Truist Financial Corp Takes Position in Perimeter Solutions, SA $PRM

Truist Financial Corp acquired a new stake in Perimeter Solutions, SA (NYSE:PRM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,311 shares of the company’s stock, valued at approximately $669,000.

Several other institutional investors and hedge funds have also made changes to their positions in PRM. Jones Financial Companies Lllp purchased a new stake in shares of Perimeter Solutions in the third quarter valued at $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Perimeter Solutions in the second quarter valued at $42,000. Comerica Bank lifted its position in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after acquiring an additional 1,324 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Perimeter Solutions by 1,450.0% in the third quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock valued at $47,000 after acquiring an additional 1,972 shares in the last quarter. Finally, Ancora Advisors LLC lifted its position in shares of Perimeter Solutions by 219.0% in the third quarter. Ancora Advisors LLC now owns 3,190 shares of the company’s stock valued at $71,000 after acquiring an additional 2,190 shares in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. UBS Group upped their target price on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley upped their target price on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Perimeter Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Perimeter Solutions Stock Performance

Perimeter Solutions stock opened at $33.42 on Tuesday. The firm has a market capitalization of $5.45 billion, a P/E ratio of -24.94 and a beta of 1.93. The stock has a fifty day moving average price of $26.60 and a 200 day moving average price of $26.77. Perimeter Solutions, SA has a 52 week low of $11.55 and a 52 week high of $34.89. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $125.07 million during the quarter, compared to analyst estimates of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. Equities research analysts anticipate that Perimeter Solutions, SA will post 1.91 earnings per share for the current year.

Insider Activity at Perimeter Solutions

In related news, insider Jeffrey Emery sold 99,963 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $32.92, for a total value of $3,290,781.96. Following the completion of the transaction, the insider directly owned 46,500 shares in the company, valued at approximately $1,530,780. This represents a 68.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kyle Sable sold 150,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $31.52, for a total value of $4,728,000.00. Following the sale, the chief financial officer owned 20,000 shares of the company’s stock, valued at $630,400. This represents a 88.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 900,000 shares of company stock worth $25,285,053. 13.10% of the stock is currently owned by insiders.

Perimeter Solutions 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.