Principal Financial Group Inc. Sells 133,788 Shares of Perimeter Solutions, SA $PRM

Principal Financial Group Inc. lowered its position in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,879,001 shares of the company's stock after selling 133,788 shares during the period. Principal Financial Group Inc. owned approximately 7.35% of Perimeter Solutions worth $299,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Truist Financial Corp bought a new stake in shares of Perimeter Solutions during the fourth quarter worth $669,000. Benjamin Edwards Inc. bought a new stake in shares of Perimeter Solutions during the fourth quarter worth $440,000. Strs Ohio lifted its position in shares of Perimeter Solutions by 22.8% during the fourth quarter. Strs Ohio now owns 43,100 shares of the company's stock worth $1,187,000 after purchasing an additional 8,000 shares during the last quarter. Narwhal Capital Management bought a new stake in shares of Perimeter Solutions during the fourth quarter worth $276,000. Finally, Comerica Bank lifted its position in shares of Perimeter Solutions by 102.1% during the fourth quarter. Comerica Bank now owns 10,143 shares of the company's stock worth $279,000 after purchasing an additional 5,124 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group upgraded Perimeter Solutions from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $26.00 to $30.00 in a research report on Tuesday, March 31st. Zacks Research raised shares of Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings downgraded shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Perimeter Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.

Insider Buying and Selling

In related news, Director William N. Thorndike, Jr. sold 125,000 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $23.37, for a total value of $2,921,250.00. Following the completion of the transaction, the director owned 8,735,656 shares of the company's stock, valued at $204,152,280.72. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 450,000 shares of company stock valued at $10,722,750 over the last ninety days. Insiders own 13.10% of the company's stock.

Perimeter Solutions Stock Performance

PRM stock opened at $30.18 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.22 and a quick ratio of 2.42. The business has a 50-day moving average price of $25.29 and a 200 day moving average price of $26.12. The company has a market capitalization of $4.92 billion, a P/E ratio of -21.25 and a beta of 1.93. Perimeter Solutions, SA has a 1-year low of $10.23 and a 1-year high of $31.92.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $102.75 million during the quarter, compared to the consensus estimate of $94.05 million. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%. As a group, equities research analysts forecast that Perimeter Solutions, SA will post 1.47 EPS for the current fiscal year.

About Perimeter Solutions

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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