Schwab Charles Investment Management Inc. reduced its position in shares of Platform Specialty Products Corp (NYSE:PAH) by 15.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,131,434 shares of the specialty chemicals company’s stock after selling 213,248 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.39% of Platform Specialty Products worth $13,125,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in Platform Specialty Products by 2.0% during the first quarter. BlackRock Inc. now owns 14,077,883 shares of the specialty chemicals company’s stock worth $135,570,000 after buying an additional 282,062 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Platform Specialty Products by 32.5% during the first quarter. Dimensional Fund Advisors LP now owns 12,500,369 shares of the specialty chemicals company’s stock worth $120,378,000 after buying an additional 3,063,275 shares during the last quarter. Slate Path Capital LP acquired a new position in Platform Specialty Products during the first quarter worth $50,798,000. MUFG Securities EMEA plc increased its position in Platform Specialty Products by 227.7% during the second quarter. MUFG Securities EMEA plc now owns 3,015,000 shares of the specialty chemicals company’s stock worth $34,974,000 after buying an additional 2,095,000 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Platform Specialty Products by 53.1% during the second quarter. Wells Fargo & Company MN now owns 2,157,426 shares of the specialty chemicals company’s stock worth $25,026,000 after buying an additional 747,969 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

PAH stock opened at $12.80 on Wednesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.11 and a quick ratio of 1.62. Platform Specialty Products Corp has a 52-week low of $9.09 and a 52-week high of $13.54. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.86 and a beta of 3.17.

Platform Specialty Products (NYSE:PAH) last released its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. Platform Specialty Products had a negative net margin of 4.08% and a positive return on equity of 9.15%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.27 million. During the same period in the prior year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. equities analysts anticipate that Platform Specialty Products Corp will post 0.57 EPS for the current fiscal year.

In other news, insider Scot Benson purchased 6,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was bought at an average cost of $12.56 per share, for a total transaction of $75,360.00. Following the completion of the acquisition, the insider now directly owns 85,456 shares of the company’s stock, valued at $1,073,327.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martin E. Franklin purchased 260,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were purchased at an average price of $12.01 per share, with a total value of $3,122,600.00. The disclosure for this purchase can be found here. Insiders have acquired 10,281,137 shares of company stock valued at $124,380,356 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.

PAH has been the topic of several analyst reports. ValuEngine raised shares of Platform Specialty Products from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 24th. Morgan Stanley set a $12.00 target price on shares of Platform Specialty Products and gave the stock a “hold” rating in a research report on Thursday, June 7th. Zacks Investment Research raised shares of Platform Specialty Products from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, July 3rd. Finally, Goldman Sachs Group downgraded shares of Platform Specialty Products from a “buy” rating to a “neutral” rating in a research report on Monday, July 23rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Platform Specialty Products presently has an average rating of “Hold” and an average target price of $13.20.

Platform Specialty Products Company Profile

Platform Specialty Products Corporation produces and sells specialty chemical products worldwide. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers.

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

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