Perimeter Solutions (NYSE:PRM) Stock Price Down 5% – Time to Sell?

Shares of Perimeter Solutions, SA (NYSE:PRM) dropped 5% during mid-day trading on Tuesday . The stock traded as low as $30.18 and last traded at $30.0450. Approximately 454,498 shares were traded during trading, a decline of 65% from the average session volume of 1,295,026 shares. The stock had previously closed at $31.63.

Analysts Set New Price Targets

PRM has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. reduced their price target on shares of Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. CJS Securities began coverage on Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 target price on the stock. Zacks Research lowered shares of Perimeter Solutions from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.75.

Perimeter Solutions Price Performance

The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of -12.70 and a beta of 1.90. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19. The stock’s 50 day moving average price is $32.60 and its two-hundred day moving average price is $30.81.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%.The business had revenue of $213.81 million for the quarter, compared to analyst estimates of $216.89 million. Analysts anticipate that Perimeter Solutions, SA will post 1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Perimeter Solutions news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $34.66, for a total transaction of $117,617,982.14. Following the completion of the sale, the insider directly owned 18,461,121 shares in the company, valued at $639,862,453.86. This represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 5,705,979 shares of company stock worth $195,617,982. 13.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Perimeter Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in Perimeter Solutions by 15.0% during the first quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after buying an additional 1,634,158 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Perimeter Solutions by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,763,465 shares of the company’s stock valued at $116,286,000 after buying an additional 27,643 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Perimeter Solutions by 8.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock worth $97,863,000 after acquiring an additional 315,763 shares during the period. Geode Capital Management LLC raised its position in Perimeter Solutions by 3.7% in the fourth 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. Finally, Senator Investment Group LP grew its stake in shares of Perimeter Solutions by 11.8% in the 4th quarter. Senator Investment Group LP now owns 2,348,000 shares of the company’s stock valued at $64,640,000 after purchasing an additional 248,000 shares during the period. Institutional investors and hedge funds own 89.93% of the company’s stock.

About Perimeter Solutions

Perimeter Solutions, Inc is a specialty chemicals and fire-safety company that develops, manufactures and supplies products used in wildfire control, industrial fire protection and chemical applications. The company serves customers across North America and international markets through a portfolio of fire-safety and specialty chemical products.

Its fire-safety business provides firefighting foams, fire retardants and related solutions for wildland firefighting, aviation, military, industrial and municipal applications.