HITE Hedge Asset Management LLC Makes New Investment in Solstice Advanced Mat $SOLS

HITE Hedge Asset Management LLC purchased a new stake in Solstice Advanced Mat (NASDAQ:SOLS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 64,536 shares of the company’s stock, valued at approximately $3,135,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. acquired a new stake in shares of Solstice Advanced Mat in the fourth quarter valued at approximately $893,275,000. UBS Group AG acquired a new stake in shares of Solstice Advanced Mat in the fourth quarter valued at approximately $130,269,000. Norges Bank acquired a new stake in shares of Solstice Advanced Mat in the fourth quarter valued at approximately $128,368,000. Geode Capital Management LLC acquired a new stake in shares of Solstice Advanced Mat in the fourth quarter valued at approximately $110,395,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Solstice Advanced Mat in the fourth quarter valued at approximately $63,546,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SOLS. TD Cowen began coverage on shares of Solstice Advanced Mat in a research report on Monday, June 8th. They issued a “hold” rating and a $90.00 price target for the company. Wall Street Zen upgraded shares of Solstice Advanced Mat from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Truist Financial began coverage on shares of Solstice Advanced Mat in a research report on Monday. They issued a “hold” rating and a $90.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Solstice Advanced Mat in a research report on Friday, May 22nd. Finally, Mizuho set a $80.00 price target on shares of Solstice Advanced Mat in a research report on Friday, February 13th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.38.

Solstice Advanced Mat Stock Performance

Shares of NASDAQ:SOLS opened at $83.06 on Friday. The company’s 50 day simple moving average is $81.87 and its 200 day simple moving average is $69.17. The stock has a market capitalization of $13.19 billion and a price-to-earnings ratio of 93.33. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.43 and a quick ratio of 1.02. Solstice Advanced Mat has a 1 year low of $40.43 and a 1 year high of $90.80.

Solstice Advanced Mat (NASDAQ:SOLS) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $991.00 million during 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. As a group, research analysts predict that Solstice Advanced Mat will post 2.62 EPS for the current fiscal year.

Solstice Advanced Mat Dividend Announcement

The company 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. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 27th. Solstice Advanced Mat’s dividend payout ratio (DPR) is 33.71%.

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.