Perimeter Solutions, SA $PRM Shares Sold by AQR Capital Management LLC

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 lowered its holdings in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 15.6% during the first quarter, according to the company in its most recent filing with the SEC. 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 reporting period.

Other hedge funds have also made changes to their positions in the company. Comerica Bank acquired a new stake in shares of Perimeter Solutions in the 4th quarter valued at about $38,000. Harbor Investment Advisory LLC lifted its position in Perimeter Solutions by 25.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock worth $94,000 after acquiring an additional 1,899 shares during the period. Xponance Inc. acquired a new stake in Perimeter Solutions during the 1st quarter worth approximately $101,000. Gilbert & Cook Inc. acquired a new stake in Perimeter Solutions during the 1st quarter worth approximately $104,000. Finally, New York State Teachers Retirement System acquired a new stake in Perimeter Solutions during the 1st quarter worth approximately $123,000. Hedge funds and other institutional investors own 89.93% of the company's stock.

Insider Transactions at Perimeter Solutions

In related news, insider Jeffrey Emery sold 300,000 shares of Perimeter Solutions stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $22.28, for a total value of $6,684,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vivek Raj sold 25,000 shares of Perimeter Solutions stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $22.45, for a total value of $561,250.00. Following the completion of the transaction, the director owned 121,701 shares in the company, valued at $2,732,187.45. The trade was a 17.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 365,000 shares of company stock worth $8,127,250 over the last ninety days. 10.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PRM. Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley raised their price objective on Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Finally, UBS Group raised their price objective on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $22.50.

Perimeter Solutions Price Performance

Perimeter Solutions stock traded up $0.46 during mid-day trading on Thursday, hitting $22.05. 753,453 shares of the company were exchanged, compared to its average volume of 1,349,326. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.04 and a quick ratio of 2.60. The business's 50 day simple moving average is $19.05 and its two-hundred day simple moving average is $14.03. The company has a market capitalization of $3.23 billion, a P/E ratio of 51.28 and a beta of 2.00. Perimeter Solutions, SA has a 12-month low of $8.76 and a 12-month high of $23.79.

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, topping the consensus estimate of $0.28 by $0.11. The company had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%. Analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

About Perimeter Solutions

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.