Perimeter Solutions, SA $PRM Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Perimeter Solutions stake by 24.2% in the first quarter, bringing its holdings to 164,346 shares valued at approximately $4 million. Institutional investors collectively own 89.93% of PRM.
• Perimeter Solutions reported quarterly earnings of $0.35 per share, below the $0.43 analyst consensus, while revenue of $213.81 million also fell short of expectations.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $41.75 price target, although insiders have sold more than 6.1 million shares worth approximately $211.2 million over the past 90 days.

California State Teachers Retirement System grew its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 24.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,346 shares of the company's stock after purchasing an additional 32,073 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Perimeter Solutions worth $4,013,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Arax Advisory Partners lifted its stake in shares of Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company's stock worth $29,000 after buying an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company's stock valued at $31,000 after acquiring an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions in the 2nd quarter valued at about $42,000. Comerica Bank lifted its stake in Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Perimeter Solutions by 55.7% in the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company's stock worth $69,000 after purchasing an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company's stock.

Perimeter Solutions Stock Down 5.6%

PRM stock opened at $35.25 on Friday. Perimeter Solutions, SA has a one year low of $16.96 and a one year high of $38.17. The firm has a market cap of $5.77 billion, a PE ratio of -15.81 and a beta of 1.91. The firm's 50 day moving average price is $34.19 and its 200-day moving average price is $29.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.61 and a current ratio of 1.57.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $213.81 million during the quarter, compared to analysts' expectations of $216.89 million. Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%. On average, equities research analysts anticipate that Perimeter Solutions, SA will post 1.58 EPS for the current year.

Analyst Upgrades and Downgrades

PRM has been the subject of several recent research reports. Weiss Ratings raised Perimeter Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 29th. Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. JPMorgan Chase & Co. cut their target price on Perimeter Solutions from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Morgan Stanley lifted their price target on Perimeter Solutions from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Finally, Zacks Research cut shares of Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Perimeter Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.75.

Insiders Place Their Bets

In other news, CFO Kyle Sable sold 49,540 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total transaction of $1,639,278.60. Following the completion of the transaction, the chief financial officer directly owned 49,540 shares in the company, valued at approximately $1,639,278.60. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $34.66, for a total transaction of $117,617,982.14. Following the completion of the transaction, the insider directly owned 18,461,121 shares in the company, valued at $639,862,453.86. The trade was a 15.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 6,189,014 shares of company stock worth $211,248,393. Company insiders own 13.10% of the company's stock.

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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