Perimeter Solutions (NYSE:PRM) Director Sells $2,363,000.00 in Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $23.63, for a total transaction of $2,363,000.00. Following the completion of the transaction, the director directly owned 8,635,656 shares in the company, valued at $204,060,551.28. This represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Perimeter Solutions Stock Performance

Shares of PRM stock opened at $22.79 on Friday. The company has a market cap of $3.40 billion, a P/E ratio of -16.05 and a beta of 1.98. The business has a 50 day moving average of $26.44 and a two-hundred day moving average of $25.16. Perimeter Solutions, SA has a 52 week low of $8.76 and a 52 week high of $29.88. The company has a quick ratio of 2.42, a current ratio of 3.22 and a debt-to-equity ratio of 0.60.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $102.75 million for the quarter, compared to analysts’ expectations of $94.05 million. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%. As a group, analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Institutional Trading of Perimeter Solutions

Several large investors have recently added to or reduced their stakes in PRM. Jones Financial Companies Lllp bought a new stake in Perimeter Solutions during the 3rd quarter valued at $27,000. Arax Advisory Partners grew its stake in shares of Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after purchasing an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after purchasing an additional 389 shares during the period. EverSource Wealth Advisors LLC acquired a new position in shares of Perimeter Solutions during the second quarter valued at $42,000. Finally, Comerica Bank raised its stake in shares of Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $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.

Wall Street Analyst Weigh In

PRM has been the topic of several analyst reports. Morgan Stanley set a $35.00 target price on Perimeter Solutions in a research report on Monday, December 15th. Zacks Research downgraded shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. Weiss Ratings cut shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Finally, UBS Group cut their price objective on shares of Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.50.

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.