Perimeter Solutions, SA $PRM Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its Perimeter Solutions stake by 40.1% in the fourth quarter, selling 227,715 shares and leaving it with 339,607 shares worth about $9.35 million.
• Perimeter Solutions beat Q1 earnings expectations, reporting EPS of $0.06 versus the $0.02 consensus and revenue of $125.07 million versus the expected $121.80 million.
• Analyst sentiment remains constructive, with UBS and Morgan Stanley both raising price targets, and the stock carrying a consensus rating of “Moderate Buy” with an average target of $37.00.

UBS Group AG lessened its stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 40.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 339,607 shares of the company's stock after selling 227,715 shares during the quarter. UBS Group AG owned about 0.23% of Perimeter Solutions worth $9,349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PRM. Arrowstreet Capital Limited Partnership increased its holdings in shares of Perimeter Solutions by 50.4% in the third 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 during the last quarter. Millennium Management LLC acquired a new stake in Perimeter Solutions during the third quarter worth $14,612,000. Bank of America Corp DE increased its stake in Perimeter Solutions by 35.8% during the second quarter. Bank of America Corp DE now owns 2,274,018 shares of the company's stock worth $31,654,000 after acquiring an additional 599,972 shares during the last quarter. Skye Global Management LP increased its stake in Perimeter Solutions by 485.2% during the second quarter. Skye Global Management LP now owns 614,500 shares of the company's stock worth $8,554,000 after acquiring an additional 509,500 shares during the last quarter. Finally, Credit Agricole S A acquired a new stake in Perimeter Solutions during the third quarter worth $9,338,000. Institutional investors and hedge funds own 89.93% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In other news, insider Jeffrey Emery sold 53,537 shares of Perimeter Solutions stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total value of $1,790,812.65. Following the completion of the sale, the insider directly owned 53,537 shares of the company's stock, valued at approximately $1,790,812.65. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle Sable sold 49,540 shares of Perimeter Solutions stock in a transaction 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 owned 49,540 shares of the company's stock, valued at approximately $1,639,278.60. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 900,000 shares of company stock valued at $25,285,053. 13.10% of the stock is currently owned by corporate insiders.

Perimeter Solutions Trading Down 2.3%

Shares of NYSE PRM opened at $33.21 on Friday. Perimeter Solutions, SA has a twelve month low of $11.55 and a twelve month high of $34.89. The company has a current ratio of 3.09, a quick ratio of 2.42 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $26.41 and a 200-day simple moving average of $26.64. The stock has a market capitalization of $5.42 billion, a PE ratio of -24.78 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued 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 business had revenue of $125.07 million during the quarter, compared to analysts' expectations of $121.80 million. On average, equities analysts forecast that Perimeter Solutions, SA will post 1.91 earnings per share 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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