Perimeter Solutions (NYSE:PRM) Stock Price Down 5.8% – Here’s Why

Perimeter Solutions, SA (NYSE:PRM)’s stock price traded down 5.8% on Thursday . The stock traded as low as $31.63 and last traded at $31.5570. 516,725 shares changed hands during trading, a decline of 54% from the average session volume of 1,114,767 shares. The stock had previously closed at $33.50.

Analyst Upgrades and Downgrades

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

Perimeter Solutions Trading Down 6.3%

The company has a market cap of $5.12 billion, a PE ratio of -23.43 and a beta of 1.93. The stock’s 50 day moving average is $26.99 and its 200-day moving average is $26.91. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01.

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

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, insider Jeffrey Emery sold 53,537 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total transaction of $1,790,812.65. Following the sale, the insider directly owned 53,537 shares in the company, valued at $1,790,812.65. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kyle Sable sold 49,540 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $33.09, for a total transaction of $1,639,278.60. Following the completion of the sale, the chief financial officer directly owned 49,540 shares in the company, valued at approximately $1,639,278.60. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 900,000 shares of company stock worth $25,285,053 over the last ninety days. Company insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

Several institutional investors have recently made changes to their positions in the company. Balance Capital Partners L.P. purchased a new stake in shares of Perimeter Solutions in the fourth quarter worth approximately $69,115,000. Principal Financial Group Inc. increased its stake in Perimeter Solutions by 15.0% in the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after buying an additional 1,634,158 shares during the period. Janus Henderson Group PLC increased its stake in Perimeter Solutions by 54.9% in the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock worth $101,634,000 after buying an additional 1,308,602 shares during the period. Invesco Ltd. increased its stake in Perimeter Solutions by 157.3% in the 4th 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 period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Perimeter Solutions by 50.4% in the 3rd 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 during the period. 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.