Invesco Ltd. Has $3.32 Million Stake in Perimeter Solutions, SA $PRM

Key Points

• Invesco Ltd. has decreased its stake in Perimeter Solutions, SA by 6.0%, now holding 330,066 shares valued at $3.32 million following a sale of 21,121 shares.
• Major shareholder Windacre Partnership Master Fu increased their ownership by acquiring 254,600 shares for approximately $3.56 million, raising their total shares to 21,854,600.
• Perimeter Solutions reported a strong quarterly performance with earnings per share of $0.39, exceeding estimates and prompting upgrades from analysts, including a price target hike from Morgan Stanley to $25.00.

Invesco Ltd. trimmed its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,066 shares of the company's stock after selling 21,121 shares during the quarter. Invesco Ltd. owned approximately 0.22% of Perimeter Solutions worth $3,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRM. Principal Financial Group Inc. increased its position in Perimeter Solutions by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 10,912,291 shares of the company's stock valued at $109,887,000 after purchasing an additional 218,002 shares during the period. Vanguard Group Inc. lifted its stake in shares of Perimeter Solutions by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 8,358,929 shares of the company's stock valued at $84,174,000 after purchasing an additional 147,336 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Perimeter Solutions by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,113,380 shares of the company's stock valued at $39,789,000 after purchasing an additional 579,987 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Perimeter Solutions by 12.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,025,390 shares of the company's stock worth $38,664,000 after purchasing an additional 327,210 shares in the last quarter. Finally, Equitable Trust Co. lifted its position in Perimeter Solutions by 16.5% during the first quarter. Equitable Trust Co. now owns 2,137,121 shares of the company's stock valued at $21,521,000 after buying an additional 302,774 shares during the period. Institutional investors own 89.93% of the company's stock.

Insider Buying and Selling at Perimeter Solutions

In related news, 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 price of $13.98 per share, for a total transaction of $3,559,308.00. Following the purchase, the insider owned 21,854,600 shares in the company, valued at $305,527,308. This represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PRM shares. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. UBS Group boosted their price target on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley raised their price objective on Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Perimeter Solutions has a consensus rating of "Buy" and an average price target of $22.50.

Perimeter Solutions Trading Down 3.1%

NYSE PRM traded down $0.69 on Wednesday, hitting $21.83. 540,143 shares of the company were exchanged, compared to its average volume of 1,168,845. Perimeter Solutions, SA has a twelve month low of $8.76 and a twelve month high of $22.74. The company's 50 day moving average price is $17.31 and its 200-day moving average price is $13.10. The firm has a market capitalization of $3.20 billion, a P/E ratio of 50.84 and a beta of 2.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.04 and a quick ratio of 2.60.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) 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 business had revenue of $162.64 million for the quarter, compared to analyst estimates of $108.91 million. Analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

About Perimeter Solutions

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.