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

Key Points

• Investors bought 34,078 SOLS call options on Wednesday, roughly 680% above the average volume of 4,367 contracts.
• Shares rose 3.1% to $67.03. The company reported quarterly EPS of $0.80, beating analyst estimates of $0.69, on revenue of $1.05 billion.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $77.30; institutional investors have also recently added or opened positions in the stock.

Solstice Advanced Mat (NASDAQ:SOLS - Get Free Report) was the target of some unusual options trading activity on Wednesday. Investors acquired 34,078 call options on the stock. This is an increase of approximately 680% compared to the average volume of 4,367 call options.

Institutional Trading of Solstice Advanced Mat

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC bought a new stake in shares of Solstice Advanced Mat during the 2nd quarter worth $7,262,000. Squarepoint Ops LLC bought a new position in Solstice Advanced Mat during the second quarter valued at about $11,692,000. Carnegie Investment Counsel purchased a new stake in Solstice Advanced Mat during the first quarter worth about $2,628,000. State Street Corp purchased a new stake in Solstice Advanced Mat during the second quarter worth about $448,557,000. Finally, Salem Investment Counselors Inc. increased its holdings in Solstice Advanced Mat by 23.2% during the third quarter. Salem Investment Counselors Inc. now owns 139,517 shares of the company's stock worth $7,858,000 after buying an additional 26,266 shares during the last quarter.

Solstice Advanced Mat Stock Up 3.1%

Shares of SOLS traded up $2.01 during trading hours on Wednesday, reaching $67.03. 1,365,699 shares of the stock traded hands, compared to its average volume of 2,796,765. Solstice Advanced Mat has a 52 week low of $40.43 and a 52 week high of $90.80. The company has a market cap of $10.54 billion and a price-to-earnings ratio of 32.91. The stock has a fifty day simple moving average of $59.98 and a 200 day simple moving average of $69.94. 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 (NASDAQ:SOLS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.11. The business had revenue of $1.05 billion during the quarter. Solstice Advanced Mat had a net margin of 7.79% and a return on equity of 27.15%. On average, equities analysts forecast that Solstice Advanced Mat will post 2.92 EPS for the current year.

Solstice Advanced Mat Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be issued a $0.0750 dividend. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Solstice Advanced Mat in a research note on Thursday, September 3rd. They set a "buy" rating and a $86.00 price target for the company. Zacks Research downgraded Solstice Advanced Mat from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. Weiss Ratings lowered Solstice Advanced Mat from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 9th. Mizuho cut their target price on Solstice Advanced Mat from $70.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, October 1st. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $87.00 price target on shares of Solstice Advanced Mat in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $77.30.

About Solstice Advanced Mat

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.

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