Perimeter Solutions (NYSE:PRM) Director William Thorndike, Jr. Sells 100,000 Shares

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 100,000 shares of Perimeter Solutions stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $24.06, for a total transaction of $2,406,000.00. Following the completion of the transaction, the director directly owned 8,960,656 shares of the company’s stock, valued at $215,593,383.36. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Perimeter Solutions Price Performance

Shares of NYSE:PRM opened at $23.49 on Friday. The company has a market cap of $3.51 billion, a PE ratio of -16.54 and a beta of 1.98. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $29.88. The firm has a 50-day simple moving average of $26.88 and a 200 day simple moving average of $25.02. The company has a quick ratio of 1.72, a current ratio of 3.22 and a debt-to-equity ratio of 0.60.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Thursday, February 26th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. The firm had revenue of $102.75 million for the quarter, compared to analysts’ expectations of $94.05 million. On average, sell-side analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Perimeter Solutions

A number of institutional investors have recently bought and sold shares of the stock. Arax Advisory Partners lifted its position 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. grew its position in Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after purchasing an additional 389 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Perimeter Solutions during the 3rd quarter valued at $27,000. Brown Lisle Cummings Inc. acquired a new stake in Perimeter Solutions during the 3rd quarter valued at $45,000. Finally, TD Private Client Wealth LLC boosted its position in shares of Perimeter Solutions by 1,450.0% in the third quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock worth $47,000 after buying an additional 1,972 shares during the period. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Perimeter Solutions Company 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.