Perimeter Solutions, SA $PRM Shares Bought by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in Perimeter Solutions by 3.7% in the fourth quarter, bringing its holdings to 3.42 million shares worth about $94.2 million.
• Several other major institutions also boosted their positions, and 89.93% of Perimeter Solutions shares are now owned by institutional investors and hedge funds.
• The company reported quarterly results that beat analyst expectations, with EPS of $0.06 versus the $0.02 estimate and revenue of $125.07 million versus $121.80 million expected; analysts currently rate the stock Moderate Buy with a $37 price target.

Geode Capital Management LLC grew its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,421,820 shares of the company's stock after acquiring an additional 122,435 shares during the period. Geode Capital Management LLC owned about 2.31% of Perimeter Solutions worth $94,218,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PRM. Vanguard Group Inc. raised its position in shares of Perimeter Solutions by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company's stock valued at $235,951,000 after purchasing an additional 156,788 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Perimeter Solutions by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company's stock valued at $115,188,000 after purchasing an additional 221,290 shares in the last quarter. Bank of America Corp DE raised its position in shares of Perimeter Solutions by 35.8% in the 2nd quarter. Bank of America Corp DE now owns 2,274,018 shares of the company's stock valued at $31,654,000 after purchasing an additional 599,972 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Perimeter Solutions by 50.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,132,167 shares of the company's stock valued at $47,739,000 after purchasing an additional 714,816 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of Perimeter Solutions by 34.5% in the 2nd quarter. Raymond James Financial Inc. now owns 1,245,348 shares of the company's stock valued at $17,335,000 after purchasing an additional 319,264 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, insider Jeffrey Emery sold 99,963 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $32.92, for a total value of $3,290,781.96. Following the transaction, the insider owned 46,500 shares of the company's stock, valued at $1,530,780. This trade represents a 68.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William N. Thorndike, Jr. sold 125,000 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the completion of the transaction, the director directly owned 8,735,656 shares in the company, valued at $204,152,280.72. This represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 904,535 shares of company stock worth $27,130,661. Insiders own 13.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRM. UBS Group upped their target price on Perimeter Solutions from $30.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Morgan Stanley upped their target price on Perimeter Solutions from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Zacks Research raised Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Wall Street Zen raised Perimeter Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised Perimeter Solutions from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Perimeter Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Perimeter Solutions Stock Performance

PRM stock opened at $30.15 on Friday. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. The firm has a market cap of $4.92 billion, a P/E ratio of -22.50 and a beta of 1.92. Perimeter Solutions, SA has a 12-month low of $12.69 and a 12-month high of $34.89. The stock's 50 day simple moving average is $29.17 and its 200 day simple moving average is $27.42.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $125.07 million for 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%. As a group, equities research analysts predict that Perimeter Solutions, SA will post 1.91 EPS for the current year.

Perimeter Solutions 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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