Kyle Sable Sells 30,000 Shares of Perimeter Solutions (NYSE:PRM) Stock

Perimeter Solutions, SA (NYSE:PRM) CFO Kyle Sable sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $31.75, for a total transaction of $952,500.00. Following the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at $635,000. This represents a 60.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kyle Sable also recently made the following trade(s):

• On Friday, May 8th, Kyle Sable sold 150,000 shares of Perimeter Solutions stock. The stock was sold at an average price of $31.52, for a total transaction of $4,728,000.00.
• On Monday, May 11th, Kyle Sable sold 20,460 shares of Perimeter Solutions stock. The stock was sold at an average price of $32.89, for a total transaction of $672,929.40.

Perimeter Solutions Stock Up 5.7%

Shares of PRM opened at $33.94 on Thursday. Perimeter Solutions, SA has a 12 month low of $11.55 and a 12 month high of $34.29. The firm’s 50 day moving average is $26.04 and its 200-day moving average is $26.51. The stock has a market capitalization of $5.54 billion, a PE ratio of -25.33 and a beta of 1.93. The company has a current ratio of 3.09, a quick ratio of 2.42 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. The company had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $121.80 million. Equities research analysts forecast that Perimeter Solutions, SA will post 1.91 EPS for the current year.

Wall Street Analyst Weigh In

PRM has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday. Wall Street Zen raised shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, UBS Group lifted their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Comerica Bank grew its stake in shares of Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after buying an additional 1,324 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Perimeter Solutions by 100.0% during the first quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock worth $812,000 after buying an additional 40,294 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Perimeter Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock worth $801,000 after buying an additional 3,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Perimeter Solutions by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company’s stock worth $3,305,000 after buying an additional 14,949 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Perimeter Solutions during the second quarter worth $2,128,000. 89.93% of the stock is owned by institutional investors.

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.