Wealth Enhancement Advisory Services LLC Takes $3.48 Million Position in Perimeter Solutions, SA (NYSE:PRM)

Wealth Enhancement Advisory Services LLC bought a new stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 345,471 shares of the company's stock, valued at approximately $3,479,000. Wealth Enhancement Advisory Services LLC owned 0.23% of Perimeter Solutions as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PRM. Vanguard Group Inc. grew its position in shares of Perimeter Solutions by 136.8% in the fourth quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company's stock valued at $104,944,000 after purchasing an additional 4,744,069 shares during the period. JPMorgan Chase & Co. boosted its position in Perimeter Solutions by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock worth $74,847,000 after acquiring an additional 971,623 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Perimeter Solutions during the fourth quarter worth about $41,780,000. Dimensional Fund Advisors LP boosted its position in Perimeter Solutions by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,113,380 shares of the company's stock worth $39,789,000 after acquiring an additional 579,987 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Perimeter Solutions by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,025,390 shares of the company's stock worth $38,664,000 after acquiring an additional 327,210 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRM has been the topic of a number of recent research reports. UBS Group upgraded shares of Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price target on the stock in a research report on Wednesday, March 26th. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, 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.

Insider Activity

In other news, Director Vivek Raj sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $11.92, for a total value of $1,192,000.00. Following the sale, the director now directly owns 368,942 shares of the company's stock, valued at approximately $4,397,788.64. The trade was a 21.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 303,094 shares of company stock valued at $3,587,021. Company insiders own 10.00% of the company's stock.

Perimeter Solutions Price Performance

PRM stock opened at $13.95 on Friday. The business has a fifty day moving average of $11.90 and a two-hundred day moving average of $11.54. The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 17.65 and a beta of 1.92. Perimeter Solutions, SA has a 52-week low of $7.49 and a 52-week high of $14.44.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.12. The company had revenue of $72.03 million during the quarter, compared to analysts' expectations of $75.00 million. Perimeter Solutions had a negative return on equity of 4.33% and a net margin of 23.23%. As a group, research analysts anticipate 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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