Equitable Trust Co. Sells 145,705 Shares of Perimeter Solutions, SA $PRM

Key Points

• Equitable Trust Co. trimmed its stake in Perimeter Solutions by 7.1%, selling 145,705 shares and now holds 1,916,010 shares worth about $52.75 million, making PRM its 7th largest holding.
• Insiders sold heavily this quarter — a total of 450,000 shares were sold (including Director William N. Thorndike Jr.'s 100,000-share sale) — and company insiders currently own 13.10% of the stock.
• Perimeter's shares have a 52-week range of $10.23–$31.92 and a market cap of roughly $4.92 billion; the company recently beat quarterly EPS and revenue estimates but has a negative net margin and P/E, while analysts give a consensus rating of “Moderate Buy” with a $32.50 target.

Equitable Trust Co. lessened its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,916,010 shares of the company's stock after selling 145,705 shares during the period. Perimeter Solutions comprises 2.4% of Equitable Trust Co.'s holdings, making the stock its 7th largest holding. Equitable Trust Co. owned 1.30% of Perimeter Solutions worth $52,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PRM. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Perimeter Solutions by 239.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company's stock worth $1,524,000 after acquiring an additional 38,703 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Perimeter Solutions by 395.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company's stock worth $3,244,000 after acquiring an additional 115,653 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Perimeter Solutions by 3.2% during the 3rd quarter. Nordea Investment Management AB now owns 555,662 shares of the company's stock worth $12,102,000 after acquiring an additional 17,295 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Perimeter Solutions by 52,387.7% during the 3rd quarter. Federated Hermes Inc. now owns 298,130 shares of the company's stock worth $6,675,000 after acquiring an additional 297,562 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Perimeter Solutions by 197.2% during the 4th quarter. SG Americas Securities LLC now owns 230,940 shares of the company's stock worth $6,358,000 after acquiring an additional 153,228 shares in the last quarter. Institutional investors and hedge funds own 89.93% of the company's stock.

Insiders Place Their Bets

In other Perimeter Solutions news, Director William N. Thorndike, Jr. sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $23.63, for a total value of $2,363,000.00. Following the sale, the director owned 8,635,656 shares in the company, valued at $204,060,551.28. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 450,000 shares of company stock valued at $10,722,750 in the last quarter. Company insiders own 13.10% of the company's stock.

Perimeter Solutions Stock Performance

Shares of Perimeter Solutions stock opened at $30.18 on Wednesday. Perimeter Solutions, SA has a fifty-two week low of $10.23 and a fifty-two week high of $31.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.22 and a quick ratio of 2.42. The firm has a market capitalization of $4.92 billion, a P/E ratio of -21.25 and a beta of 1.93. The company's 50 day moving average price is $25.29 and its two-hundred day moving average price is $26.12.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Friday, February 27th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. The firm had revenue of $102.75 million for the quarter, compared to analyst estimates of $94.05 million. On average, equities analysts forecast that Perimeter Solutions, SA will post 1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRM. Zacks Research upgraded shares of Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. UBS Group upgraded shares of Perimeter Solutions from a "neutral" rating to a "buy" rating and increased their price target for the stock from $26.00 to $30.00 in a research report on Tuesday, March 31st. Finally, Weiss Ratings lowered shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Perimeter Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $32.50.

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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