Raymond James Financial Inc. Has $9.33 Million Stock Position in Perimeter Solutions, SA $PRM

Key Points

• Raymond James Financial Inc. significantly increased its holdings in Perimeter Solutions, SA by 364.0% during the 1st quarter, now owning approximately 0.62% of the company, valued at $9.3 million.
• Analysts have set mixed ratings for the stock, with Morgan Stanley raising their price target from $17 to $25 and Wall Street Zen downgrading their rating from "buy" to "hold."
• Perimeter Solutions reported $0.39 earnings per share in its latest quarterly results, surpassing expectations, along with a revenue of $162.64 million, significantly higher than estimates.

Raymond James Financial Inc. grew its position in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 364.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 926,084 shares of the company's stock after purchasing an additional 726,484 shares during the period. Raymond James Financial Inc. owned approximately 0.62% of Perimeter Solutions worth $9,326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRM. Pacer Advisors Inc. bought a new position in Perimeter Solutions in the 1st quarter worth about $13,743,000. Dimensional Fund Advisors LP grew its position in Perimeter Solutions by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,113,380 shares of the company's stock worth $39,789,000 after purchasing an additional 579,987 shares during the last quarter. AQR Capital Management LLC grew its position in Perimeter Solutions by 752.4% in the 4th quarter. AQR Capital Management LLC now owns 636,144 shares of the company's stock worth $8,130,000 after purchasing an additional 561,515 shares during the last quarter. Nuveen LLC bought a new position in Perimeter Solutions in the 1st quarter worth about $3,515,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Perimeter Solutions in the 1st quarter worth about $3,479,000. Institutional investors own 89.93% of the company's stock.

Insider Activity at Perimeter Solutions

In other news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of Perimeter Solutions stock in a transaction that occurred 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 owned 21,854,600 shares in the company, valued at $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 10.00% of the company's stock.

Perimeter Solutions Price Performance

PRM stock traded up $0.12 on Thursday, hitting $22.13. 1,159,058 shares of the company's stock traded hands, compared to its average volume of 1,175,389. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $23.79. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 51.46 and a beta of 2.00. The stock has a fifty day moving average of $17.47 and a 200-day moving average of $13.16. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57.

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

Analysts Set New Price Targets

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

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.