares of Solstice Advanced Mat in a research report on Wednesday, October 7th. They set a “buy” rating and a $80.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the 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 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.