Perimeter Solutions (NYSE:PRM) Major Shareholder Sells $63,562,500.00 in Stock

Perimeter Solutions, SA (NYSE:PRM) major shareholder Windacre Partnership Llc sold 1,875,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the sale, the insider directly owned 16,148,621 shares of the company’s stock, valued at $547,438,251.90. This represents a 10.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Windacre Partnership Llc also recently made the following trade(s):

• On Monday, June 29th, Windacre Partnership Llc sold 437,500 shares of Perimeter Solutions stock. The stock was sold at an average price of $33.00, for a total value of $14,437,500.00.
• On Friday, June 26th, Windacre Partnership Llc sold 3,393,479 shares of Perimeter Solutions stock. The shares were sold at an average price of $34.66, for a total value of $117,617,982.14.

Perimeter Solutions Stock Performance

Shares of PRM stock traded up $3.03 on Tuesday, reaching $35.76. The stock had a trading volume of 2,248,133 shares, compared to its average volume of 1,947,922. The firm’s 50-day moving average is $32.69 and its two-hundred day moving average is $28.38. Perimeter Solutions, SA has a 12 month low of $13.78 and a 12 month high of $38.17. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of -26.68 and a beta of 1.92. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping 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 firm had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $121.80 million. On average, research analysts expect that Perimeter Solutions, SA will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Perimeter Solutions

Institutional investors have recently made changes to their positions in the stock. Arax Advisory Partners boosted its holdings in shares of Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after purchasing an additional 389 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Perimeter Solutions during the 2nd quarter worth about $42,000. Comerica Bank lifted its holdings in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Perimeter Solutions by 55.7% in the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock worth $69,000 after purchasing an additional 899 shares during the period. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Analyst Upgrades and Downgrades

PRM has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. CJS Securities assumed coverage on Perimeter Solutions in a research report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price objective for the company. UBS Group lifted their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Morgan Stanley increased their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $40.67.

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.