Primo Brands Corporation (NYSE:PRMB) Raises Dividend to $0.12 Per Share

Primo Brands Corporation (NYSE:PRMB) declared a quarterly dividend on Thursday, February 19th. Shareholders of record on Friday, March 6th will be given a dividend of 0.12 per share on Monday, March 23rd. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, March 6th. This is a 20.0% increase from Primo Brands’s previous quarterly dividend of $0.10.

Primo Brands has increased its dividend by an average of 0.2%per year over the last three years.

Primo Brands Stock Performance

Shares of NYSE PRMB traded up $0.16 during trading hours on Thursday, reaching $18.70. 4,719,810 shares of the stock were exchanged, compared to its average volume of 6,114,373. Primo Brands has a 52 week low of $14.36 and a 52 week high of $35.85. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.86 and a current ratio of 1.02. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of -60.32, a P/E/G ratio of 0.61 and a beta of 0.63. The stock’s fifty day simple moving average is $17.85 and its 200 day simple moving average is $20.11.

Institutional Investors Weigh In On Primo Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its position in shares of Primo Brands by 13.5% in the fourth quarter. Invesco Ltd. now owns 328,023 shares of the company’s stock valued at $5,363,000 after acquiring an additional 39,015 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Primo Brands by 189.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 14,454,637 shares of the company’s stock valued at $236,333,000 after purchasing an additional 9,461,990 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Primo Brands during the 4th quarter valued at about $2,614,000. SummitTX Capital L.P. purchased a new position in shares of Primo Brands during the fourth quarter worth approximately $399,000. Finally, Quadrature Capital Ltd bought a new stake in Primo Brands in the fourth quarter worth $1,388,000. Institutional investors own 87.71% of the company’s stock.

About Primo Brands

Primo Brands (NYSE: PRMB) is a consumer packaged beverage company that was established as an independent entity following a corporate spin‐off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.

Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.