US Bancorp DE Boosts Holdings in Perimeter Solutions, SA $PRM

Key Points

• US Bancorp DE increased its stake in Perimeter Solutions by 737.1%, acquiring 21,036 shares, bringing its total ownership to 23,890 shares valued at $241,000.
• Institutional investors own a significant portion of Perimeter Solutions, with 89.93% of the stock held by them, indicating strong institutional interest.
• Perimeter Solutions reported $162.64 million in revenue for the last quarter, significantly exceeding the consensus estimate of $108.91 million, with an EPS of $0.39.

US Bancorp DE raised its position in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 737.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,890 shares of the company's stock after acquiring an additional 21,036 shares during the period. US Bancorp DE's holdings in Perimeter Solutions were worth $241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank acquired a new stake in Perimeter Solutions in the fourth quarter valued at $38,000. Harbor Investment Advisory LLC increased its holdings 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 in the last quarter. Xponance Inc. acquired a new stake in shares of Perimeter Solutions in the first quarter valued at about $101,000. Gilbert & Cook Inc. purchased a new stake in Perimeter Solutions during the first quarter worth about $104,000. Finally, New York State Teachers Retirement System acquired a new position in Perimeter Solutions during the first quarter worth about $123,000. Hedge funds and other institutional investors own 89.93% of the company's stock.

Analysts Set New Price Targets

PRM has been the subject of a number of research reports. Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. UBS Group raised their price objective on Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley decreased their target price on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th.

Perimeter Solutions Price Performance

NYSE PRM traded down $0.18 during trading hours on Tuesday, reaching $18.47. The company's stock had a trading volume of 86,782 shares, compared to its average volume of 1,145,899. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.60 and a current ratio of 4.04. The company's 50-day moving average is $15.68 and its two-hundred day moving average is $12.43. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $18.77. The stock has a market cap of $2.70 billion, a PE ratio of 43.01 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released 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. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. The business had revenue of $162.64 million for the quarter, compared to analyst estimates of $108.91 million. Analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Windacre Partnership Master Fu acquired 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 completion of the purchase, the insider directly owned 21,854,600 shares in the company, valued at approximately $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vivek Raj sold 32,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $11.70, for a total transaction of $374,400.00. Following the completion of the transaction, the director directly owned 68,132 shares of the company's stock, valued at $797,144.40. The trade was a 31.96% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate insiders.

Perimeter Solutions Company 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.