Russell Investments Group Ltd. Takes $842,000 Position in Perimeter Solutions, SA $PRM

Key Points

• Russell Investments Group Ltd. purchased 83,633 shares of Perimeter Solutions, valued at approximately $842,000, increasing its ownership to 0.06% as of the end of the recent quarter.
• Major shareholder Windacre Partnership Master Fu acquired 254,600 shares for about $3.56 million, boosting their total ownership to 21,854,600 shares, worth over $305 million.
• Perimeter Solutions reported $0.39 earnings per share for the last quarter, exceeding analysts' estimates, and is forecasted to post 0.71 earnings per share for the current year.

Russell Investments Group Ltd. acquired a new stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 83,633 shares of the company's stock, valued at approximately $842,000. Russell Investments Group Ltd. owned 0.06% of Perimeter Solutions at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Perimeter Solutions in the first quarter valued at $3,515,000. Aigen Investment Management LP bought a new position in Perimeter Solutions in the first quarter valued at about $161,000. CenterBook Partners LP bought a new position in Perimeter Solutions in the first quarter valued at about $927,000. Deutsche Bank AG boosted its holdings in Perimeter Solutions by 198.5% in the first quarter. Deutsche Bank AG now owns 355,796 shares of the company's stock valued at $3,583,000 after acquiring an additional 236,589 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Perimeter Solutions by 1.8% during the first quarter. Vanguard Group Inc. now owns 8,358,929 shares of the company's stock worth $84,174,000 after buying an additional 147,336 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Perimeter Solutions Trading Up 1.3%

Shares of PRM stock traded up $0.29 on Thursday, hitting $22.30. The company had a trading volume of 2,113,789 shares, compared to its average volume of 1,379,830. The firm has a market cap of $3.27 billion, a P/E ratio of 51.86 and a beta of 2.00. The stock's 50-day moving average is $17.64 and its two-hundred day moving average is $13.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.60 and a current ratio of 4.04. 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 issued its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%.The company had revenue of $162.64 million during the quarter, compared to analysts' expectations of $108.91 million. On average, equities research analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In related news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the company's stock in a transaction dated Friday, June 27th. The shares were bought at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the completion of the acquisition, the insider directly owned 21,854,600 shares of the company's stock, valued at $305,527,308. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRM. Morgan Stanley lifted their price objective on Perimeter Solutions from $17.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, August 25th. UBS Group boosted their target price on Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen lowered Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Perimeter Solutions currently has a consensus rating of "Buy" and a consensus target price 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.