Perimeter Solutions (NYSE:PRM) Reaches New 1-Year High – Here’s What Happened

Perimeter Solutions, SA (NYSE:PRM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $34.91 and last traded at $35.1260, with a volume of 145561 shares changing hands. The stock had previously closed at $33.82.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Finally, UBS Group lifted their price target on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.67.

Perimeter Solutions Trading Up 1.1%

The company has a 50 day moving average of $30.24 and a two-hundred day moving average of $27.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. The stock has a market capitalization of $5.78 billion, a PE ratio of -26.44 and a beta of 1.92.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The firm had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Sell-side analysts predict that Perimeter Solutions, SA will post 1.78 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kyle Sable sold 150,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $31.52, for a total transaction of $4,728,000.00. Following the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at $630,400. The trade was a 88.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Emery sold 99,963 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $32.92, for a total value of $3,290,781.96. Following the transaction, the insider owned 46,500 shares in the company, valued at approximately $1,530,780. This trade represents a 68.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 679,535 shares of company stock worth $21,846,411 in the last ninety days. 13.10% of the stock is owned by insiders.

Institutional Trading of Perimeter Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Perimeter Solutions by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after acquiring an additional 1,634,158 shares during the period. Vanguard Group Inc. lifted its position in Perimeter Solutions by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company’s stock worth $235,951,000 after acquiring an additional 156,788 shares during the period. Dimensional Fund Advisors LP lifted its position in Perimeter Solutions by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock worth $115,188,000 after acquiring an additional 221,290 shares during the period. Janus Henderson Group PLC lifted its position in Perimeter Solutions by 8.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock worth $97,863,000 after acquiring an additional 315,763 shares during the period. Finally, Geode Capital Management LLC lifted its position in Perimeter Solutions by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock worth $94,218,000 after acquiring an additional 122,435 shares during the period. Institutional investors and hedge funds own 89.93% of the company’s stock.

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.