Handelsbanken Fonder AB Takes $1.39 Million Position in Perimeter Solutions, SA $PRM

Key Points

• Handelsbanken Fonder AB opened a new position in Perimeter Solutions, buying 50,600 shares worth about $1.39 million in the fourth quarter.
• Insider selling picked up, with CEO Haitham Khouri and insider Jeffrey Emery both selling large blocks of stock. Over the last three months, insiders sold 1.13 million shares valued at about $32.6 million.
• Perimeter Solutions beat quarterly earnings expectations, reporting $0.06 EPS versus the $0.02 estimate and revenue of $125.07 million. Analysts remain generally positive, with an average rating of Moderate Buy and an average price target of $37.00.

Handelsbanken Fonder AB bought a new stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 50,600 shares of the company's stock, valued at approximately $1,393,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abacus Wealth Partners LLC purchased a new position in shares of Perimeter Solutions during the 4th quarter valued at approximately $523,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake 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 valued at $1,524,000 after buying an additional 38,703 shares during the last quarter. Tudor Investment Corp ET AL boosted its stake 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 valued at $3,244,000 after buying an additional 115,653 shares during the last quarter. Federated Hermes Inc. boosted its stake 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 valued at $6,675,000 after buying an additional 297,562 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake 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 valued at $6,358,000 after buying an additional 153,228 shares during the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $31.19, for a total value of $3,665,168.09. Following the sale, the chief executive officer directly owned 1,874,615 shares of the company's stock, valued at $58,469,241.85. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Emery sold 53,537 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total value of $1,790,812.65. Following the completion of the sale, the insider directly owned 53,537 shares in the company, valued at $1,790,812.65. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,129,535 shares of company stock valued at $32,569,161 over the last three months. Company insiders own 13.10% of the company's stock.

Perimeter Solutions Price Performance

Shares of NYSE PRM opened at $31.15 on Tuesday. Perimeter Solutions, SA has a 1-year low of $11.58 and a 1-year high of $34.89. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. The business's fifty day moving average price is $27.47 and its two-hundred day moving average price is $27.06. The firm has a market capitalization of $5.08 billion, a PE ratio of -23.24 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The firm had revenue of $125.07 million for the quarter, compared to analyst estimates of $121.80 million. On average, research analysts expect that Perimeter Solutions, SA will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRM. Zacks Research upgraded Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. UBS Group raised their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings upgraded Perimeter Solutions from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. Wall Street Zen upgraded Perimeter Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, Morgan Stanley raised their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.00.

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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