Perimeter Solutions (NYSE:PRM) CFO Kyle Sable Sells 150,000 Shares

Perimeter Solutions, SA (NYSE:PRM) CFO Kyle Sable sold 150,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $31.52, for a total transaction of $4,728,000.00. Following the sale, the chief financial officer directly owned 20,000 shares of the company’s stock, valued at approximately $630,400. The trade was a 88.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kyle Sable also recently made the following trade(s):

• On Monday, May 11th, Kyle Sable sold 20,460 shares of Perimeter Solutions stock. The shares were sold at an average price of $32.89, for a total value of $672,929.40.
• On Tuesday, May 12th, Kyle Sable sold 30,000 shares of Perimeter Solutions stock. The stock was sold at an average price of $31.75, for a total value of $952,500.00.

Perimeter Solutions Stock Performance

Shares of NYSE PRM traded down $0.07 during trading on Tuesday, hitting $32.09. The company had a trading volume of 1,431,547 shares, compared to its average volume of 1,099,286. The stock has a 50 day simple moving average of $25.65 and a 200 day simple moving average of $26.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.42 and a current ratio of 3.22. Perimeter Solutions, SA has a 12 month low of $11.55 and a 12 month high of $34.29. The firm has a market capitalization of $5.23 billion, a P/E ratio of -23.95 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.55% and a negative net margin of 26.93%.The company had revenue of $125.07 million during the quarter, compared to the consensus estimate of $121.80 million. As a group, analysts anticipate that Perimeter Solutions, SA will post 1.47 earnings per share for the current year.

Institutional Investors Weigh In On Perimeter Solutions

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in Perimeter Solutions in the 3rd quarter worth approximately $27,000. Arax Advisory Partners grew its holdings 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 valued at $29,000 after purchasing an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in 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 in the last quarter. EverSource Wealth Advisors LLC bought a new position in Perimeter Solutions during the second quarter valued at $42,000. Finally, Comerica Bank grew its stake in shares of 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 in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRM has been the topic of a number of recent analyst reports. Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Morgan Stanley lifted their target price on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group boosted their price target on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.