Ardsley Advisory Partners raised its position in Platform Specialty Products Corp (NYSE:PAH) by 107.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,025,000 shares of the specialty chemicals company’s stock after buying an additional 530,000 shares during the quarter. Platform Specialty Products accounts for 1.2% of Ardsley Advisory Partners’ holdings, making the stock its 21st largest position. Ardsley Advisory Partners’ holdings in Platform Specialty Products were worth $10,158,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. AMP Capital Investors Ltd bought a new position in Platform Specialty Products in the 3rd quarter valued at $444,000. First Manhattan Co. boosted its holdings in Platform Specialty Products by 19,786.1% in the 4th quarter. First Manhattan Co. now owns 1,988,610 shares of the specialty chemicals company’s stock valued at $19,727,000 after purchasing an additional 1,978,610 shares during the period. JPMorgan Chase & Co. boosted its holdings in Platform Specialty Products by 4,422.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 688,198 shares of the specialty chemicals company’s stock valued at $7,653,000 after purchasing an additional 672,981 shares during the period. Magnetar Financial LLC boosted its holdings in Platform Specialty Products by 226.8% in the 3rd quarter. Magnetar Financial LLC now owns 99,329 shares of the specialty chemicals company’s stock valued at $1,108,000 after purchasing an additional 68,930 shares during the period. Finally, Swiss National Bank boosted its holdings in Platform Specialty Products by 2.0% in the 4th quarter. Swiss National Bank now owns 390,689 shares of the specialty chemicals company’s stock valued at $3,876,000 after purchasing an additional 7,800 shares during the period. 91.65% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on PAH. Zacks Investment Research upgraded shares of Platform Specialty Products from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, March 7th. ValuEngine cut shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Credit Suisse Group began coverage on shares of Platform Specialty Products in a research report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Platform Specialty Products presently has an average rating of “Hold” and an average price target of $14.43.
Shares of Platform Specialty Products Corp (NYSE:PAH) opened at $11.12 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.69 and a debt-to-equity ratio of 1.90. The firm has a market cap of $3,200.00, a price-to-earnings ratio of -10.69, a PEG ratio of 0.80 and a beta of 3.07. Platform Specialty Products Corp has a 52-week low of $9.11 and a 52-week high of $14.82.
Platform Specialty Products (NYSE:PAH) last posted its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $978.56 million. Platform Specialty Products had a negative net margin of 7.84% and a positive return on equity of 7.69%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. sell-side analysts expect that Platform Specialty Products Corp will post 0.99 earnings per share for the current year.
About Platform Specialty Products
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, the Asia-Pacific, and Europe. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers plating products that are used to plate holes; electroless nickel products, which are applied to various metal and plastic surfaces; electronic assembly materials for use in the electronic market and residential boiler systems; final finishes that are used on printed circuit boards; circuit formation products for surface preparation; oxides, which are used in the fabrication of multilayer circuit boards; semiconductor materials and packaging products; and pre-treatment and cleaning solutions.
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