Jacobs Levy Equity Management Inc. Grows Holdings in Perimeter Solutions, SA $PRM

Key Points

• Jacobs Levy Equity Management Inc. dramatically increased its stake in Perimeter Solutions by 2,927.3%, acquiring 438,784 shares valued at approximately $4.42 million.
• Major shareholder Windacre Partnership Master Fu purchased 254,600 shares in a recent transaction, raising their ownership to over 21.8 million shares, worth about $305.5 million.
• Analysts have mixed ratings on Perimeter Solutions, with Morgan Stanley raising its target price to $25.00, while Wall Street Zen downgraded it from "buy" to "hold."

Jacobs Levy Equity Management Inc. boosted its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 2,927.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 438,784 shares of the company's stock after acquiring an additional 424,290 shares during the period. Jacobs Levy Equity Management Inc. owned 0.30% of Perimeter Solutions worth $4,419,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in Perimeter Solutions in the first quarter worth about $123,000. Teacher Retirement System of Texas raised its position in Perimeter Solutions by 21.0% in the first quarter. Teacher Retirement System of Texas now owns 249,091 shares of the company's stock worth $2,508,000 after acquiring an additional 43,247 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Perimeter Solutions in the first quarter worth about $3,479,000. SG Americas Securities LLC raised its position in Perimeter Solutions by 59.7% in the first quarter. SG Americas Securities LLC now owns 93,811 shares of the company's stock worth $945,000 after acquiring an additional 35,078 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in Perimeter Solutions by 15.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 54,573 shares of the company's stock worth $550,000 after acquiring an additional 7,347 shares during the period. Institutional investors own 89.93% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Perimeter Solutions

In related news, insider Jeffrey Emery sold 300,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $22.28, for a total transaction of $6,684,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kyle Sable sold 40,000 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $22.05, for a total transaction of $882,000.00. The disclosure for this sale can be found here. 10.00% of the stock is owned by corporate insiders.

Perimeter Solutions Stock Performance

Perimeter Solutions stock traded up $0.06 during mid-day trading on Friday, reaching $22.26. The company's stock had a trading volume of 748,398 shares, compared to its average volume of 1,341,242. Perimeter Solutions, SA has a 12-month low of $8.76 and a 12-month high of $23.79. The company has a market capitalization of $3.26 billion, a P/E ratio of 51.77 and a beta of 2.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.60 and a current ratio of 4.04. The firm's fifty day moving average price is $18.55 and its two-hundred day moving average price is $13.76.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $162.64 million during the quarter, compared to analyst estimates of $108.91 million. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. Sell-side analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

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.