Asset Management One Co. Ltd. Takes Position in Perimeter Solutions, SA $PRM

Key Points

• Asset Management One bought a new Q4 stake of 48,959 shares in Perimeter Solutions (NYSE:PRM), valued at about $1.375 million, while institutional investors own roughly 89.9% of the stock.
• Insider selling: Director William N. Thorndike Jr. sold 100,000 shares on March 10 at an average $23.63, and insiders have sold 450,000 shares (~$10.72M) in the past three months, though insiders still hold about 10% of the company.
• Analyst views are mixed—UBS and Zacks upgraded PRM while Weiss downgraded it—producing a MarketBeat consensus of a Moderate Buy with a $32.50 target price.

Asset Management One Co. Ltd. acquired a new stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 48,959 shares of the company's stock, valued at approximately $1,375,000.

Several other hedge funds also recently modified their holdings of PRM. Jones Financial Companies Lllp bought a new stake in shares of Perimeter Solutions in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Perimeter Solutions in the second quarter valued at approximately $42,000. Comerica Bank boosted its position in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company's stock valued at $43,000 after acquiring an additional 1,324 shares during the period. TD Private Client Wealth LLC boosted its position in shares of Perimeter Solutions by 1,450.0% in the third quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company's stock valued at $47,000 after acquiring an additional 1,972 shares during the period. Finally, Ancora Advisors LLC boosted its position in shares of Perimeter Solutions by 219.0% in the third quarter. Ancora Advisors LLC now owns 3,190 shares of the company's stock valued at $71,000 after acquiring an additional 2,190 shares during the period. 89.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Perimeter Solutions

In other news, Director William N. Thorndike, Jr. sold 100,000 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $23.63, for a total value of $2,363,000.00. Following the completion of the sale, the director directly owned 8,635,656 shares in the company, valued at approximately $204,060,551.28. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 450,000 shares of company stock valued at $10,722,750 in the last three months. Company insiders own 10.00% of the company's stock.

Analyst Upgrades and Downgrades

PRM has been the subject of several research reports. UBS Group raised Perimeter Solutions from a "neutral" rating to a "buy" rating and raised their target price for the stock from $26.00 to $30.00 in a research report on Tuesday, March 31st. Zacks Research raised Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings cut Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.

Perimeter Solutions Stock Up 0.8%

Shares of NYSE PRM opened at $30.91 on Friday. The stock has a market cap of $5.04 billion, a PE ratio of -21.76 and a beta of 1.90. The business has a fifty day moving average of $24.78 and a two-hundred day moving average of $25.70. Perimeter Solutions, SA has a 52-week low of $9.98 and a 52-week high of $31.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.42 and a current ratio of 3.22.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Friday, February 27th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The company had revenue of $102.75 million during the quarter, compared to analyst estimates of $94.05 million. As a group, equities research analysts expect that Perimeter Solutions, SA will post 1.47 earnings per share for the current fiscal year.

About Perimeter Solutions

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.

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