Perimeter Solutions, SA $PRM Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 486,421 shares of the company’s stock after selling 69,241 shares during the period. Nordea Investment Management AB’s holdings in Perimeter Solutions were worth $13,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PRM. Jones Financial Companies Lllp acquired a new stake in shares of Perimeter Solutions in the third quarter worth approximately $27,000. Brown Lisle Cummings Inc. acquired a new position in Perimeter Solutions in the 3rd quarter valued at $45,000. TD Private Client Wealth LLC raised its stake in 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 purchasing an additional 1,972 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Perimeter Solutions in the 2nd quarter valued at $42,000. Finally, Ancora Advisors LLC lifted its holdings in Perimeter Solutions by 219.0% in the 3rd quarter. Ancora Advisors LLC now owns 3,190 shares of the company’s stock valued at $71,000 after purchasing an additional 2,190 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Perimeter Solutions Stock Performance

NYSE PRM opened at $22.11 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.42 and a current ratio of 3.22. The stock’s fifty day moving average is $25.48 and its two-hundred day moving average is $25.18. The firm has a market capitalization of $3.30 billion, a P/E ratio of -15.57 and a beta of 1.98. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $29.88.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Thursday, February 26th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $102.75 million during the quarter, compared to the consensus estimate of $94.05 million. On average, research analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insider Transactions at Perimeter Solutions

In related news, Director William N. Thorndike, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were 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 directly owned 8,635,656 shares in the company, valued at approximately $204,060,551.28. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 450,000 shares of company stock worth $10,722,750 in the last ninety days. 10.00% of the stock is currently owned by company 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.