Perimeter Solutions (NYSE:PRM) CFO Sells $1,639,278.60 in Stock

Perimeter Solutions, SA (NYSE:PRM) CFO Kyle Sable sold 49,540 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total transaction of $1,639,278.60. Following the completion of the transaction, the chief financial officer owned 49,540 shares in the company, valued at approximately $1,639,278.60. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kyle Sable also recently made the following trade(s):

• On Friday, May 8th, Kyle Sable sold 150,000 shares of Perimeter Solutions stock. The shares were sold at an average price of $31.52, for a total transaction of $4,728,000.00.
• On Monday, May 11th, Kyle Sable sold 20,460 shares of Perimeter Solutions stock. The shares were sold at an average price of $32.89, for a total transaction of $672,929.40.
• On Tuesday, May 12th, Kyle Sable sold 30,000 shares of Perimeter Solutions stock. The shares were sold at an average price of $31.75, for a total transaction of $952,500.00.

Perimeter Solutions Trading Down 2.3%

Perimeter Solutions stock traded down $0.79 during trading hours on Friday, hitting $33.21. The company had a trading volume of 1,479,005 shares, compared to its average volume of 1,118,056. The firm has a market cap of $5.42 billion, a P/E ratio of -24.78 and a beta of 1.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.42 and a current ratio of 3.09. Perimeter Solutions, SA has a 1 year low of $11.55 and a 1 year high of $34.89. The company has a 50-day moving average price of $26.23 and a two-hundred day moving average price of $26.60.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $125.07 million during 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%. On average, sell-side analysts anticipate that Perimeter Solutions, SA will post 1.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRM has been the subject of several research reports. Wall Street Zen raised shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. UBS Group boosted their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, Morgan Stanley upped their target price on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.00.

Institutional Investors Weigh In On Perimeter Solutions

A number of institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp purchased a new stake in shares of Perimeter Solutions in the third quarter valued at approximately $27,000. Arax Advisory Partners increased its holdings in Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after acquiring an additional 389 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Perimeter Solutions during the second quarter valued at $42,000. Finally, Comerica Bank grew its position in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the period. 89.93% of the stock is currently owned by institutional investors and hedge funds.

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.