William Thorndike Jr Sells 100,000 Shares of Perimeter Solutions (NYSE:PRM) Stock

Key Points

• William Thorndike Jr sold 100,000 shares of Perimeter Solutions at an average price of $24.06 for roughly $2.41M, trimming his stake by 1.10% while still owning about 8.96 million shares valued near $215.6M.
• PRM shares fell about 3.5% to $23.49 on higher-than-average volume (1.15M shares), giving the company a market capitalization of approximately $3.51 billion and a beta of 1.98.
• Perimeter beat quarterly estimates (EPS $0.13 vs. $0.09; revenue $102.75M vs. $94.05M) but reported a negative net margin (-31.6%); analysts are mixed with an average rating of "Hold" and a $30.50 target.

Perimeter Solutions, SA (NYSE:PRM - Get Free Report) Director William Thorndike, Jr. sold 100,000 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $24.06, for a total value of $2,406,000.00. Following the completion of the sale, the director owned 8,960,656 shares in the company, valued at approximately $215,593,383.36. The trade was a 1.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Perimeter Solutions Stock Down 3.5%

Shares of NYSE:PRM traded down $0.84 on Friday, hitting $23.49. 1,152,961 shares of the company's stock were exchanged, compared to its average volume of 970,795. The firm's 50-day moving average is $26.97 and its 200 day moving average is $24.98. The company has a market capitalization of $3.51 billion, a PE ratio of -16.54 and a beta of 1.98. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $29.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.72 and a current ratio of 3.22.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. The company had revenue of $102.75 million during the quarter, compared to the consensus estimate of $94.05 million. Sell-side analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Perimeter Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new stake in Perimeter Solutions in the 3rd quarter valued at about $27,000. 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 period. Northwestern Mutual Wealth Management Co. lifted its holdings in Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company's stock valued at $31,000 after acquiring an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions during the second quarter valued at approximately $42,000. Finally, Comerica Bank increased its stake 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 purchasing an additional 1,324 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on PRM shares. UBS Group decreased their price objective on Perimeter Solutions from $31.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday. Zacks Research lowered Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 17th. Morgan Stanley set a $35.00 price objective on shares of Perimeter Solutions in a research report on Monday, December 15th. Finally, Weiss Ratings lowered shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a report on Monday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Perimeter Solutions currently has an average rating of "Hold" and an average target price of $30.50.

Perimeter Solutions Company Profile

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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