US Bancorp DE Acquires 21,036 Shares of Perimeter Solutions, SA (NYSE: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 increased its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 737.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,890 shares of the company's stock after buying 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 quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Summit Investment Advisors Inc. raised its stake in shares of Perimeter Solutions by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company's stock worth $179,000 after buying an additional 889 shares during the last quarter. Procyon Advisors LLC raised its stake in shares of Perimeter Solutions by 14.6% during the first quarter. Procyon Advisors LLC now owns 14,912 shares of the company's stock worth $150,000 after buying an additional 1,897 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Perimeter Solutions by 25.6% during the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock worth $94,000 after buying an additional 1,899 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of Perimeter Solutions by 11.8% during the fourth quarter. Townsquare Capital LLC now owns 21,370 shares of the company's stock worth $273,000 after buying an additional 2,258 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Perimeter Solutions by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,118 shares of the company's stock worth $973,000 after buying an additional 2,641 shares during the last quarter. 89.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. UBS Group upped their target price on shares of Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th.

Insider Activity at Perimeter Solutions

In related news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of Perimeter Solutions stock in a transaction dated Friday, June 27th. The stock was 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 represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vivek Raj sold 32,000 shares of the company's stock in a transaction that occurred on 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 owned 68,132 shares of the company's stock, valued at $797,144.40. This trade represents a 31.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,810 shares of company stock valued at $2,367,110 in the last ninety days. Insiders own 10.00% of the company's stock.

Perimeter Solutions Stock Up 0.1%

Shares of NYSE:PRM opened at $18.53 on Friday. Perimeter Solutions, SA has a 52 week low of $8.76 and a 52 week high of $18.69. 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 has a market capitalization of $2.71 billion, a PE ratio of 43.09 and a beta of 1.96. The company has a 50 day moving average price of $15.45 and a two-hundred day moving average price of $12.35.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its 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 firm had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. Analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

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.

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