Perimeter Solutions, SA $PRM Stock Holdings Lessened by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Perimeter Solutions, SA by 27.7% in Q1, selling 234,165 shares, leaving it with a total of 609,866 shares valued at approximately $6.14 million.
• Analysts are optimistic about Perimeter Solutions, with UBS and Morgan Stanley raising their target prices to $20.00 and $25.00 respectively, while the company holds a consensus buy rating with a price target of $22.50.
• Perimeter Solutions recently reported an EPS of $0.39 for the last quarter, exceeding expectations of $0.28, and had a revenue of $162.64 million, significantly above the projected $108.91 million.

Wellington Management Group LLP reduced its stake in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 27.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 609,866 shares of the company's stock after selling 234,165 shares during the quarter. Wellington Management Group LLP owned 0.41% of Perimeter Solutions worth $6,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Comerica Bank acquired a new stake in shares of Perimeter Solutions in the fourth quarter valued at approximately $38,000. Harbor Investment Advisory LLC grew its position 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 valued at $94,000 after purchasing an additional 1,899 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Perimeter Solutions in the first quarter valued at approximately $101,000. Gilbert & Cook Inc. acquired a new stake in shares of Perimeter Solutions in the first quarter valued at approximately $104,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Perimeter Solutions in the first quarter valued at approximately $123,000. 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 several research reports. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. UBS Group increased their price target on shares of Perimeter Solutions from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley lifted their target price on shares of Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Perimeter Solutions currently has a consensus rating of "Buy" and an average price target of $22.50.

Perimeter Solutions Trading Down 0.1%

Shares of PRM stock traded down $0.03 during mid-day trading on Tuesday, reaching $22.36. The company's stock had a trading volume of 622,248 shares, compared to its average volume of 1,168,115. The company's 50 day simple moving average is $17.13 and its 200-day simple moving average is $13.04. Perimeter Solutions, SA has a 12-month low of $8.76 and a 12-month high of $22.50. The company has a quick ratio of 2.60, a current ratio of 4.04 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $3.28 billion, a PE ratio of 52.01 and a beta of 2.00.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.11. The business had revenue of $162.64 million for the quarter, compared to the consensus estimate of $108.91 million. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. On average, research analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was acquired at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the acquisition, the insider owned 21,854,600 shares in the company, valued at approximately $305,527,308. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.00% of the company's stock.

About Perimeter Solutions

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.