Insider Selling: Perimeter Solutions (NYSE:PRM) CFO Sells $952,500.00 in Stock

Perimeter Solutions, SA (NYSE:PRM) CFO Kyle Sable sold 30,000 shares of Perimeter Solutions stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $31.75, for a total value of $952,500.00. Following the transaction, the chief financial officer owned 20,000 shares of the company’s stock, valued at $635,000. This represents a 60.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, May 8th, Kyle Sable sold 150,000 shares of Perimeter Solutions stock. The stock was sold at an average price of $31.52, for a total value of $4,728,000.00.
• On Monday, May 11th, Kyle Sable sold 20,460 shares of Perimeter Solutions stock. The stock was sold at an average price of $32.89, for a total value of $672,929.40.

Perimeter Solutions Stock Performance

Shares of NYSE PRM opened at $34.04 on Friday. 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, SA has a 12 month low of $11.55 and a 12 month high of $34.89. The stock has a 50 day moving average of $26.23 and a 200-day moving average of $26.60. The company has a market capitalization of $5.55 billion, a P/E ratio of -25.40 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $121.80 million. As a group, equities research analysts predict that Perimeter Solutions, SA will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRM. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. UBS Group lifted 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. Morgan Stanley lifted their price target on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday. Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Weiss Ratings raised Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

Institutional Trading of Perimeter Solutions

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Perimeter Solutions by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after purchasing an additional 1,634,158 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Perimeter Solutions by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company’s stock valued at $235,951,000 after acquiring an additional 156,788 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Perimeter Solutions by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock valued at $115,188,000 after acquiring an additional 221,290 shares during the period. Janus Henderson Group PLC lifted its position in shares of Perimeter Solutions by 54.9% during the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock valued at $101,634,000 after acquiring an additional 1,308,602 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Perimeter Solutions by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock valued at $94,218,000 after acquiring an additional 122,435 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

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.