Perimeter Solutions (NYSE:PRM) Sets New 12-Month High – What’s Next?

Perimeter Solutions, SA (NYSE:PRM) reached a new 52-week high on Thursday . The company traded as high as $34.50 and last traded at $34.4220, with a volume of 407949 shares. The stock had previously closed at $33.91.

Analysts Set New Price Targets

PRM has been the subject of a number of research analyst reports. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. UBS Group increased 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. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday. Finally, Morgan Stanley increased their price target on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perimeter Solutions Stock Up 2.4%

The business has a fifty day moving average of $26.04 and a 200 day moving average of $26.51. The company has a market capitalization of $5.66 billion, a PE ratio of -25.85 and a beta of 1.93. The company has a current ratio of 3.09, a quick ratio of 2.42 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The company had revenue of $125.07 million during the quarter, compared to analysts’ expectations of $121.80 million. Equities research analysts anticipate that Perimeter Solutions, SA will post 1.91 EPS for the current year.

Insider Activity

In other news, insider Jeffrey Emery sold 99,963 shares of Perimeter Solutions stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $32.92, for a total value of $3,290,781.96. Following the completion of the transaction, the insider owned 46,500 shares in the company, valued at approximately $1,530,780. This trade represents a 68.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William N. Thorndike, Jr. sold 125,000 shares of Perimeter Solutions stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $23.37, for a total value of $2,921,250.00. Following the completion of the transaction, the director owned 8,735,656 shares of the company’s stock, valued at $204,152,280.72. The trade was a 1.41% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 796,923 shares of company stock worth $21,854,961. 13.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in PRM. Comerica Bank boosted 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 valued at $43,000 after buying an additional 1,324 shares during the period. Royal Bank of Canada boosted its stake in shares of Perimeter Solutions by 100.0% in the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock valued at $812,000 after buying an additional 40,294 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Perimeter Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock valued at $801,000 after buying an additional 3,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Perimeter Solutions by 4.8% during the 1st 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 acquiring an additional 14,949 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Perimeter Solutions during the 2nd quarter worth about $2,128,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

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.