State Street Corp Makes New Investment in Solstice Advanced Mat $SOLS

Key Points

• State Street Corp purchased 5.06 million shares of Solstice Advanced Materials in the second quarter, worth approximately $448.6 million and representing a 3.19% stake. Several other major institutions also initiated sizable positions.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $79.11, although targets range from $70 to $80 and some analysts maintain a Hold rating.
• SOLS recently reported quarterly earnings of $0.88 per share, beating estimates of $0.79, on $1.15 billion in revenue. The company also pays a quarterly dividend of $0.075, equivalent to a 0.5% annualized yield.

State Street Corp purchased a new stake in Solstice Advanced Mat (NASDAQ:SOLS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,063,616 shares of the company's stock, valued at approximately $448,557,000. State Street Corp owned about 3.19% of Solstice Advanced Mat at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Bank of America Corp DE bought a new position in Solstice Advanced Mat during the second quarter worth about $153,615,000. Madison Avenue Partners LP bought a new position in shares of Solstice Advanced Mat during the 4th quarter worth approximately $135,172,000. Norges Bank bought a new position in shares of Solstice Advanced Mat during the 4th quarter worth approximately $128,368,000. Geode Capital Management LLC bought a new stake in Solstice Advanced Mat in the 4th quarter valued at $110,395,000. Finally, Castle Hook Partners LP bought a new stake in Solstice Advanced Mat in the 4th quarter valued at $57,828,000.

Analyst Upgrades and Downgrades

SOLS has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Solstice Advanced Mat from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Solstice Advanced Mat from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. Mizuho decreased their price target on shares of Solstice Advanced Mat from $95.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. Zacks Research upgraded shares of Solstice Advanced Mat from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Solstice Advanced Mat from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.11.

Solstice Advanced Mat Stock Performance

SOLS opened at $57.98 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.08 and a current ratio of 1.46. Solstice Advanced Mat has a 52-week low of $40.43 and a 52-week high of $90.80. The firm has a market cap of $9.21 billion and a P/E ratio of 32.76. The business's fifty day moving average is $59.93 and its 200-day moving average is $72.25.

Solstice Advanced Mat (NASDAQ:SOLS - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.09. Solstice Advanced Mat had a net margin of 5.13% and a return on equity of 14.28%. The company had revenue of $1.15 billion during the quarter. Solstice Advanced Mat has set its FY 2026 guidance at 2.750-2.950 EPS. Sell-side analysts expect that Solstice Advanced Mat will post 2.88 EPS for the current fiscal year.

Solstice Advanced Mat Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Solstice Advanced Mat's dividend payout ratio is 16.95%.

Solstice Advanced Mat Company Profile

Solstice Advanced Materials, Inc NASDAQ: SOLS is an advanced materials company that develops and manufactures specialty chemicals and performance materials for industrial and commercial applications. The company focuses on solutions designed to support energy efficiency, lower environmental impact and improved product performance.

Its portfolio includes Solstice-branded low-global-warming-potential refrigerants, aerosol propellants and blowing agents, as well as specialty materials such as fluoropolymers and other performance chemicals.

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