Perimeter Solutions, SA $PRM Shares Sold by Equitable Trust Co.

Equitable Trust Co. lowered its stake in shares of Perimeter Solutions, SA (NYSE:PRM) by 13.7% during the first quarter, HoldingsChannel.com reports. The firm owned 1,653,187 shares of the company’s stock after selling 262,823 shares during the period. Perimeter Solutions comprises approximately 1.9% of Equitable Trust Co.’s holdings, making the stock its 10th biggest holding. Equitable Trust Co.’s holdings in Perimeter Solutions were worth $40,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Abacus Wealth Partners LLC purchased a new position in shares of Perimeter Solutions in the 4th quarter worth $523,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Perimeter Solutions by 239.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock valued at $1,524,000 after acquiring an additional 38,703 shares during the last quarter. Tudor Investment Corp ET AL grew its position in Perimeter Solutions by 395.5% during the third quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock valued at $3,244,000 after acquiring an additional 115,653 shares during the period. Argos Wealth Advisors LLC purchased a new stake in Perimeter Solutions during the fourth quarter valued at about $961,000. Finally, SG Americas Securities LLC increased its stake in Perimeter Solutions by 197.2% during the fourth quarter. SG Americas Securities LLC now owns 230,940 shares of the company’s stock worth $6,358,000 after acquiring an additional 153,228 shares during the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.

Insider Activity

In other news, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total transaction of $3,665,168.09. Following the sale, the chief executive officer owned 1,874,615 shares in the company, valued at $58,469,241.85. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the transaction, the insider directly owned 16,148,621 shares in the company, valued at approximately $547,438,251.90. The trade was a 10.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,385,514 shares of company stock worth $217,464,393 over the last three months. Insiders own 13.10% of the company’s stock.

Perimeter Solutions Price Performance

PRM stock opened at $35.13 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. Perimeter Solutions, SA has a 1 year low of $15.43 and a 1 year high of $38.17. The firm has a market cap of $5.73 billion, a P/E ratio of -26.22 and a beta of 1.90. The stock has a 50-day simple moving average of $33.19 and a 200-day simple moving average of $28.67.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. On average, equities analysts predict that Perimeter Solutions, SA will post 1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PRM shares. CJS Securities started coverage on Perimeter Solutions in a research note on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price objective on the stock. Morgan Stanley increased their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research 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. JPMorgan Chase & Co. initiated coverage on shares of Perimeter Solutions in a research report on Thursday. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $43.00.

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.