Perimeter Solutions (NYSE:PRM) Hits New 52-Week High - What's Next?

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.40 and last traded at $17.21, with a volume of 851258 shares traded. The stock had previously closed at $17.06.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Perimeter Solutions from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. UBS Group upped their price target on 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 decreased their price objective on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th.

Perimeter Solutions Trading Up 0.4%

The company has a current ratio of 5.23, a quick ratio of 3.56 and a debt-to-equity ratio of 0.55. The company has a market cap of $2.49 billion, a PE ratio of 21.34 and a beta of 1.95. The stock has a 50 day moving average price of $14.09 and a 200 day moving average price of $12.00.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.03 earnings per share (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 the consensus estimate of $75.00 million. Perimeter Solutions had a negative return on equity of 4.33% and a net margin of 23.23%. Sell-side analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of Perimeter Solutions stock in a transaction dated Friday, June 27th. The shares were purchased at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the acquisition, the insider owned 21,854,600 shares of the company's stock, valued at $305,527,308. This trade represents a 1.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vivek Raj sold 100,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was 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 in the company, valued at $1,990,136.76. The trade was a 37.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,094 shares of company stock worth $3,587,021 over the last 90 days. Company insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds have recently made changes to their positions in PRM. Summit Investment Advisors Inc. boosted its stake in shares of Perimeter Solutions by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,000 shares of the company's stock worth $179,000 after acquiring an additional 889 shares in the last quarter. Comerica Bank boosted its holdings in Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company's stock worth $43,000 after buying an additional 1,324 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Perimeter Solutions by 14.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 11,794 shares of the company's stock worth $151,000 after buying an additional 1,519 shares during the last quarter. Sei Investments Co. boosted its holdings in Perimeter Solutions by 2.2% in the 4th quarter. Sei Investments Co. now owns 89,063 shares of the company's stock worth $1,138,000 after buying an additional 1,884 shares during the last quarter. Finally, Procyon Advisors LLC boosted its holdings in Perimeter Solutions by 14.6% in the 1st quarter. Procyon Advisors LLC now owns 14,912 shares of the company's stock worth $150,000 after buying an additional 1,897 shares during the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

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.