Rhumbline Advisers Sells 13,890 Shares of Perimeter Solutions, SA $PRM

Key Points

• Rhumbline Advisers reduced its stake in Perimeter Solutions, decreasing ownership by 6.7% in the first quarter, now holding 194,299 shares valued at approximately $1.96 million.
• Insider Jeffrey Emery sold 300,000 shares of Perimeter Solutions for $6.68 million, contributing to a total of 365,000 shares sold by insiders, worth over $8.12 million in the last ninety days.
• Analysts have mixed sentiments, with UBS increasing the price target to $20 and Morgan Stanley to $25, while others lowered the rating from "buy" to "hold," reflecting varying confidence in Perimeter Solutions' future performance.

Rhumbline Advisers lowered its position in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 194,299 shares of the company's stock after selling 13,890 shares during the quarter. Rhumbline Advisers owned 0.13% of Perimeter Solutions worth $1,957,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PRM. Comerica Bank boosted its position in shares of Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock valued at $43,000 after purchasing an additional 1,324 shares during the period. Harbor Investment Advisory LLC boosted its position in shares of Perimeter Solutions by 25.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock valued at $94,000 after purchasing an additional 1,899 shares during the period. Xponance Inc. acquired a new stake in Perimeter Solutions during the 1st quarter worth about $101,000. Gilbert & Cook Inc. acquired a new stake in Perimeter Solutions during the 1st quarter worth about $104,000. Finally, New York State Teachers Retirement System acquired a new stake in Perimeter Solutions during the 1st quarter worth about $123,000. Institutional investors and hedge funds own 89.93% of the company's stock.

Perimeter Solutions Stock Performance

PRM traded down $0.23 during midday trading on Friday, reaching $21.81. The company's stock had a trading volume of 2,347,178 shares, compared to its average volume of 1,398,763. The stock has a market cap of $3.19 billion, a P/E ratio of 50.72 and a beta of 2.00. The company has a fifty day simple moving average of $19.16 and a 200 day simple moving average of $14.18. 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, SA has a twelve month low of $8.76 and a twelve month high of $23.79.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Wall Street Zen downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, UBS Group raised their price target on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Perimeter Solutions has an average rating of "Buy" and an average price target of $22.50.

Insider Transactions at Perimeter Solutions

In related news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were acquired at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the purchase, the insider directly owned 21,854,600 shares in the company, valued at $305,527,308. This represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Vivek Raj sold 25,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $22.45, for a total value of $561,250.00. Following the completion of the sale, the director directly owned 121,701 shares in the company, valued at approximately $2,732,187.45. This represents a 17.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 365,000 shares of company stock worth $8,127,250 over the last quarter. 10.00% of the stock is owned by company 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.