Petrus Trust Company LTA Decreases Stake in Perimeter Solutions, SA $PRM

Key Points

• Petrus Trust Company LTA has reduced its holdings in Perimeter Solutions, SA by 51.3%, selling 813,419 shares and now owning a total of 770,674 shares.
• Insider transactions include Windacre Partnership Master Fu purchasing 254,600 shares at an average cost of $13.98 per share, increasing their ownership to approximately 21,854,600 shares.
• Analysts have mixed views on Perimeter Solutions, with one brokerage downgrading it from "buy" to "hold", while Morgan Stanley and UBS raised their target prices to $25.00 and $20.00 respectively.

Petrus Trust Company LTA reduced its position in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 51.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 770,674 shares of the company's stock after selling 813,419 shares during the period. Perimeter Solutions makes up 0.7% of Petrus Trust Company LTA's investment portfolio, making the stock its 22nd largest holding. Petrus Trust Company LTA owned about 0.52% of Perimeter Solutions worth $7,761,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. New York State Teachers Retirement System bought a new position in shares of Perimeter Solutions in the 1st quarter worth $123,000. Teacher Retirement System of Texas lifted its holdings in shares of Perimeter Solutions by 21.0% in the 1st quarter. Teacher Retirement System of Texas now owns 249,091 shares of the company's stock worth $2,508,000 after purchasing an additional 43,247 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Perimeter Solutions in the 1st quarter worth $3,479,000. SG Americas Securities LLC lifted its holdings in shares of Perimeter Solutions by 59.7% in the 1st quarter. SG Americas Securities LLC now owns 93,811 shares of the company's stock worth $945,000 after purchasing an additional 35,078 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Perimeter Solutions by 15.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 54,573 shares of the company's stock worth $550,000 after purchasing an additional 7,347 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Perimeter Solutions news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was purchased at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the transaction, the insider directly owned 21,854,600 shares in the company, valued at $305,527,308. This trade represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Sable sold 40,000 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $22.05, for a total value of $882,000.00. The disclosure for this sale can be found here. Insiders own 10.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRM. Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. UBS Group increased their price target on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley increased their price target on Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Perimeter Solutions currently has an average rating of "Buy" and an average price target of $22.50.

Perimeter Solutions Stock Down 0.7%

NYSE PRM traded down $0.17 on Wednesday, reaching $22.04. The company had a trading volume of 1,033,199 shares, compared to its average volume of 1,184,118. The stock has a market capitalization of $3.23 billion, a P/E ratio of 51.25 and a beta of 2.00. The company's fifty day moving average is $18.15 and its 200 day moving average is $13.49. Perimeter Solutions, SA has a 52-week low of $8.76 and a 52-week high of $23.79. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.11. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%.The firm had revenue of $162.64 million during the quarter, compared to analyst estimates of $108.91 million. Sell-side analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Perimeter Solutions Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.