Wellington Management Group LLP Invests $22.16 Million in Perimeter Solutions, SA $PRM

Key Points

• Wellington Management purchased 621,669 shares of Perimeter Solutions valued at approximately $22.16 million, giving it a 0.38% stake. Institutional investors collectively own about 89.93% of the company.
• Analyst sentiment is mixed: Perimeter Solutions has a consensus “Hold” rating and an average price target of $41.75, while recent recommendations ranged from “strong sell” to “overweight.”
• The company’s latest quarterly results fell short of expectations, with earnings per share of $0.35 versus a $0.43 estimate and revenue of $213.81 million versus $216.89 million expected. Meanwhile, insiders sold approximately $195.6 million of stock over the past three months.

Wellington Management Group LLP purchased a new stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 621,669 shares of the company's stock, valued at approximately $22,162,000. Wellington Management Group LLP owned approximately 0.38% of Perimeter Solutions at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PRM shares. Zacks Research lowered shares of Perimeter Solutions from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Wall Street Zen downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. decreased their price target on Perimeter Solutions from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Morgan Stanley upped their price target on Perimeter Solutions from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Finally, Weiss Ratings cut Perimeter Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $41.75.

Perimeter Solutions Trading Up 0.5%

Perimeter Solutions stock opened at $31.91 on Monday. Perimeter Solutions, SA has a 52-week low of $19.70 and a 52-week high of $38.17. The company has a market cap of $5.22 billion, a P/E ratio of -14.31 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. The business has a 50-day simple moving average of $33.30 and a two-hundred day simple moving average of $30.27.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $213.81 million during 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%. Analysts predict that Perimeter Solutions, SA will post 1.54 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of Perimeter Solutions stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the transaction, the insider owned 16,148,621 shares in the company, valued at $547,438,251.90. This trade represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 5,705,979 shares of company stock worth $195,617,982 over the last three months. 13.10% of the stock is currently owned by corporate 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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