Perimeter Solutions, SA $PRM Shares Bought by Senator Investment Group LP

Key Points

• Senator Investment Group LP increased its stake in Perimeter Solutions by 11.8% in the fourth quarter, bringing its holding to 2.35 million shares worth about $64.6 million.
• Several other institutional investors also added to or initiated positions in PRM, and overall 89.93% of the stock is owned by institutions and hedge funds.
• Perimeter Solutions beat quarterly earnings estimates, reporting $0.06 EPS versus $0.02 expected, while analysts currently rate the stock a Moderate Buy with an average target price of $40.67.

Senator Investment Group LP raised its holdings in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,348,000 shares of the company's stock after buying an additional 248,000 shares during the period. Perimeter Solutions comprises about 2.6% of Senator Investment Group LP's holdings, making the stock its 13th largest position. Senator Investment Group LP owned 1.59% of Perimeter Solutions worth $64,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRM. Comerica Bank raised its stake in Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company's stock valued at $43,000 after buying an additional 1,324 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Perimeter Solutions by 100.0% during the first quarter. Royal Bank of Canada now owns 80,608 shares of the company's stock worth $812,000 after purchasing an additional 40,294 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Perimeter Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company's stock worth $801,000 after purchasing an additional 3,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Perimeter Solutions by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company's stock worth $3,305,000 after purchasing an additional 14,949 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of Perimeter Solutions during the second quarter worth about $2,128,000. 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, CFO Kyle Sable sold 49,540 shares of Perimeter Solutions stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total value of $1,639,278.60. Following the sale, the chief financial officer owned 49,540 shares of the company's stock, valued at approximately $1,639,278.60. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the completion of the sale, the chief executive officer directly owned 1,874,615 shares in the company, valued at $58,469,241.85. This represents a 5.90% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 679,535 shares of company stock valued at $21,846,411. 13.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PRM has been the topic of several research reports. CJS Securities initiated coverage on Perimeter Solutions in a report on Tuesday, June 9th. They set a "market outperform" rating and a $48.00 price objective on the stock. Wall Street Zen raised Perimeter Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Zacks Research raised Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 14th. UBS Group raised their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, Weiss Ratings raised Perimeter Solutions from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Perimeter Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.67.

Perimeter Solutions Stock Performance

NYSE PRM opened at $36.32 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01. Perimeter Solutions, SA has a 52-week low of $13.05 and a 52-week high of $36.42. The business's 50-day moving average price is $30.46 and its 200 day moving average price is $27.76. The firm has a market cap of $5.92 billion, a P/E ratio of -27.10 and a beta of 1.92.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced 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. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The company had revenue of $125.07 million for the quarter, compared to analyst estimates of $121.80 million. On average, equities research analysts expect that Perimeter Solutions, SA will post 1.78 earnings per share for the current year.

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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