Penobscot Investment Management Company Inc. Makes New $988,000 Investment in Solstice Advanced Mat $SOLS

Penobscot Investment Management Company Inc. purchased a new stake in shares of Solstice Advanced Mat (NASDAQ:SOLS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,976 shares of the company’s stock, valued at approximately $988,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Folger Nolan Fleming Douglas Capital Management Inc. lifted its stake in shares of Solstice Advanced Mat by 3.3% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,509 shares of the company’s stock valued at $343,000 after acquiring an additional 146 shares during the last quarter. Global Trust Asset Management LLC bought a new position in Solstice Advanced Mat during the 1st quarter worth approximately $26,000. Princeton Global Asset Management LLC purchased a new position in Solstice Advanced Mat in the 1st quarter worth approximately $27,000. Westfuller Advisors LLC purchased a new position in Solstice Advanced Mat in the 1st quarter worth approximately $36,000. Finally, Westerkirk Capital Inc. purchased a new position in Solstice Advanced Mat in the 4th quarter worth approximately $25,000.

Wall Street Analyst Weigh In

SOLS has been the subject of a number of analyst reports. TD Cowen began coverage on Solstice Advanced Mat in a research note on Monday, June 8th. They set a “hold” rating and a $90.00 price objective for the company. BMO Capital Markets lifted their target price on shares of Solstice Advanced Mat from $92.00 to $101.00 and gave the stock an “outperform” rating in a research note on Friday, June 5th. Royal Bank Of Canada upped their price target on shares of Solstice Advanced Mat from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Mizuho raised their price target on shares of Solstice Advanced Mat from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Finally, 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. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.50.

Solstice Advanced Mat Price Performance

Shares of Solstice Advanced Mat stock opened at $61.01 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.43 and a debt-to-equity ratio of 1.40. The company has a market cap of $9.69 billion and a PE ratio of 68.55. The business has a 50 day moving average of $82.16 and a 200 day moving average of $73.56. 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, 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 company had revenue of $991.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. Solstice Advanced Mat has set its FY 2026 guidance at 2.450-2.750 EPS. As a group, equities research analysts forecast that Solstice Advanced Mat will post 2.64 earnings per share for the current year.

Solstice Advanced Mat Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 27th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Solstice Advanced Mat’s payout ratio is presently 33.71%.

Solstice Advanced Mat 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.