Perimeter Solutions, SA $PRM Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB trimmed its holdings in Perimeter Solutions, SA (NYSE:PRM) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 486,421 shares of the company’s stock after selling 69,241 shares during the quarter. Nordea Investment Management AB owned 0.33% of Perimeter Solutions worth $13,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRM. Jones Financial Companies Lllp acquired a new position in shares of Perimeter Solutions in the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions during the second quarter worth about $42,000. Comerica Bank raised its position in Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after acquiring an additional 1,324 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in Perimeter Solutions during the third quarter valued at approximately $45,000. Finally, TD Private Client Wealth LLC lifted its holdings in 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 valued at $47,000 after acquiring an additional 1,972 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on PRM shares. Weiss Ratings lowered Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, March 2nd. Zacks Research cut shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a report on Monday, December 15th. Finally, UBS Group dropped their price target on shares of Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.50.

Insiders Place Their Bets

In other Perimeter Solutions news, Director William N. Thorndike, Jr. sold 125,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the completion of the transaction, the director directly owned 8,735,656 shares in the company, valued at approximately $204,152,280.72. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 450,000 shares of company stock worth $10,722,750 in the last ninety days. Corporate insiders own 10.00% of the company’s stock.

Perimeter Solutions Stock Up 4.9%

Shares of PRM opened at $22.11 on Wednesday. The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60. Perimeter Solutions, SA has a 12 month low of $8.76 and a 12 month high of $29.88. The stock’s 50 day moving average is $25.48 and its two-hundred day moving average is $25.18. The firm has a market cap of $3.30 billion, a P/E ratio of -15.57 and a beta of 1.98.

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

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.