Principal Financial Group Inc. Acquires 218,002 Shares of Perimeter Solutions, SA (NYSE:PRM)

Principal Financial Group Inc. grew its position in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,912,291 shares of the company's stock after purchasing an additional 218,002 shares during the period. Principal Financial Group Inc. owned about 7.33% of Perimeter Solutions worth $109,887,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Perimeter Solutions by 21.8% during the 4th quarter. Bank of New York Mellon Corp now owns 442,278 shares of the company's stock worth $5,652,000 after buying an additional 79,241 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Perimeter Solutions during the fourth quarter worth about $301,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Perimeter Solutions by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,287,825 shares of the company's stock valued at $16,458,000 after purchasing an additional 82,163 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Perimeter Solutions in the 4th quarter valued at approximately $984,000. Finally, AlphaQuest LLC acquired a new position in shares of Perimeter Solutions in the 4th quarter valued at approximately $553,000. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PRM. Morgan Stanley reduced their price objective on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Wall Street Zen downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, UBS Group upgraded shares of Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a report on Wednesday, March 26th.

Insiders Place Their Bets

In other news, Director Vivek Raj sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.78, for a total transaction of $1,178,000.00. Following the transaction, the director directly owned 168,942 shares of the company's stock, valued at approximately $1,990,136.76. This trade represents a 37.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was bought at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the purchase, the insider owned 21,854,600 shares of the company's stock, valued at $305,527,308. This trade represents a 1.18% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 303,094 shares of company stock worth $3,587,021. Insiders own 10.00% of the company's stock.

Perimeter Solutions Stock Up 1.3%

PRM traded up $0.20 during trading on Friday, reaching $15.47. 990,152 shares of the stock were exchanged, compared to its average volume of 990,899. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.56 and a current ratio of 5.23. The stock's 50 day moving average price is $12.46 and its two-hundred day moving average price is $11.61. The stock has a market cap of $2.28 billion, a P/E ratio of 19.58 and a beta of 1.95. Perimeter Solutions, SA has a twelve month low of $7.63 and a twelve month high of $15.46.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.12. The business had revenue of $72.03 million for the quarter, compared to analyst estimates of $75.00 million. Perimeter Solutions had a negative return on equity of 4.33% and a net margin of 23.23%. Equities analysts expect that Perimeter Solutions, SA will post 0.71 EPS for the current year.

About Perimeter Solutions

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.