Federated Hermes Inc. Has $6.68 Million Position in Perimeter Solutions, SA $PRM

Federated Hermes Inc. grew its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 52,387.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,130 shares of the company’s stock after buying an additional 297,562 shares during the quarter. Federated Hermes Inc. owned approximately 0.20% of Perimeter Solutions worth $6,675,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new stake in Perimeter Solutions during the second quarter worth about $42,000. Comerica Bank increased its position in shares of Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Perimeter Solutions by 161.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock worth $43,000 after purchasing an additional 1,928 shares in the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Perimeter Solutions during the 3rd quarter worth approximately $45,000. Finally, TD Private Client Wealth LLC boosted 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 buying an additional 1,972 shares during the last quarter. Institutional investors own 89.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PRM. Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a research note on Monday, December 15th. Zacks Research cut Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Thursday, January 22nd. Finally, UBS Group cut Perimeter Solutions from a “buy” rating to a “neutral” rating and raised their price objective for the company from $30.00 to $31.00 in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Insider Transactions at Perimeter Solutions

In related news, CFO Kyle Sable sold 100,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $28.47, for a total value of $2,847,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by company insiders.

Perimeter Solutions Trading Up 0.1%

Shares of PRM stock opened at $26.18 on Tuesday. Perimeter Solutions, SA has a 12-month low of $8.76 and a 12-month high of $29.88. The company has a market capitalization of $3.87 billion, a PE ratio of 62.33 and a beta of 1.97. The firm has a 50 day moving average price of $27.96 and a two-hundred day moving average price of $23.65. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61.

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.