Perimeter Solutions, SA $PRM Shares Acquired by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. increased its stake in Perimeter Solutions by 61.2% in the first quarter, buying 404,417 additional shares and bringing its total holdings to 1,064,925 shares worth about $26.0 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors controlling 89.93% of the stock. Several other big investors, including Principal Financial Group and Vanguard, also raised their positions.
• Perimeter Solutions recently beat earnings expectations, reporting $0.06 EPS versus the $0.02 consensus and revenue of $125.07 million. Analysts currently have a Moderate Buy consensus with an average price target of $43.00.

Bessemer Group Inc. lifted its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 61.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,064,925 shares of the company's stock after buying an additional 404,417 shares during the period. Bessemer Group Inc. owned approximately 0.65% of Perimeter Solutions worth $26,006,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Perimeter Solutions by 15.0% in the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company's stock valued at $305,572,000 after acquiring an additional 1,634,158 shares during the period. Vanguard Group Inc. lifted its position in Perimeter Solutions by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company's stock worth $235,951,000 after acquiring an additional 156,788 shares during the period. Dimensional Fund Advisors LP lifted its position in Perimeter Solutions by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company's stock worth $115,188,000 after acquiring an additional 221,290 shares during the period. Janus Henderson Group PLC grew its stake in Perimeter Solutions by 54.9% during the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company's stock valued at $101,634,000 after purchasing an additional 1,308,602 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Perimeter Solutions by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company's stock valued at $94,218,000 after purchasing an additional 122,435 shares during the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Price Performance

NYSE:PRM opened at $34.34 on Friday. Perimeter Solutions, SA has a one year low of $15.43 and a one year high of $38.17. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of -25.63 and a beta of 1.90. The firm's fifty day moving average is $33.67 and its two-hundred day moving average is $28.92.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The business had revenue of $125.07 million during the quarter, compared to analyst estimates of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. Research analysts expect that Perimeter Solutions, SA will post 1.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PRM shares. Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. initiated coverage on Perimeter Solutions in a research report on Thursday, July 9th. They issued an "overweight" rating and a $50.00 target price on the stock. Zacks Research lowered Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. CJS Securities initiated coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They issued a "market outperform" rating and a $48.00 price target on the stock. Finally, Morgan Stanley raised their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Perimeter Solutions currently has an average rating of "Moderate Buy" and an average target price of $43.00.

Insider Buying and Selling

In other Perimeter Solutions news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total value of $63,562,500.00. Following the completion of the transaction, the insider directly owned 16,148,621 shares of the company's stock, valued at approximately $547,438,251.90. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kyle Sable sold 49,540 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $33.09, for a total value of $1,639,278.60. Following the completion of the transaction, the chief financial officer directly owned 49,540 shares of the company's stock, valued at $1,639,278.60. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,385,514 shares of company stock valued at $217,464,393 in the last three months. 13.10% of the stock is currently owned by insiders.

Perimeter Solutions Company Profile

Perimeter Solutions Ltd. NYSE: PRM is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company's core product portfolio spans several key segments.

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