Charles Schwab Investment Management Inc. Sells 35,801 Shares of Perimeter Solutions, SA $PRM

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Perimeter Solutions by 2.8%, now owning approximately 0.84% of the company, valued at $12.6 million.
• Major shareholder Windacre Partnership Master Fu purchased 254,600 shares amounting to over $3.5 million, increasing their ownership by 1.18%.
• Recent analyst updates include a downgrade from Wall Street Zen from a "buy" to a "hold" rating, while UBS increased their price target from $15.00 to $20.00.

Charles Schwab Investment Management Inc. lowered its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,252,024 shares of the company's stock after selling 35,801 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.84% of Perimeter Solutions worth $12,608,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Comerica Bank acquired a new stake in Perimeter Solutions in the fourth quarter valued at about $38,000. Harbor Investment Advisory LLC lifted its stake in shares of Perimeter Solutions by 25.6% in the first 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 position in shares of Perimeter Solutions in the first quarter worth approximately $101,000. Gilbert & Cook Inc. acquired a new position in shares of Perimeter Solutions in the first quarter worth approximately $104,000. Finally, Quantinno Capital Management LP bought a new stake in Perimeter Solutions in the fourth quarter worth approximately $136,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Price Performance

Shares of Perimeter Solutions stock traded up $0.35 during trading on Friday, hitting $22.37. 1,303,945 shares of the stock traded hands, compared to its average volume of 1,350,080. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 52.03 and a beta of 1.96. The firm's fifty day moving average is $16.96 and its 200-day moving average is $12.95. Perimeter Solutions, SA has a 52 week low of $8.76 and a 52 week high of $22.50.

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

Insider Transactions at Perimeter Solutions

In related news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of Perimeter Solutions stock in a transaction that occurred on Friday, June 27th. The shares were acquired at an average cost of $13.98 per share, for a total transaction of $3,559,308.00. Following the transaction, the insider directly owned 21,854,600 shares in the company, valued at $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PRM shares. Morgan Stanley lifted their target price on Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday. Wall Street Zen downgraded 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 Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Perimeter Solutions has an average rating of "Buy" and a consensus price target of $22.50.

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.