Insider Selling: Perimeter Solutions (NYSE:PRM) Director Sells 125,000 Shares of Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 125,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $24.26, for a total value of $3,032,500.00. Following the completion of the sale, the director owned 9,060,656 shares of the company’s stock, valued at approximately $219,811,514.56. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Perimeter Solutions Stock Down 3.5%

Shares of PRM traded down $0.84 during midday trading on Friday, reaching $23.49. 1,152,961 shares of the company were exchanged, compared to its average volume of 970,795. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $29.88. The stock has a 50-day moving average price of $26.97 and a 200-day moving average price of $24.98. The company has a current ratio of 3.22, a quick ratio of 1.72 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -16.54 and a beta of 1.98.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Perimeter Solutions

Several large investors have recently modified their holdings of PRM. Arax Advisory Partners increased its holdings in Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after buying an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after buying an additional 389 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Perimeter Solutions in the 3rd quarter worth approximately $27,000. Brown Lisle Cummings Inc. bought a new stake in shares of Perimeter Solutions in the 3rd quarter valued at approximately $45,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of Perimeter Solutions by 1,450.0% in the 3rd 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 during the last quarter. Institutional investors own 89.93% of the company’s stock.

About Perimeter Solutions

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.