Principal Financial Group Inc. Boosts Stock Position in Perimeter Solutions, SA (NYSE:PRM)

Principal Financial Group Inc. increased its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,912,291 shares of the company's stock after acquiring an additional 218,002 shares during the period. Principal Financial Group Inc. owned about 7.33% of Perimeter Solutions worth $109,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Perimeter Solutions during the first quarter worth about $3,479,000. SG Americas Securities LLC grew its holdings in Perimeter Solutions by 59.7% during the first quarter. SG Americas Securities LLC now owns 93,811 shares of the company's stock worth $945,000 after acquiring an additional 35,078 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Perimeter Solutions by 15.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 54,573 shares of the company's stock worth $550,000 after acquiring an additional 7,347 shares during the period. Proficio Capital Partners LLC acquired a new stake in Perimeter Solutions during the fourth quarter worth about $301,000. Finally, Two Sigma Advisers LP acquired a new stake in Perimeter Solutions during the fourth quarter worth about $258,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Price Performance

PRM traded down $0.07 during trading on Monday, hitting $15.32. The company's stock had a trading volume of 1,291,124 shares, compared to its average volume of 994,835. The company has a current ratio of 5.23, a quick ratio of 3.56 and a debt-to-equity ratio of 0.55. Perimeter Solutions, SA has a twelve month low of $7.63 and a twelve month high of $15.67. The business's fifty day simple moving average is $12.56 and its 200 day simple moving average is $11.61. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 19.39 and a beta of 1.95.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.12. The firm 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%. On average, equities research analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on PRM. Wall Street Zen lowered Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Morgan Stanley dropped their price objective on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, UBS Group raised 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 Perimeter Solutions news, Director Vivek Raj sold 100,000 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.78, for a total transaction of $1,178,000.00. Following the transaction, the director owned 168,942 shares of the company's stock, valued at approximately $1,990,136.76. The trade was a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Windacre Partnership Master Fu bought 254,600 shares of Perimeter Solutions stock in a transaction on Friday, June 27th. The stock was acquired at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the transaction, the insider directly owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. This trade represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 303,094 shares of company stock worth $3,587,021 in the last three months. 10.00% of the stock is currently owned by corporate insiders.

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.