VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Perimeter Solutions, SA $PRM

Key Points

• Virginia Retirement Systems purchased 34,550 shares of Perimeter Solutions valued at approximately $1.23 million in the second quarter. Institutional investors and hedge funds collectively own 89.93% of the company.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $41.75, with recent ratings ranging from “market outperform” to “strong sell.”
• Perimeter Solutions missed quarterly earnings expectations, reporting $0.35 in EPS versus the $0.43 consensus and revenue of $213.81 million versus $216.89 million expected. Shares opened at $31.67, while an insider recently sold $117.6 million worth of stock.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Perimeter Solutions, SA (NYSE:PRM - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 34,550 shares of the company's stock, valued at approximately $1,232,000.

Several other hedge funds also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in Perimeter Solutions in the 2nd quarter worth approximately $26,000. Arax Advisory Partners grew its stake in Perimeter Solutions by 122.8% during the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company's stock worth $29,000 after buying an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company's stock worth $31,000 after purchasing an additional 389 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of Perimeter Solutions in the second quarter worth about $42,000. Finally, Comerica Bank grew its stake in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company's stock valued at $43,000 after buying an additional 1,324 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRM. CJS Securities started coverage on Perimeter Solutions in a research report on Tuesday, June 9th. They set a "market outperform" rating and a $48.00 price target on the stock. Zacks Research lowered shares of Perimeter Solutions from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. JPMorgan Chase & Co. decreased their target price on shares of Perimeter Solutions from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Weiss Ratings lowered shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $41.75.

Insider Buying and Selling

In other Perimeter Solutions news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $34.66, for a total transaction of $117,617,982.14. Following the completion of the sale, the insider owned 18,461,121 shares in the company, valued at $639,862,453.86. The trade was a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 5,705,979 shares of company stock valued at $195,617,982 over the last three months. Insiders own 13.10% of the company's stock.

Perimeter Solutions Stock Up 3.7%

Shares of Perimeter Solutions stock opened at $31.67 on Friday. The business has a 50-day moving average price of $33.03 and a 200 day moving average price of $30.41. Perimeter Solutions, SA has a fifty-two week low of $19.70 and a fifty-two week high of $38.17. The firm has a market cap of $5.18 billion, a P/E ratio of -14.20 and a beta of 1.90. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). The firm had revenue of $213.81 million for the quarter, compared to the consensus estimate of $216.89 million. Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%. On average, sell-side analysts forecast that Perimeter Solutions, SA will post 1.54 earnings per share for the current fiscal year.

Perimeter Solutions Company Profile

Perimeter Solutions, Inc is a specialty chemicals and fire-safety company that develops, manufactures and supplies products used in wildfire control, industrial fire protection and chemical applications. The company serves customers across North America and international markets through a portfolio of fire-safety and specialty chemical products.

Its fire-safety business provides firefighting foams, fire retardants and related solutions for wildland firefighting, aviation, military, industrial and municipal applications.

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