Perimeter Solutions, SA $PRM Stake Lowered by Pacific Capital Partners Ltd

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 lessened its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 33.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in Perimeter Solutions by 2.0% in the 1st 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 during the period. Vanguard Group Inc. increased its position in Perimeter Solutions by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 8,358,929 shares of the company's stock worth $84,174,000 after purchasing an additional 147,336 shares during the period. Pennant Investors LP increased its position in Perimeter Solutions by 8.8% during the 1st quarter. Pennant Investors LP now owns 2,470,000 shares of the company's stock worth $24,873,000 after purchasing an additional 200,000 shares during the period. Senator Investment Group LP increased its position in Perimeter Solutions by 14.7% during the 1st quarter. Senator Investment Group LP now owns 2,350,000 shares of the company's stock worth $23,664,000 after purchasing an additional 300,882 shares during the period. Finally, Equitable Trust Co. increased its position in Perimeter Solutions by 16.5% during the 1st quarter. Equitable Trust Co. now owns 2,137,121 shares of the company's stock worth $21,521,000 after purchasing an additional 302,774 shares during the period. Institutional investors and hedge funds own 89.93% of the company's stock.

Perimeter Solutions Stock Up 0.3%

Shares of Perimeter Solutions stock traded up $0.06 on Friday, hitting $22.10. 341,312 shares of the company's stock traded hands, compared to its average volume of 1,171,788. Perimeter Solutions, SA has a 52-week low of $8.76 and a 52-week high of $23.79. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.24 billion, a P/E ratio of 51.36 and a beta of 2.00. The firm's 50-day moving average is $19.05 and its 200 day moving average is $14.03.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its 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. The business had revenue of $162.64 million for 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 earnings per share for the current year.

Insider Transactions at Perimeter Solutions

In other news, Director Vivek Raj sold 25,000 shares of Perimeter Solutions stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $22.45, for a total value of $561,250.00. Following the completion of the transaction, the director owned 121,701 shares in the company, valued at approximately $2,732,187.45. This trade represents a 17.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kyle Sable sold 40,000 shares of Perimeter Solutions stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $22.05, for a total value of $882,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 365,000 shares of company stock worth $8,127,250 in the last quarter. Insiders own 10.00% of the company's stock.

Analysts Set New Price Targets

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

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.