Perimeter Solutions, SA $PRM Shares Sold by Weitz Investment Management Inc.

Weitz Investment Management Inc. trimmed its stake in shares of Perimeter Solutions, SA (NYSE:PRM) by 31.6% in the 4th quarter, HoldingsChannel reports. The firm owned 509,400 shares of the company’s stock after selling 235,572 shares during the period. Weitz Investment Management Inc.’s holdings in Perimeter Solutions were worth $14,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Perimeter Solutions by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company’s stock worth $235,951,000 after purchasing an additional 156,788 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Perimeter Solutions by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock worth $115,188,000 after purchasing an additional 221,290 shares in the last quarter. Geode Capital Management LLC grew its stake in Perimeter Solutions by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock worth $94,218,000 after purchasing an additional 122,435 shares in the last quarter. Bank of America Corp DE grew its stake in Perimeter Solutions by 35.8% during the 2nd quarter. Bank of America Corp DE now owns 2,274,018 shares of the company’s stock worth $31,654,000 after purchasing an additional 599,972 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Perimeter Solutions by 50.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,132,167 shares of the company’s stock worth $47,739,000 after purchasing an additional 714,816 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jeffrey Emery sold 53,537 shares of Perimeter Solutions stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $33.45, for a total value of $1,790,812.65. Following the sale, the insider owned 53,537 shares of the company’s stock, valued at $1,790,812.65. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the completion of the sale, the chief executive officer directly owned 1,874,615 shares in the company, valued at $58,469,241.85. This represents a 5.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 679,535 shares of company stock valued at $21,846,411. Insiders own 13.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings raised Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. CJS Securities assumed coverage on Perimeter Solutions in a research report on Tuesday. They set a “market outperform” rating and a $48.00 price objective for the company. Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, UBS Group upped their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Perimeter Solutions has an average rating of “Moderate Buy” and a consensus target price of $40.67.

Perimeter Solutions Stock Up 3.9%

Perimeter Solutions stock opened at $35.14 on Friday. Perimeter Solutions, SA has a fifty-two week low of $13.05 and a fifty-two week high of $35.22. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. The company has a market capitalization of $5.73 billion, a P/E ratio of -26.22 and a beta of 1.92. The stock has a 50-day simple moving average of $30.06 and a 200-day simple moving average of $27.64.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $125.07 million during the quarter, compared to the consensus estimate of $121.80 million. Equities research analysts expect that Perimeter Solutions, SA will post 1.78 earnings per share for the current year.

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.