Vanguard Group Inc. Buys 147,336 Shares of Perimeter Solutions, SA $PRM

Key Points

• Vanguard Group Inc. increased its stake in Perimeter Solutions, SA to 8,358,929 shares, representing a 1.8% boost, with a total value of $84.17 million at the end of the latest quarter.
• Perimeter Solutions reported earnings of $0.39 per share, significantly exceeding analysts' expectations of $0.28, with revenues of $162.64 million for the quarter.
• Institutional investors hold a substantial 89.93% of Perimeter Solutions' stock, showcasing heavy interest from other funds in addition to Vanguard's holdings.

Vanguard Group Inc. lifted its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 1.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,358,929 shares of the company's stock after acquiring an additional 147,336 shares during the quarter. Vanguard Group Inc. owned 5.62% of Perimeter Solutions worth $84,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Comerica Bank bought a new position in shares of Perimeter Solutions in the fourth quarter worth $38,000. Harbor Investment Advisory LLC boosted its holdings in shares of Perimeter Solutions by 25.6% in the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company's stock worth $94,000 after acquiring an additional 1,899 shares during the period. Xponance Inc. bought a new position in shares of Perimeter Solutions in the first quarter worth $101,000. Gilbert & Cook Inc. bought a new position in shares of Perimeter Solutions in the first quarter worth $104,000. Finally, Quantinno Capital Management LP bought a new position in shares of Perimeter Solutions in the fourth quarter worth $136,000. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Stock Up 0.5%

Perimeter Solutions stock traded up $0.12 during trading hours on Thursday, hitting $21.92. 1,140,552 shares of the stock traded hands, compared to its average volume of 1,163,536. The firm's 50-day moving average price is $16.60 and its two-hundred day moving average price is $12.81. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.21 billion, a PE ratio of 50.97 and a beta of 1.96. Perimeter Solutions, SA has a one year low of $8.76 and a one year high of $22.06.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $162.64 million for the quarter, compared to analysts' expectations of $108.91 million. On average, research analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports 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 research note on Monday. UBS Group lifted their price objective 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 downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $22.50.

Insider Activity at Perimeter Solutions

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

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.