Solstice Advanced Mat Sees Unusually Large Options Volume (NASDAQ:SOLS)

Solstice Advanced Mat (NASDAQ:SOLS) saw unusually large options trading activity on Wednesday. Traders bought 34,078 call options on the company. This is an increase of approximately 680% compared to the average volume of 4,367 call options.

Solstice Advanced Mat Stock Performance

Shares of NASDAQ SOLS traded up $2.01 during midday trading on Wednesday, hitting $67.03. The company’s stock had a trading volume of 1,365,699 shares, compared to its average volume of 2,796,765. The firm has a market capitalization of $10.54 billion and a price-to-earnings ratio of 32.91. 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 fifty day moving average price of $59.98 and a 200 day moving average price of $69.94. Solstice Advanced Mat has a one year low of $40.43 and a one year high of $90.80.

Solstice Advanced Mat (NASDAQ:SOLS) last released 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. Solstice Advanced Mat had a net margin of 7.79% and a return on equity of 27.15%. The company had revenue of $1.05 billion during the quarter. On average, research analysts forecast that Solstice Advanced Mat will post 2.92 EPS for the current fiscal year.

Solstice Advanced Mat Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, November 25th. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. Solstice Advanced Mat’s dividend payout ratio is currently 14.71%.

Hedge Funds Weigh In On Solstice Advanced Mat

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new stake in Solstice Advanced Mat during the 3rd quarter worth about $2,333,000. Private Wealth Asset Management LLC boosted its stake in Solstice Advanced Mat by 174.8% in the 3rd quarter. Private Wealth Asset Management LLC now owns 4,122 shares of the company’s stock worth $239,000 after purchasing an additional 2,622 shares during the period. Private Advisor Group LLC boosted its stake in Solstice Advanced Mat by 36.1% in the 3rd quarter. Private Advisor Group LLC now owns 62,477 shares of the company’s stock worth $3,519,000 after purchasing an additional 16,583 shares during the period. Focus Advisor Solutions LLC grew its holdings in Solstice Advanced Mat by 2.2% during the 3rd quarter. Focus Advisor Solutions LLC now owns 8,221 shares of the company’s stock valued at $463,000 after buying an additional 177 shares in the last quarter. Finally, Independent Advisor Alliance grew its holdings in Solstice Advanced Mat by 15.9% during the 3rd quarter. Independent Advisor Alliance now owns 4,331 shares of the company’s stock valued at $246,000 after buying an additional 595 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group reduced their price objective on Solstice Advanced Mat from $80.00 to $76.00 and set a “buy” rating for the company in a report on Monday, October 5th. Mizuho lowered their target price on Solstice Advanced Mat from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. 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 target on the stock. Vertical Research upgraded Solstice Advanced Mat from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Wednesday, July 22nd. Finally, 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 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.