Equitable Trust Co. Purchases 302,774 Shares of Perimeter Solutions, SA (NYSE:PRM)

Key Points

• Equitable Trust Co. boosted its holdings in Perimeter Solutions, SA by 16.5% during Q1, owning approximately $21.5 million worth of stock, making it the firm's 16th largest holding.
• Other major investors, including Vanguard Group Inc. and JPMorgan Chase & Co., also significantly increased their stakes in Perimeter Solutions recently, with 89.93% of the stock owned by institutional investors.
• Perimeter Solutions reported a Q1 EPS of $0.03, exceeding analyst expectations, with analysts predicting a total of 0.71 EPS for the fiscal year.

Equitable Trust Co. grew its holdings in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 16.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,137,121 shares of the company's stock after purchasing an additional 302,774 shares during the period. Perimeter Solutions comprises approximately 1.2% of Equitable Trust Co.'s investment portfolio, making the stock its 16th biggest holding. Equitable Trust Co. owned approximately 1.44% of Perimeter Solutions worth $21,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new position in Perimeter Solutions during the first quarter worth $13,743,000. Navellier & Associates Inc. increased its holdings in Perimeter Solutions by 59.7% during the first quarter. Navellier & Associates Inc. now owns 92,393 shares of the company's stock worth $983,000 after buying an additional 34,546 shares during the last quarter. Gilbert & Cook Inc. acquired a new position in Perimeter Solutions during the first quarter worth $104,000. Templeton & Phillips Capital Management LLC increased its holdings in Perimeter Solutions by 1.8% during the first quarter. Templeton & Phillips Capital Management LLC now owns 188,999 shares of the company's stock worth $1,903,000 after buying an additional 3,383 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Perimeter Solutions during the first quarter worth $160,000. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Perimeter Solutions

In related news, Director Vivek Raj sold 32,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $11.70, for a total transaction of $374,400.00. Following the completion of the sale, the director owned 68,132 shares of the company's stock, valued at $797,144.40. This represents a 31.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the transaction, the insider directly owned 21,854,600 shares of the company's stock, valued at $305,527,308. This trade represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 303,094 shares of company stock valued at $3,587,021. 10.00% of the stock is currently owned by company insiders.

Perimeter Solutions Stock Performance

Shares of NYSE:PRM traded down $0.24 on Tuesday, hitting $16.29. The company had a trading volume of 346,458 shares, compared to its average volume of 1,142,958. Perimeter Solutions, SA has a 1-year low of $8.26 and a 1-year high of $17.40. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 20.59 and a beta of 1.95. The stock has a 50 day moving average price of $14.19 and a 200 day moving average price of $12.03. The company has a current ratio of 5.23, a quick ratio of 3.56 and a debt-to-equity ratio of 0.55.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.12. The company had revenue of $72.03 million during the quarter, compared to analysts' expectations of $75.00 million. Perimeter Solutions had a net margin of 23.23% and a negative return on equity of 4.33%. Analysts expect that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, UBS Group upped their price objective on shares of Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 9th.

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.