Nordea Investment Management AB Grows Stock Holdings in Perimeter Solutions, SA $PRM

Nordea Investment Management AB grew its stake in Perimeter Solutions, SA (NYSE:PRM) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 538,367 shares of the company’s stock after purchasing an additional 3,844 shares during the period. Nordea Investment Management AB owned approximately 0.36% of Perimeter Solutions worth $7,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in PRM. Comerica Bank grew its holdings in Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after buying an additional 1,324 shares in the last quarter. Templeton & Phillips Capital Management LLC boosted its position in shares of Perimeter Solutions by 1.8% during the 1st quarter. Templeton & Phillips Capital Management LLC now owns 188,999 shares of the company’s stock valued at $1,903,000 after acquiring an additional 3,383 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Perimeter Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock valued at $801,000 after purchasing an additional 3,428 shares during the period. Catawba River Capital increased its position in Perimeter Solutions by 0.6% during the first quarter. Catawba River Capital now owns 603,055 shares of the company’s stock worth $6,073,000 after purchasing an additional 3,875 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in Perimeter Solutions by 16.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 30,700 shares of the company’s stock valued at $427,000 after purchasing an additional 4,300 shares during 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 analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Wall Street Zen cut Perimeter Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $27.00 price target on shares of Perimeter Solutions in a report on Friday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $22.45, for a total value of $561,250.00. Following the sale, the director directly owned 121,701 shares of the company’s stock, valued at approximately $2,732,187.45. This represents a 17.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey Emery sold 300,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $22.28, for a total transaction of $6,684,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 365,000 shares of company stock valued at $8,127,250 over the last 90 days. 10.00% of the stock is owned by corporate insiders.

Perimeter Solutions Price Performance

Shares of PRM opened at $22.21 on Tuesday. The company has a market cap of $3.25 billion, a P/E ratio of 51.65 and a beta of 1.98. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $24.85. The firm’s 50 day moving average price is $21.44 and its 200 day moving average price is $16.02.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.11. The company had revenue of $162.64 million for the quarter, compared to the consensus estimate of $108.91 million. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%. On average, research analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

About Perimeter Solutions

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.