Perimeter Solutions (NYSE:PRM) Reaches New 1-Year High - Here's What Happened

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $15.33 and last traded at $15.26, with a volume of 2039982 shares changing hands. The stock had previously closed at $14.07.

Analysts Set New Price Targets

A number of analysts recently issued reports on PRM shares. UBS Group upgraded Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price target for the company in a research report on Wednesday, March 26th. Morgan Stanley lowered their target price on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, Wall Street Zen cut shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

Perimeter Solutions Trading Up 1.3%

The stock has a fifty day moving average of $12.25 and a 200-day moving average of $11.57. The company has a market cap of $2.28 billion, a PE ratio of 19.58 and a beta of 1.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.56 and a current ratio of 5.23.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.12. The firm had revenue of $72.03 million for the quarter, compared to analysts' expectations of $75.00 million. Perimeter Solutions had a net margin of 23.23% and a negative return on equity of 4.33%. Sell-side analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Insider Transactions at Perimeter Solutions

In other news, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were bought at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vivek Raj sold 100,000 shares of Perimeter Solutions stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.78, for a total value of $1,178,000.00. Following the sale, the director directly owned 168,942 shares of the company's stock, valued at approximately $1,990,136.76. This trade represents a 37.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,094 shares of company stock worth $3,587,021 over the last 90 days. Insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 4,744,069 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Perimeter Solutions in the 4th quarter valued at about $41,780,000. Pacer Advisors Inc. bought a new stake in shares of Perimeter Solutions in the 1st quarter valued at about $13,743,000. JPMorgan Chase & Co. lifted its position in shares of Perimeter Solutions by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock worth $74,847,000 after purchasing an additional 971,623 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Perimeter Solutions by 10,103.3% in the 4th quarter. Bessemer Group Inc. now owns 923,811 shares of the company's stock worth $11,806,000 after purchasing an additional 914,757 shares during the period. Institutional investors own 89.93% of the company's stock.

Perimeter Solutions Company 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.