Perimeter Solutions (NYSE:PRM) Director Sells $3,032,500.00 in Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 125,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $24.26, for a total value of $3,032,500.00. Following the sale, the director owned 9,060,656 shares in the company, valued at approximately $219,811,514.56. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Perimeter Solutions Price Performance

Shares of NYSE:PRM traded down $0.84 during midday trading on Friday, hitting $23.49. 1,152,961 shares of the stock were exchanged, compared to its average volume of 970,795. Perimeter Solutions, SA has a twelve month low of $8.76 and a twelve month high of $29.88. The company has a current ratio of 3.22, a quick ratio of 1.72 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average price of $26.97 and a 200-day moving average price of $24.98. The stock has a market cap of $3.51 billion, a P/E ratio of -16.54 and a beta of 1.98.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, February 26th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $102.75 million during the quarter, compared to the consensus estimate of $94.05 million. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. On average, research analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Institutional Trading of Perimeter Solutions

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new position in shares of Perimeter Solutions during the 3rd quarter valued at about $27,000. Arax Advisory Partners raised its holdings in Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after buying an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after buying an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Perimeter Solutions during the second quarter worth approximately $42,000. Finally, Comerica Bank increased its position in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after acquiring an additional 1,324 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRM has been the topic of a number of recent research reports. Weiss Ratings lowered Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday. UBS Group decreased their price objective on Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday. Zacks Research cut Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley set a $35.00 target price on shares of Perimeter Solutions in a report on Monday, December 15th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.50.

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.