Perimeter Solutions (NYSE:PRM) Sets 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 company 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

A number of equities research analysts recently issued reports on the stock. UBS Group increased 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. Wall Street Zen cut shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Morgan Stanley lowered their price objective on shares of Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, May 16th.

Perimeter Solutions Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 5.23 and a quick ratio of 3.56. The stock has a market cap of $2.46 billion, a P/E ratio of 21.13 and a beta of 1.95. The company's 50 day simple moving average is $13.99 and its 200 day simple moving average is $11.96.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.12. The firm had revenue of $72.03 million during the quarter, compared to the consensus estimate of $75.00 million. Perimeter Solutions had a net margin of 23.23% and a negative return on equity of 4.33%. As a group, equities analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the company's stock in a transaction on 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 transaction, the insider owned 21,854,600 shares of the company's stock, valued at $305,527,308. The trade was a 1.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vivek Raj sold 32,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $11.70, for a total transaction of $374,400.00. Following the completion of the transaction, the director directly owned 68,132 shares in the company, valued at $797,144.40. The trade was a 31.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 303,094 shares of company stock worth $3,587,021. 10.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perimeter Solutions

Several large investors have recently modified their holdings of PRM. KLP Kapitalforvaltning AS boosted its holdings in Perimeter Solutions by 16.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 30,700 shares of the company's stock valued at $427,000 after purchasing an additional 4,300 shares during the period. Lingohr Asset Management GmbH bought a new stake in Perimeter Solutions in the 2nd quarter valued at about $221,000. Strs Ohio acquired a new stake in Perimeter Solutions during the first quarter worth about $328,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 buying an additional 14,949 shares in the last quarter. Finally, TenCore Partners LP acquired a new stake in Perimeter Solutions during the first quarter worth about $3,174,000. 89.93% of the stock is owned by institutional investors.

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.