Perimeter Solutions (NYSE:PRM) Issues Quarterly Earnings Results

Key Points

• Perimeter Solutions reported **$0.39 earnings per share** for the quarter, exceeding the consensus estimate of **$0.28** by **$0.11**, alongside a revenue of **$162.64 million**, surpassing analyst predictions of **$108.91 million**.
• Despite positive earnings, **Wall Street analysts** have mixed ratings, with UBS increasing their target price to **$20.00** while others, like Morgan Stanley, decreased their price target from **$18.00 to $17.00**.
• Insider activity includes Director **Vivek Raj** selling **32,000 shares** at an average price of **$11.70**, while major shareholder **Windacre Partnership Master Fu** purchased **254,600 shares** at an average of **$13.98**.

Perimeter Solutions (NYSE:PRM - Get Free Report) issued its earnings results on Thursday. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.11, Zacks reports. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.13%. The company had revenue of $162.64 million for the quarter, compared to analyst estimates of $108.91 million.

Perimeter Solutions Price Performance

Shares of PRM stock traded up $1.08 during trading hours on Friday, hitting $17.94. The company's stock had a trading volume of 1,970,203 shares, compared to its average volume of 1,032,866. The business has a fifty day moving average of $14.98 and a 200-day moving average of $12.21. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 41.73 and a beta of 1.96. Perimeter Solutions has a twelve month low of $8.76 and a twelve month high of $18.13. The company has a current ratio of 5.23, a quick ratio of 3.56 and a debt-to-equity ratio of 0.55.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PRM. 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 upped their target price on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley lowered their price target on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th.

Insider Activity at Perimeter Solutions

In other news, Director Vivek Raj sold 32,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $11.70, for a total value of $374,400.00. Following the sale, the director directly owned 68,132 shares in the company, valued at $797,144.40. This represents a 31.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the stock in a transaction dated Friday, June 27th. The stock was acquired at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the completion of the transaction, the insider directly owned 21,854,600 shares of the company's stock, valued at approximately $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 303,094 shares of company stock worth $3,587,021 over the last quarter. Company insiders own 10.00% of the company's stock.

Institutional Trading of Perimeter Solutions

A number of hedge funds have recently bought and sold shares of PRM. Comerica Bank boosted its position in Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after acquiring an additional 1,324 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Perimeter Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company's stock worth $801,000 after acquiring an additional 3,428 shares during the last quarter. Royal Bank of Canada boosted its position in Perimeter Solutions by 100.0% during the first quarter. Royal Bank of Canada now owns 80,608 shares of the company's stock worth $812,000 after acquiring an additional 40,294 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Perimeter Solutions by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company's stock worth $3,305,000 after acquiring an additional 14,949 shares during the last quarter. Institutional investors and hedge funds 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.

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