Corient Private Wealth LLC Trims Stock Holdings in Perimeter Solutions, SA $PRM

Key Points

• Corient Private Wealth LLC cut its stake in Perimeter Solutions by 17.7% in Q4, selling 437,113 shares and ending with 2,034,505 shares valued at about $55.9 million.
• Perimeter Solutions reported better-than-expected quarterly results, with EPS of $0.06 versus the $0.02 estimate and revenue of $125.07 million, topping analyst expectations.
• Analysts remain constructive on the stock: several firms raised price targets or ratings, and the consensus rating is “Buy” with an average price target of $40.67.

Corient Private Wealth LLC decreased its holdings in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,034,505 shares of the company's stock after selling 437,113 shares during the quarter. Corient Private Wealth LLC owned about 1.36% of Perimeter Solutions worth $55,940,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Arax Advisory Partners raised its position in Perimeter Solutions by 122.8% during the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company's stock worth $29,000 after buying an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company's stock valued at $31,000 after purchasing an additional 389 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Perimeter Solutions in the 3rd quarter worth approximately $27,000. Larson Financial Group LLC boosted its position in Perimeter Solutions by 55.7% during the fourth quarter. Larson Financial Group LLC now owns 2,514 shares of the company's stock worth $69,000 after purchasing an additional 899 shares in the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions in the second quarter valued at $42,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Trading Up 0.2%

PRM opened at $37.86 on Friday. The firm's 50 day moving average is $31.41 and its 200-day moving average is $28.02. The firm has a market capitalization of $6.18 billion, a P/E ratio of -28.26 and a beta of 1.92. Perimeter Solutions, SA has a 52-week low of $13.16 and a 52-week high of $38.17. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. The firm had revenue of $125.07 million for the quarter, compared to analyst estimates of $121.80 million. Analysts expect that Perimeter Solutions, SA will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

PRM has been the subject of several research reports. UBS Group lifted their price target on Perimeter Solutions from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. CJS Securities began coverage on Perimeter Solutions in a research report on Tuesday, June 9th. They issued a "market outperform" rating and a $48.00 price objective on the stock. Wall Street Zen raised Perimeter Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Zacks Research upgraded Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Finally, Morgan Stanley increased their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Perimeter Solutions presently has a consensus rating of "Buy" and an average price target of $40.67.

Insider Transactions at Perimeter Solutions

In other news, insider Jeffrey Emery sold 99,963 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $32.92, for a total value of $3,290,781.96. Following the completion of the sale, the insider directly owned 46,500 shares in the company, valued at approximately $1,530,780. The trade was a 68.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $31.19, for a total transaction of $3,665,168.09. Following the sale, the chief executive officer owned 1,874,615 shares in the company, valued at approximately $58,469,241.85. This trade represents a 5.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 679,535 shares of company stock worth $21,846,411. 13.10% of the stock is currently owned by corporate insiders.

Perimeter Solutions Profile

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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