Vanguard Group Inc. Lowers Stock Position in Perimeter Solutions, SA $PRM

Vanguard Group Inc. decreased its holdings in Perimeter Solutions, SA (NYSE:PRM) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,413,911 shares of the company’s stock after selling 124,529 shares during the quarter. Vanguard Group Inc. owned about 5.69% of Perimeter Solutions worth $188,387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRM. Principal Financial Group Inc. raised its stake in Perimeter Solutions by 0.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,012,789 shares of the company’s stock valued at $246,577,000 after acquiring an additional 57,244 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Perimeter Solutions by 3.1% in the second quarter. Geode Capital Management LLC now owns 3,292,279 shares of the company’s stock valued at $45,834,000 after purchasing an additional 98,953 shares during the period. Bank of America Corp DE raised its stake in shares of Perimeter Solutions by 35.8% during the second 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 during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Perimeter Solutions by 9.3% during the second quarter. Primecap Management Co. CA now owns 2,097,551 shares of the company’s stock worth $29,198,000 after purchasing an additional 178,271 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Perimeter Solutions by 57.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,417,351 shares of the company’s stock valued at $19,730,000 after buying an additional 518,875 shares during the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Stock Performance

Shares of PRM stock opened at $23.27 on Tuesday. The stock has a fifty day moving average price of $27.19 and a 200 day moving average price of $24.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. The stock has a market cap of $3.44 billion, a PE ratio of -16.39 and a beta of 1.96. Perimeter Solutions, SA has a 1 year low of $8.76 and a 1 year high of $29.88.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.68% and a negative net margin of 31.61%.The business had revenue of $102.75 million during the quarter, compared to the consensus estimate of $94.05 million. Sell-side analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kyle Sable sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $28.47, for a total transaction of $2,847,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

PRM has been the topic of a number of recent analyst reports. Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a research note on Monday, December 15th. UBS Group downgraded Perimeter Solutions from a “buy” rating to a “neutral” rating and increased their target price for the stock from $30.00 to $31.00 in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Perimeter Solutions in a report on Thursday, January 22nd. Finally, Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.00.

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.