Lord Abbett & CO. LLC Has $11.17 Million Position in Platform Specialty Products Corp (PAH)

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Lord Abbett & CO. LLC lessened its holdings in Platform Specialty Products Corp (NYSE:PAH) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,081,159 shares of the specialty chemicals company’s stock after selling 1,747 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Platform Specialty Products were worth $11,168,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PAH. FMR LLC lifted its stake in shares of Platform Specialty Products by 13.8% in the 3rd quarter. FMR LLC now owns 35,236,005 shares of the specialty chemicals company’s stock valued at $439,393,000 after purchasing an additional 4,269,219 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Platform Specialty Products during the 3rd quarter worth $38,749,000. Locust Wood Capital Advisers LLC lifted its position in Platform Specialty Products by 185.3% during the 4th quarter. Locust Wood Capital Advisers LLC now owns 2,179,012 shares of the specialty chemicals company’s stock worth $22,509,000 after acquiring an additional 1,415,196 shares during the last quarter. Diameter Capital Partners LP acquired a new position in Platform Specialty Products during the 3rd quarter worth $10,849,000. Finally, Epoch Investment Partners Inc. acquired a new position in Platform Specialty Products during the 3rd quarter worth $10,092,000. 94.50% of the stock is owned by institutional investors and hedge funds.

NYSE:PAH opened at $10.48 on Wednesday. Platform Specialty Products Corp has a 52-week low of $9.09 and a 52-week high of $13.54. The company has a current ratio of 2.19, a quick ratio of 2.00 and a debt-to-equity ratio of 2.55. The stock has a market cap of $3.05 billion, a PE ratio of 13.79, a P/E/G ratio of 4.42 and a beta of 2.59.

A number of research analysts have weighed in on PAH shares. ValuEngine raised shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research raised shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research report on Friday, November 30th. UBS Group set a $14.00 target price on shares of Platform Specialty Products and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, SunTrust Banks lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Platform Specialty Products currently has an average rating of “Hold” and an average price target of $13.00.

In other news, EVP John Edward Capps acquired 50,000 shares of the firm’s stock in a transaction on Thursday, December 20th. The shares were purchased at an average cost of $10.00 per share, with a total value of $500,000.00. Following the completion of the purchase, the executive vice president now owns 254,333 shares of the company’s stock, valued at $2,543,330. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pershing Square Capital Manage sold 37,000,000 shares of the company’s stock in a transaction dated Sunday, February 3rd. The stock was sold at an average price of $11.72, for a total transaction of $433,640,000.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

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Platform Specialty Products Profile

Platform Specialty Products Corp. engages in the provision of technology chemical products and technical services. It operates its business through the Performance Solutions and Agricultural Solutions segments. The Performance Solutions segment formulates and markets chemistry solutions that are used in production, commercial packaging and printing, electronics, and oil and gas production and drilling.

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Want to see what other hedge funds are holding PAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Platform Specialty Products Corp (NYSE:PAH).

Institutional Ownership by Quarter for Platform Specialty Products (NYSE:PAH)

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