Perimeter Solutions, SA $PRM Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 3.7% during the 4th quarter, Holdings Channel reports. The fund owned 3,421,820 shares of the company’s stock after purchasing an additional 122,435 shares during the period. Geode Capital Management LLC’s holdings in Perimeter Solutions were worth $94,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new position in shares of Perimeter Solutions during the 3rd quarter valued at $27,000. Larson Financial Group LLC boosted its stake in shares of Perimeter Solutions by 55.7% during the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock worth $69,000 after acquiring an additional 899 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Perimeter Solutions during the 2nd quarter worth $42,000. Ancora Advisors LLC lifted its holdings in shares of Perimeter Solutions by 219.0% in the third quarter. Ancora Advisors LLC now owns 3,190 shares of the company’s stock valued at $71,000 after purchasing an additional 2,190 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Perimeter Solutions by 321.2% in the third quarter. Smartleaf Asset Management LLC now owns 3,618 shares of the company’s stock valued at $77,000 after purchasing an additional 2,759 shares in the last quarter. Institutional investors own 89.93% of the company’s stock.

Wall Street Analyst Weigh In

PRM has been the subject of a number of research analyst reports. Weiss Ratings upgraded Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Morgan Stanley boosted their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. 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, UBS Group boosted their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perimeter Solutions Stock Down 1.2%

NYSE PRM opened at $30.15 on Friday. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average is $29.17 and its two-hundred day moving average is $27.42. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of -22.50 and a beta of 1.92. Perimeter Solutions, SA has a 1-year low of $12.69 and a 1-year high of $34.89.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The company had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Equities analysts forecast that Perimeter Solutions, SA will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kyle Sable sold 150,000 shares of Perimeter Solutions stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $31.52, for a total transaction of $4,728,000.00. Following the completion of the transaction, the chief financial officer directly owned 20,000 shares of the company’s stock, valued at $630,400. This trade represents a 88.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $31.19, for a total transaction of $3,665,168.09. Following the transaction, the chief executive officer directly owned 1,874,615 shares of the company’s stock, valued at $58,469,241.85. This represents a 5.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 904,535 shares of company stock valued at $27,130,661. Company insiders own 13.10% of the company’s stock.

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.