Primo Brands Corporation (NYSE:PRMB) Plans Quarterly Dividend of $0.12

Key Points

• Primo Brands declared a quarterly dividend of $0.12 per share, payable December 4 to shareholders of record November 24. The annualized payout is $0.48 per share, a yield of about 2.2%.
• The company reported quarterly EPS of $0.43, beating the $0.42 estimate, while revenue of $1.82 billion also topped forecasts and rose 3.1% year over year.
• CEO Eric Foss bought 84,000 shares for approximately $2.0 million, increasing his stake by 17.15%.

Primo Brands Corporation (NYSE:PRMB - Get Free Report) announced a quarterly dividend on Thursday, November 5th. Investors of record on Tuesday, November 24th will be paid a dividend of $0.12 per share on Friday, December 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, November 24th.

Primo Brands Stock Performance

NYSE:PRMB traded up $1.04 during midday trading on Thursday, reaching $22.06. 10,597,115 shares of the company traded hands, compared to its average volume of 4,667,027. Primo Brands has a twelve month low of $14.36 and a twelve month high of $26.21. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 84.83, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.05 and a quick ratio of 0.86. The company has a fifty day moving average price of $20.33 and a 200 day moving average price of $21.42.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the company earned $0.41 earnings per share. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts expect that Primo Brands will post 1.27 EPS for the current fiscal year.

Insider Buying and Selling at Primo Brands

In related news, CEO Eric Foss acquired 84,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $23.80 per share, for a total transaction of $1,999,200.00. Following the completion of the acquisition, the chief executive officer directly owned 573,806 shares of the company's stock, valued at approximately $13,656,582.80. The trade was a 17.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 32.90% of the company's stock.

Institutional Investors Weigh In On Primo Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC grew its position in Primo Brands by 15.1% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 201,571 shares of the company's stock worth $3,840,000 after buying an additional 26,436 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of Primo Brands by 16.3% in the third quarter. New York Life Investment Management LLC now owns 36,449 shares of the company's stock valued at $694,000 after buying an additional 5,114 shares in the last quarter. J. Derek Lewis & Associates Inc. lifted its position in shares of Primo Brands by 30.4% during the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 67,000 shares of the company's stock valued at $1,276,000 after acquiring an additional 15,600 shares during the last quarter. Ethic Inc. lifted its position in shares of Primo Brands by 10.1% during the 3rd quarter. Ethic Inc. now owns 19,192 shares of the company's stock valued at $366,000 after acquiring an additional 1,759 shares during the last quarter. Finally, CenterBook Partners LP bought a new stake in shares of Primo Brands during the 3rd quarter worth $7,336,000. Institutional investors own 87.71% of the company's stock.

About Primo Brands

Primo Brands Corporation is a beverage company focused on providing water and hydration products across North America. The company offers bottled water, water dispensers, refill services, filtration products and other beverage options for households, businesses and retail customers.

Its portfolio includes well-known regional and national water brands such as Poland Spring, Deer Park, Ice Mountain, Arrowhead, Ozarka, Zephyrhills, Pure Life and Primo. Products are distributed through retail stores, direct delivery, e-commerce and workplace and residential water services.

Primo Brands was created through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.

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