Perimeter Solutions (NYSE:PRM) Major Shareholder Sells $117,617,982.14 in Stock

Key Points

• Major shareholder Windacre Partnership LLC sold 3.39 million shares of Perimeter Solutions for about $117.6 million at an average price of $34.66, cutting its ownership by 15.53%.
• Windacre also disclosed additional recent sales on June 29 and June 30, totaling 2.31 million more shares and adding roughly $78.0 million in proceeds.
• Despite the insider selling, PRM shares rose 9.2% to $35.76, and the company recently beat quarterly EPS and revenue estimates while analysts maintain a Buy consensus with a $40.67 price target.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report) major shareholder Windacre Partnership Llc sold 3,393,479 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $34.66, for a total value of $117,617,982.14. Following the transaction, the insider directly owned 18,461,121 shares in the company, valued at approximately $639,862,453.86. This trade represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Windacre Partnership Llc also recently made the following trade(s):

• On Tuesday, June 30th, Windacre Partnership Llc sold 1,875,000 shares of Perimeter Solutions stock. The shares were sold at an average price of $33.90, for a total transaction of $63,562,500.00.
• On Monday, June 29th, Windacre Partnership Llc sold 437,500 shares of Perimeter Solutions stock. The shares were sold at an average price of $33.00, for a total transaction of $14,437,500.00.

Perimeter Solutions Stock Up 9.2%

Shares of NYSE PRM traded up $3.03 during mid-day trading on Tuesday, reaching $35.76. 2,248,133 shares of the company's stock traded hands, compared to its average volume of 1,947,922. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. The business has a 50-day simple moving average of $32.69 and a 200 day simple moving average of $28.38. The stock has a market cap of $5.83 billion, a P/E ratio of -26.68 and a beta of 1.92. Perimeter Solutions, SA has a 1-year low of $13.78 and a 1-year high of $38.17.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. The company had revenue of $125.07 million for the quarter, compared to analyst estimates of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. On average, analysts expect that Perimeter Solutions, SA will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRM. Arax Advisory Partners increased its position in shares of Perimeter Solutions by 122.8% during the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company's stock valued at $29,000 after purchasing an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company's stock worth $31,000 after buying an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Perimeter Solutions by 20.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company's stock valued at $56,000 after buying an additional 383 shares during the period. Larson Financial Group LLC grew its position in Perimeter Solutions by 55.7% during the fourth quarter. Larson Financial Group LLC now owns 2,514 shares of the company's stock valued at $69,000 after buying an additional 899 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in Perimeter Solutions by 56.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,918 shares of the company's stock worth $80,000 after buying an additional 1,051 shares during the last quarter. Institutional investors own 89.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Perimeter Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Perimeter Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, June 17th. CJS Securities initiated coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They set a "market outperform" rating and a $48.00 price target on the stock. Finally, Zacks Research raised shares of Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Perimeter Solutions currently has an average rating of "Buy" and a consensus price target of $40.67.

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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