HighTower Advisors LLC Has $5.05 Million Stake in Perimeter Solutions, SA $PRM

HighTower Advisors LLC lessened its holdings in Perimeter Solutions, SA (NYSE:PRM) by 18.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 183,331 shares of the company’s stock after selling 41,593 shares during the period. HighTower Advisors LLC’s holdings in Perimeter Solutions were worth $5,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PRM. Arrowstreet Capital Limited Partnership increased its holdings 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 valued at $47,739,000 after buying an additional 714,816 shares during the period. Millennium Management LLC bought a new stake in Perimeter Solutions in the 3rd quarter valued at $14,612,000. Bank of America Corp DE increased its holdings in Perimeter Solutions by 35.8% in the 2nd quarter. Bank of America Corp DE now owns 2,274,018 shares of the company’s stock valued at $31,654,000 after buying an additional 599,972 shares during the period. Skye Global Management LP increased its holdings in Perimeter Solutions by 485.2% in the 2nd quarter. Skye Global Management LP now owns 614,500 shares of the company’s stock valued at $8,554,000 after buying an additional 509,500 shares during the period. Finally, Credit Agricole S A bought a new stake in Perimeter Solutions in the 3rd quarter valued at $9,338,000. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Trading Up 2.3%

Shares of NYSE PRM opened at $32.39 on Friday. Perimeter Solutions, SA has a 1-year low of $11.84 and a 1-year high of $34.89. The company has a market cap of $5.28 billion, a PE ratio of -24.17 and a beta of 1.93. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $28.04 and a two-hundred day moving average of $27.21.

Perimeter Solutions (NYSE:PRM) last released its quarterly 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 business had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. As a group, equities analysts expect that Perimeter Solutions, SA will post 1.91 earnings per share for the current fiscal year.

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $31.19, for a total value of $3,665,168.09. Following the transaction, the chief executive officer directly owned 1,874,615 shares in the company, valued at approximately $58,469,241.85. This trade represents a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Emery sold 99,963 shares of the business’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 sale, the insider owned 46,500 shares of the company’s stock, valued at approximately $1,530,780. The trade was a 68.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,129,535 shares of company stock worth $32,569,161 in the last quarter. 13.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRM has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. UBS Group boosted their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Morgan Stanley boosted their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research note 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.