Vanguard Group Inc. Acquires 156,788 Shares of Perimeter Solutions, SA $PRM

Key Points

• Vanguard increased its stake in Perimeter Solutions by 1.9% in the fourth quarter, buying 156,788 additional shares and bringing its total holdings to 8.57 million shares, worth about $235.95 million.
• Analyst sentiment is generally positive, with recent upgrades from Wall Street Zen and Zacks Research, while UBS raised its price target to $34.00; the stock currently carries a consensus rating of Moderate Buy.
• Perimeter Solutions reported stronger-than-expected quarterly results, posting EPS of $0.06 versus the $0.02 estimate and revenue of $125.07 million, though the company still showed a negative net margin.

Vanguard Group Inc. grew its holdings in Perimeter Solutions, SA (NYSE:PRM - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,570,699 shares of the company's stock after buying an additional 156,788 shares during the quarter. Vanguard Group Inc. owned approximately 5.79% of Perimeter Solutions worth $235,951,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PRM. Concurrent Investment Advisors LLC purchased a new position in shares of Perimeter Solutions during the fourth quarter valued at approximately $257,000. Wingate Wealth Advisors Inc. purchased a new stake in Perimeter Solutions in the fourth quarter worth $211,000. HB Wealth Management LLC bought a new stake in Perimeter Solutions in the fourth quarter valued at $225,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Perimeter Solutions by 239.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company's stock valued at $1,524,000 after purchasing an additional 38,703 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in Perimeter Solutions by 245.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 209,129 shares of the company's stock valued at $5,755,000 after purchasing an additional 148,529 shares during the period. 89.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PRM has been the subject of several research analyst reports. Wall Street Zen raised shares of Perimeter Solutions from a "hold" rating to a "buy" rating in a research report on Saturday. Zacks Research upgraded shares of Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Weiss Ratings downgraded shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Monday, March 2nd. Finally, UBS Group lifted their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.50.

Perimeter Solutions Stock Performance

Shares of PRM opened at $31.90 on Friday. The company has a quick ratio of 2.42, a current ratio of 3.22 and a debt-to-equity ratio of 0.60. The stock has a market cap of $5.20 billion, a P/E ratio of -23.80 and a beta of 1.93. The business's 50 day moving average price is $25.37 and its 200-day moving average price is $26.20. Perimeter Solutions, SA has a 52 week low of $11.49 and a 52 week high of $32.02.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The company had revenue of $125.07 million during the quarter, compared to analyst estimates of $121.80 million. Perimeter Solutions had a positive return on equity of 18.55% and a negative net margin of 26.93%. Equities research analysts anticipate that Perimeter Solutions, SA will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In other news, Director William N. Thorndike, Jr. sold 125,000 shares of the firm's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the completion of the transaction, the director directly owned 8,735,656 shares in the company, valued at $204,152,280.72. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 450,000 shares of company stock worth $10,722,750 in the last ninety days. 13.10% of the stock is owned by company insiders.

About Perimeter Solutions

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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