Fox Run Management L.L.C. Boosts Holdings in Perimeter Solutions, SA $PRM

Key Points

• Fox Run Management L.L.C. increased its stake in Perimeter Solutions, SA by 322.0%, acquiring an additional 57,086 shares, bringing its total to 74,816 shares valued at approximately $753,000.
• Institutional investors currently hold 89.93% of Perimeter Solutions' stock, with several firms like Principal Financial Group and Vanguard Group increasing their stakes in the last quarter.
• The company's latest earnings report showed earnings per share of $0.39, exceeding estimates, with revenue reaching $162.64 million compared to an estimate of $108.91 million.

Fox Run Management L.L.C. increased its position in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 322.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,816 shares of the company's stock after buying an additional 57,086 shares during the quarter. Fox Run Management L.L.C. owned 0.05% of Perimeter Solutions worth $753,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in Perimeter Solutions in the first quarter worth about $842,000. Nuveen LLC purchased a new position in Perimeter Solutions in the 1st quarter worth about $3,515,000. Aigen Investment Management LP purchased a new position in Perimeter Solutions in the 1st quarter worth about $161,000. CenterBook Partners LP bought a new position in Perimeter Solutions in the first quarter worth approximately $927,000. Finally, Deutsche Bank AG raised its stake in Perimeter Solutions by 198.5% during the 1st quarter. Deutsche Bank AG now owns 355,796 shares of the company's stock worth $3,583,000 after acquiring an additional 236,589 shares during the period. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Price Performance

Shares of PRM stock traded down $0.0830 on Tuesday, reaching $18.5670. The company's stock had a trading volume of 923,678 shares, compared to its average volume of 1,151,530. The stock's fifty day simple moving average is $15.68 and its 200-day simple moving average is $12.43. Perimeter Solutions, SA has a 1 year low of $8.76 and a 1 year high of $18.77. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 43.18 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, beating 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. Analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PRM. Morgan Stanley lowered their price target 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 lifted their price target 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. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Perimeter Solutions presently has a consensus rating of "Buy" and an average price target of $18.50.

Insiders Place Their Bets

In related news, Director Vivek Raj sold 32,000 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $11.70, for a total value of $374,400.00. Following the completion of the transaction, the director directly owned 68,132 shares of the company's stock, valued at approximately $797,144.40. This trade represents a 31.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of the company's stock in a transaction 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 completion of the purchase, 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. Company insiders own 10.00% of the company's stock.

Perimeter Solutions Company 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.