Argos Wealth Advisors LLC Invests $961,000 in Perimeter Solutions, SA $PRM

Argos Wealth Advisors LLC bought a new position in shares of Perimeter Solutions, SA (NYSE:PRM) in the fourth quarter, Holdings Channel reports. The fund bought 34,900 shares of the company’s stock, valued at approximately $961,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRM. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Perimeter Solutions by 50.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,132,167 shares of the company’s stock worth $47,739,000 after buying an additional 714,816 shares in the last quarter. Millennium Management LLC bought a new position in Perimeter Solutions in the third quarter valued at about $14,612,000. Bank of America Corp DE grew its position in Perimeter Solutions by 35.8% in the second quarter. Bank of America Corp DE now owns 2,274,018 shares of the company’s stock valued at $31,654,000 after acquiring an additional 599,972 shares during the last quarter. Skye Global Management LP grew its position in Perimeter Solutions by 485.2% in the second quarter. Skye Global Management LP now owns 614,500 shares of the company’s stock valued at $8,554,000 after acquiring an additional 509,500 shares during the last quarter. Finally, Credit Agricole S A bought a new position in Perimeter Solutions in the third quarter valued at about $9,338,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

Perimeter Solutions Price Performance

Shares of PRM opened at $32.09 on Wednesday. Perimeter Solutions, SA has a 52-week low of $11.55 and a 52-week high of $34.29. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.42 and a current ratio of 3.09. The business’s 50 day moving average price is $25.83 and its two-hundred day moving average price is $26.43. The firm has a market cap of $5.23 billion, a PE ratio of -23.95 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results 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. 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 analyst estimates of $121.80 million. On average, equities analysts anticipate that Perimeter Solutions, SA will post 1.47 EPS for the current year.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, CFO Kyle Sable sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $31.52, for a total value of $4,728,000.00. Following the transaction, the chief financial officer directly owned 20,000 shares of the company’s stock, valued at approximately $630,400. The trade was a 88.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William N. Thorndike, Jr. sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $23.37, for a total value of $2,921,250.00. Following the transaction, the director directly owned 8,735,656 shares in the company, valued at $204,152,280.72. The trade was a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 796,923 shares of company stock valued at $21,854,961. 13.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PRM has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley lifted 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. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday. Finally, Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Perimeter Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.