East Coast Asset Management LLC. trimmed its holdings in Perimeter Solutions, SA (NYSE:PRM – Free Report) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,366,380 shares of the company’s stock after selling 207,593 shares during the period. Perimeter Solutions comprises approximately 11.1% of East Coast Asset Management LLC.’s holdings, making the stock its 2nd largest holding. East Coast Asset Management LLC.’s holdings in Perimeter Solutions were worth $37,616,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Abacus Wealth Partners LLC bought a new stake in shares of Perimeter Solutions in the 4th quarter valued at approximately $523,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Perimeter Solutions by 239.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock valued at $1,524,000 after acquiring an additional 38,703 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Perimeter Solutions by 395.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock valued at $3,244,000 after acquiring an additional 115,653 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Perimeter Solutions by 197.2% in the 4th quarter. SG Americas Securities LLC now owns 230,940 shares of the company’s stock valued at $6,358,000 after acquiring an additional 153,228 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Perimeter Solutions by 1,645.6% in the 3rd quarter. Quantbot Technologies LP now owns 55,876 shares of the company’s stock valued at $1,251,000 after acquiring an additional 52,675 shares during the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. CJS Securities assumed coverage on Perimeter Solutions in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price target for the company. UBS Group boosted their price target on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Morgan Stanley boosted their price target on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings upgraded Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.67.
Perimeter Solutions Price Performance
Shares of PRM opened at $35.59 on Thursday. The company has a market cap of $5.81 billion, a P/E ratio of -26.56 and a beta of 1.92. The stock has a fifty day moving average price of $30.89 and a 200 day moving average price of $27.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. Perimeter Solutions, SA has a 12 month low of $13.06 and a 12 month high of $36.95.
Perimeter Solutions (NYSE:PRM – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $125.07 million during the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. On average, research analysts forecast that Perimeter Solutions, SA will post 1.78 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Jeffrey Emery sold 99,963 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $32.92, for a total transaction of $3,290,781.96. Following the completion of the transaction, the insider directly owned 46,500 shares in the company, valued at $1,530,780. This represents a 68.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of the company’s 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 owned 1,874,615 shares of the company’s stock, valued at approximately $58,469,241.85. The trade was a 5.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 679,535 shares of company stock worth $21,846,411 in the last three months. 13.10% of the stock is owned by insiders.
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.
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