Equitable Trust Co. Buys 116,220 Shares of Perimeter Solutions, SA $PRM

Key Points

• Equitable Trust Co. has increased its stake in Perimeter Solutions, SA by 5.4% during the 2nd quarter, now holding 2,253,341 shares valued at approximately $31.37 million.
• Additionally, several large institutional investors have also acquired stakes in Perimeter Solutions, leading to a total institutional ownership of nearly 90% of the company's stock.
• Analysts have mixed reviews on the stock, with an average rating of "Moderate Buy" and a price target of $25.00, as well as recent downgrades from firms like Wall Street Zen.

Equitable Trust Co. increased its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,253,341 shares of the company's stock after purchasing an additional 116,220 shares during the quarter. Perimeter Solutions accounts for 1.6% of Equitable Trust Co.'s portfolio, making the stock its 11th largest position. Equitable Trust Co. owned about 1.53% of Perimeter Solutions worth $31,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes 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 buying an additional 1,324 shares during the period. Xponance Inc. purchased a new stake in Perimeter Solutions during the first quarter valued at $101,000. Gilbert & Cook Inc. bought a new stake in shares of Perimeter Solutions during the 1st quarter valued at about $104,000. New York State Teachers Retirement System bought a new stake in shares of Perimeter Solutions during the 1st quarter valued at about $123,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Perimeter Solutions during the 1st quarter valued at about $128,000. Institutional investors own 89.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PRM. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley upped their price objective on Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. UBS Group lifted their price objective on Perimeter Solutions from $21.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.00.

Perimeter Solutions Trading Up 4.4%

Shares of PRM opened at $22.13 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.04 and a quick ratio of 2.60. Perimeter Solutions, SA has a 1 year low of $8.76 and a 1 year high of $23.79. The company has a 50 day simple moving average of $20.90 and a two-hundred day simple moving average of $15.59. The firm has a market cap of $3.24 billion, a P/E ratio of 51.48 and a beta of 1.98.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.11. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. The firm had revenue of $162.64 million during the quarter, compared to analyst estimates of $108.91 million. On average, equities analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vivek Raj sold 25,000 shares of Perimeter Solutions stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $22.45, for a total value of $561,250.00. Following the sale, the director directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle Sable sold 40,000 shares of Perimeter Solutions stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $22.05, for a total value of $882,000.00. 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 in the last 90 days. 10.00% of the stock is currently owned by corporate insiders.

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.

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