Perimeter Solutions, SA $PRM Shares Acquired by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in Perimeter Solutions, SA by 57.2% during the first quarter, owning approximately 107,854 shares valued at about $1.09 million.
• Several institutional investors have recently adjusted their positions in PRM, with institutional ownership now at 89.93% of the company’s stock.
• Analysts have rated Perimeter Solutions stock with a consensus price target of $22.50 and a general rating of "Buy," reflecting positive outlooks from firms like UBS and Morgan Stanley.

Graham Capital Management L.P. grew its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 57.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,854 shares of the company's stock after purchasing an additional 39,245 shares during the period. Graham Capital Management L.P. owned about 0.07% of Perimeter Solutions worth $1,086,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PRM. Pennant Investors LP raised its stake in Perimeter Solutions by 8.8% in the 1st quarter. Pennant Investors LP now owns 2,470,000 shares of the company's stock valued at $24,873,000 after purchasing an additional 200,000 shares during the last quarter. Comerica Bank increased its stake in shares of Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after acquiring an additional 1,324 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Perimeter Solutions in the 1st quarter worth $318,000. Jump Financial LLC purchased a new position in shares of Perimeter Solutions during the 1st quarter worth $923,000. Finally, Senator Investment Group LP grew its holdings in shares of Perimeter Solutions by 14.7% during the 1st quarter. Senator Investment Group LP now owns 2,350,000 shares of the company's stock worth $23,664,000 after purchasing an additional 300,882 shares during the period. Hedge funds and other institutional investors own 89.93% of the company's stock.

Wall Street Analysts Forecast Growth

PRM has been the subject of a number of research analyst reports. UBS Group increased their price target on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley increased their price target on Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Finally, Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $22.50.

Perimeter Solutions Stock Performance

PRM traded down $1.06 during trading on Tuesday, hitting $21.92. 261,252 shares of the stock were exchanged, compared to its average volume of 1,180,215. The firm has a market capitalization of $3.21 billion, a P/E ratio of 50.91 and a beta of 2.00. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $23.79. The stock has a fifty day moving average price of $17.98 and a two-hundred day moving average price of $13.43. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.28 by $0.11. The company had revenue of $162.64 million for the quarter, compared to analyst estimates of $108.91 million. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%. As a group, sell-side analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insiders Place Their Bets

In other Perimeter Solutions news, CFO Kyle Sable sold 40,000 shares of Perimeter Solutions stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $22.05, for a total transaction of $882,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey Emery sold 300,000 shares of Perimeter Solutions stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $22.28, for a total value of $6,684,000.00. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate insiders.

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.