Sei Investments Co. Increases Stock Position in Perimeter Solutions, SA $PRM

Key Points

• Sei Investments doubled its Perimeter Solutions stake in the first quarter to 90,407 shares, while institutional investors collectively own 89.93% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $41.75, although some firms recently lowered or downgraded their recommendations.
• Perimeter Solutions missed quarterly earnings expectations, reporting $0.35 in EPS versus $0.43 expected, while insiders sold approximately 6.19 million shares worth $211.2 million over the past 90 days.

Sei Investments Co. boosted its position in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 100.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,407 shares of the company's stock after buying an additional 45,227 shares during the quarter. Sei Investments Co. owned approximately 0.06% of Perimeter Solutions worth $2,208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC purchased a new position in shares of Perimeter Solutions in the 4th quarter valued at about $523,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Perimeter Solutions by 239.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company's stock worth $1,524,000 after purchasing an additional 38,703 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in Perimeter Solutions by 395.5% in the third quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company's stock valued at $3,244,000 after purchasing an additional 115,653 shares during the period. Argos Wealth Advisors LLC acquired a new stake in Perimeter Solutions in the fourth quarter valued at approximately $961,000. Finally, Bessemer Group Inc. increased its position in shares of Perimeter Solutions by 61.2% in the first quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company's stock valued at $26,006,000 after buying an additional 404,417 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company's stock.

Wall Street Analysts Forecast Growth

PRM has been the subject of several research analyst reports. Weiss Ratings raised Perimeter Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 29th. CJS Securities began coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They issued a "market outperform" rating and a $48.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Perimeter Solutions from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, August 3rd. UBS Group increased their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Zacks Research lowered shares of Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.75.

Insider Buying and Selling at Perimeter Solutions

In other news, CEO Haitham Khouri sold 117,511 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the transaction, the chief executive officer directly owned 1,874,615 shares of the company's stock, valued at approximately $58,469,241.85. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the transaction, the insider owned 16,148,621 shares in the company, valued at $547,438,251.90. The trade was a 10.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,189,014 shares of company stock worth $211,248,393. Company insiders own 13.10% of the company's stock.

Perimeter Solutions Stock Performance

NYSE PRM opened at $35.25 on Friday. The company has a market cap of $5.77 billion, a PE ratio of -15.81 and a beta of 1.91. The stock's 50 day simple moving average is $34.19 and its 200-day simple moving average is $29.54. Perimeter Solutions, SA has a 1-year low of $16.96 and a 1-year high of $38.17. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.57 and a quick ratio of 1.61.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%.The firm had revenue of $213.81 million for the quarter, compared to analysts' expectations of $216.89 million. As a group, equities research analysts anticipate that Perimeter Solutions, SA will post 1.58 EPS for the current fiscal year.

Perimeter Solutions Company Profile

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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