TD Waterhouse Canada Inc. Has $7.36 Million Stake in Perimeter Solutions, SA $PRM

TD Waterhouse Canada Inc. lifted its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 250.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,345 shares of the company’s stock after purchasing an additional 151,765 shares during the period. TD Waterhouse Canada Inc.’s holdings in Perimeter Solutions were worth $7,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PRM. Financial Management Professionals Inc. bought a new stake in shares of Perimeter Solutions in the 2nd quarter valued at about $26,000. Arax Advisory Partners increased its stake in shares of Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after acquiring an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Perimeter Solutions by 51.6% in 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 stake in Perimeter Solutions in the 2nd quarter valued at about $42,000. Finally, Comerica Bank raised its position in shares of Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares during the period. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Price Performance

Perimeter Solutions stock opened at $31.91 on Friday. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of -14.31 and a beta of 1.90. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $33.30 and a 200 day simple moving average of $30.24. Perimeter Solutions, SA has a 52 week low of $19.70 and a 52 week high of $38.17.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. The business had revenue of $213.81 million during the quarter, compared to analysts’ expectations of $216.89 million. On average, research analysts forecast that Perimeter Solutions, SA will post 1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRM shares. Weiss Ratings lowered shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Morgan Stanley boosted their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Wall Street Zen downgraded Perimeter Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. cut their target price on shares of Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Finally, CJS Securities assumed coverage on Perimeter Solutions in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Perimeter Solutions has a consensus rating of “Hold” and an average target price of $41.75.

Insiders Place Their Bets

In related news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $33.90, for a total value of $63,562,500.00. Following the sale, the insider directly owned 16,148,621 shares of the company’s stock, valued at $547,438,251.90. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 5,705,979 shares of company stock valued at $195,617,982 over the last quarter. Company insiders own 13.10% of the company’s stock.

Perimeter Solutions 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.