Catawba River Capital Buys 13,840 Shares of Perimeter Solutions, SA $PRM

Key Points

• Catawba River Capital increased its stake in Perimeter Solutions, SA by 2.3%, acquiring an additional 13,840 shares, making Perimeter Solutions its 10th largest holding.
• Recent analyst reports have boosted Perimeter Solutions’ target price to $25.00, with Morgan Stanley and UBS Group giving it an "overweight" and "buy" rating respectively.
• Insider transactions revealed that Director Vivek Raj and another insider sold a combined 365,000 shares of the company's stock, totaling over $8 million, indicating potential shifts in management confidence.

Catawba River Capital raised its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 616,895 shares of the company's stock after purchasing an additional 13,840 shares during the quarter. Perimeter Solutions comprises approximately 4.4% of Catawba River Capital's holdings, making the stock its 10th biggest holding. Catawba River Capital owned approximately 0.42% of Perimeter Solutions worth $8,587,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PRM. Comerica Bank lifted its holdings in shares of Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock valued at $43,000 after acquiring an additional 1,324 shares in the last quarter. Templeton & Phillips Capital Management LLC lifted its holdings in shares of Perimeter Solutions by 1.8% during the 1st quarter. Templeton & Phillips Capital Management LLC now owns 188,999 shares of the company's stock valued at $1,903,000 after acquiring an additional 3,383 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Perimeter Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company's stock valued at $801,000 after acquiring an additional 3,428 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Perimeter Solutions by 0.7% during the 2nd quarter. Nordea Investment Management AB now owns 538,367 shares of the company's stock valued at $7,661,000 after acquiring an additional 3,844 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Perimeter Solutions by 16.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 30,700 shares of the company's stock valued at $427,000 after acquiring an additional 4,300 shares in the last quarter. Institutional investors and hedge funds own 89.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PRM shares. Morgan Stanley lifted their target price on shares of Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Weiss Ratings restated a "hold (c-)" rating on shares of Perimeter Solutions in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, UBS Group boosted their price objective on shares of Perimeter Solutions from $21.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Perimeter Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $25.00.

Insider Transactions at Perimeter Solutions

In other news, Director Vivek Raj sold 25,000 shares of the business's stock in a transaction dated 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 sale, the director owned 121,701 shares of the company's stock, valued at approximately $2,732,187.45. The trade was a 17.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Emery sold 300,000 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $22.28, for a total transaction of $6,684,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 365,000 shares of company stock valued at $8,127,250. Insiders own 10.00% of the company's stock.

Perimeter Solutions Stock Performance

Shares of PRM stock opened at $21.99 on Friday. Perimeter Solutions, SA has a 12 month low of $8.76 and a 12 month high of $23.79. 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 firm has a market capitalization of $3.22 billion, a P/E ratio of 51.14 and a beta of 1.98. The company's fifty day moving average price is $21.26 and its two-hundred day moving average price is $15.77.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its 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 net margin of 13.05% and a negative return on equity of 1.11%. On average, research analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

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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