Perimeter Solutions, SA $PRM Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Perimeter Solutions, SA by 2.5% in Q1, now owning 1,284,874 shares valued at approximately $12.94 million.
• Perimeter Solutions reported earnings per share (EPS) of $0.39 for the last quarter, exceeding analysts' expectations, with revenue of $162.64 million.
• Analyst recommendations are mixed, with UBS raising the target price to $20 and Morgan Stanley increasing it to $25, while Wall Street Zen downgraded it to a hold rating.

Northern Trust Corp reduced its position in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,284,874 shares of the company's stock after selling 33,231 shares during the quarter. Northern Trust Corp owned 0.86% of Perimeter Solutions worth $12,939,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Comerica Bank purchased a new stake in Perimeter Solutions in the fourth quarter valued at about $38,000. Harbor Investment Advisory LLC grew its stake in Perimeter Solutions by 25.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock worth $94,000 after purchasing an additional 1,899 shares in the last quarter. Xponance Inc. acquired a new position in shares of Perimeter Solutions during the 1st quarter worth about $101,000. Gilbert & Cook Inc. acquired a new stake in shares of Perimeter Solutions in the 1st quarter valued at about $104,000. Finally, New York State Teachers Retirement System purchased a new position in shares of Perimeter Solutions during the 1st quarter worth approximately $123,000. Institutional investors own 89.93% of the company's stock.

Perimeter Solutions Price Performance

NYSE:PRM traded down $0.17 on Wednesday, hitting $22.04. The company had a trading volume of 1,033,215 shares, compared to its average volume of 1,380,170. Perimeter Solutions, SA has a 52 week low of $8.76 and a 52 week high of $23.79. The firm has a 50 day moving average of $18.28 and a two-hundred day moving average of $13.55. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 51.25 and a beta of 2.00. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.11. The business had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. On average, research analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRM. UBS Group lifted their target price on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Morgan Stanley increased their target price 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. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Perimeter Solutions presently has an average rating of "Buy" and a consensus price target of $22.50.

Insiders Place Their Bets

In related news, insider Jeffrey Emery sold 300,000 shares of the company's stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the business's stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the completion of the acquisition, the insider owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. The trade was a 1.18% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 10.00% of the company's stock.

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.