AQR Capital Management LLC Has $5.41 Million Stock Position in Perimeter Solutions, SA $PRM

Key Points

• AQR Capital Management reduced its stake in Perimeter Solutions, SA by 15.6%, holding 536,865 shares worth approximately $5.41 million as of the end of the first quarter.
• Perimeter Solutions reported earnings of $0.39 per share, surpassing analyst estimates of $0.28, with revenues of $162.64 million for the quarter.
• Equities analysts have set new price targets for Perimeter Solutions, with Morgan Stanley raising its target from $17.00 to $25.00 and maintaining an "overweight" rating.

AQR Capital Management LLC decreased its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 15.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 536,865 shares of the company's stock after selling 99,279 shares during the quarter. AQR Capital Management LLC owned about 0.36% of Perimeter Solutions worth $5,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System bought a new position in Perimeter Solutions during the first quarter worth about $123,000. Teacher Retirement System of Texas grew its holdings in Perimeter Solutions by 21.0% during the first quarter. Teacher Retirement System of Texas now owns 249,091 shares of the company's stock worth $2,508,000 after purchasing an additional 43,247 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Perimeter Solutions during the first quarter worth about $3,479,000. SG Americas Securities LLC grew its holdings in Perimeter Solutions by 59.7% during the first quarter. SG Americas Securities LLC now owns 93,811 shares of the company's stock worth $945,000 after purchasing an additional 35,078 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in Perimeter Solutions by 15.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 54,573 shares of the company's stock worth $550,000 after purchasing an additional 7,347 shares during the period. Institutional investors own 89.93% of the company's stock.

Perimeter Solutions Stock Up 0.3%

NYSE PRM opened at $22.26 on Friday. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $23.79. The company has a 50 day moving average of $18.55 and a 200-day moving average of $13.71. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 51.77 and a beta of 2.00.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.11. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. The company had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. On average, equities research analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, UBS Group lifted their price target on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $22.50.

Insider Activity

In other Perimeter Solutions news, insider Jeffrey Emery sold 300,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $22.28, for a total transaction of $6,684,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kyle Sable sold 40,000 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $22.05, for a total transaction of $882,000.00. The disclosure for this sale can be found here. 10.00% of the stock is owned by company insiders.

Perimeter Solutions Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.

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