Perimeter Solutions (NYSE:PRM) CEO Sells $2,926,912.84 in Stock

Perimeter Solutions, SA (NYSE:PRM) CEO Haitham Khouri sold 91,724 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $31.91, for a total transaction of $2,926,912.84. Following the completion of the sale, the chief executive officer owned 1,992,126 shares of the company’s stock, valued at approximately $63,568,740.66. The trade was a 4.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Haitham Khouri also recently made the following trade(s):

• On Friday, May 22nd, Haitham Khouri sold 117,511 shares of Perimeter Solutions stock. The stock was sold at an average price of $31.19, for a total transaction of $3,665,168.09.
• On Wednesday, May 20th, Haitham Khouri sold 20,300 shares of Perimeter Solutions stock. The stock was sold at an average price of $34.09, for a total transaction of $692,027.00.

Perimeter Solutions Stock Performance

Shares of NYSE:PRM traded down $0.26 during midday trading on Friday, reaching $31.15. The company had a trading volume of 1,266,852 shares, compared to its average volume of 1,124,907. The company’s 50 day moving average price is $27.15 and its 200 day moving average price is $26.96. 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 has a market cap of $5.08 billion, a P/E ratio of -23.24 and a beta of 1.93. Perimeter Solutions, SA has a 52-week low of $11.58 and a 52-week high of $34.89.

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

Analyst Ratings Changes

Several research firms have commented on PRM. UBS Group upped 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. Wall Street Zen raised shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Morgan Stanley upped their price objective 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, Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, two 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 currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Perimeter Solutions by 4.8% in the first quarter. Bank of America Corp DE now owns 1,738,095 shares of the company’s stock worth $42,444,000 after purchasing an additional 79,083 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Perimeter Solutions by 8.6% in the first quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock worth $97,863,000 after purchasing an additional 315,763 shares during the last quarter. Amundi bought a new position in shares of Perimeter Solutions in the first quarter worth approximately $482,000. EverSource Wealth Advisors LLC increased its position in shares of Perimeter Solutions by 20.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company’s stock worth $56,000 after purchasing an additional 383 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Perimeter Solutions by 24.2% in the first quarter. California State Teachers Retirement System now owns 164,346 shares of the company’s stock worth $4,013,000 after purchasing an additional 32,073 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors.

Perimeter Solutions Company 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.