Pacific Capital Partners Ltd Decreases Stock Position in Perimeter Solutions, SA $PRM

Key Points

• Pacific Capital Partners Ltd reduced its stake in Perimeter Solutions, SA by 33.3% during the second quarter, owning approximately 100,000 shares after selling 50,000 shares.
• Multiple institutional investors have been actively trading Perimeter Solutions, with Principal Financial Group Inc. increasing its stake by 2.0% and Senator Investment Group LP boosting its holdings by 14.7% in the first quarter.
• Analysts have issued varying ratings on the stock, with Morgan Stanley raising its price target from $17 to $25, while Wall Street Zen downgraded it from a "buy" to a "hold," leaving the consensus rating at "Buy" with an average target of $22.50.

Pacific Capital Partners Ltd cut its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 33.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company's stock after selling 50,000 shares during the period. Pacific Capital Partners Ltd owned 0.07% of Perimeter Solutions worth $1,392,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in Perimeter Solutions by 2.0% in the first quarter. Principal Financial Group Inc. now owns 10,912,291 shares of the company's stock valued at $109,887,000 after acquiring an additional 218,002 shares in the last quarter. Vanguard Group Inc. raised its holdings in Perimeter Solutions by 1.8% in the first quarter. Vanguard Group Inc. now owns 8,358,929 shares of the company's stock valued at $84,174,000 after acquiring an additional 147,336 shares in the last quarter. Pennant Investors LP raised its holdings in Perimeter Solutions by 8.8% in the first quarter. Pennant Investors LP now owns 2,470,000 shares of the company's stock valued at $24,873,000 after acquiring an additional 200,000 shares in the last quarter. Senator Investment Group LP raised its holdings in Perimeter Solutions by 14.7% in the first quarter. Senator Investment Group LP now owns 2,350,000 shares of the company's stock valued at $23,664,000 after acquiring an additional 300,882 shares in the last quarter. Finally, Equitable Trust Co. raised its holdings in Perimeter Solutions by 16.5% in the first quarter. Equitable Trust Co. now owns 2,137,121 shares of the company's stock valued at $21,521,000 after acquiring an additional 302,774 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, August 25th. UBS Group increased their target price on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen cut 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 data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $22.50.

Perimeter Solutions Stock Up 0.3%

Shares of NYSE:PRM opened at $22.26 on Friday. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 51.77 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 company's fifty day moving average is $18.55 and its two-hundred day moving average is $13.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.60 and a current ratio of 4.04.

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 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%. Equities analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insider Transactions at Perimeter Solutions

In related news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the transaction, the insider directly owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. This represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sable sold 40,000 shares of the stock in a transaction dated 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. Insiders own 10.00% of the company's stock.

Perimeter Solutions Company 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.

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