Perimeter Solutions (NYSE:PRM) Director William Thorndike, Jr. Sells 100,000 Shares of Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $23.63, for a total transaction of $2,363,000.00. Following the completion of the sale, the director owned 8,635,656 shares of the company’s stock, valued at $204,060,551.28. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Perimeter Solutions Stock Down 0.6%

PRM stock opened at $23.31 on Thursday. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $29.88. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -16.41 and a beta of 1.98. The business’s 50 day moving average price is $26.63 and its two-hundred day moving average price is $25.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.42 and a current ratio of 3.22.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, February 26th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The company had revenue of $102.75 million during the quarter, compared to analysts’ expectations of $94.05 million. As a group, analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRM. Weiss Ratings downgraded shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, March 2nd. Morgan Stanley set a $35.00 price objective on shares of Perimeter Solutions in a research note on Monday, December 15th. Zacks Research downgraded shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Finally, UBS Group decreased their target price on shares of Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.50.

Hedge Funds Weigh In On Perimeter Solutions

Large investors have recently modified their holdings of the stock. Balance Capital Partners L.P. bought a new position in Perimeter Solutions in the 4th quarter worth about $69,115,000. Janus Henderson Group PLC increased its stake in Perimeter Solutions by 54.9% during the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock valued at $101,634,000 after purchasing an additional 1,308,602 shares in the last quarter. Alpha Wave Global LP purchased a new position in Perimeter Solutions in the second quarter worth about $11,155,000. Invesco Ltd. raised its holdings in Perimeter Solutions by 157.3% in the fourth quarter. Invesco Ltd. now owns 1,294,686 shares of the company’s stock worth $35,643,000 after buying an additional 791,558 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Perimeter Solutions by 50.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,132,167 shares of the company’s stock worth $47,739,000 after buying an additional 714,816 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.