CenterBook Partners LP Buys 28,698 Shares of Perimeter Solutions, SA $PRM

CenterBook Partners LP grew its stake in shares of Perimeter Solutions, SA (NYSE:PRM) by 58.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 77,798 shares of the company’s stock after acquiring an additional 28,698 shares during the period. CenterBook Partners LP’s holdings in Perimeter Solutions were worth $2,142,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Comerica Bank lifted its holdings in shares of Perimeter Solutions by 45.0% in the 1st 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 period. Royal Bank of Canada raised its holdings in shares of Perimeter Solutions by 100.0% in the first quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock valued at $812,000 after acquiring an additional 40,294 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Perimeter Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock valued at $801,000 after acquiring an additional 3,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Perimeter Solutions by 4.8% in 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 acquiring an additional 14,949 shares during the period. Finally, American Century Companies Inc. bought a new position in Perimeter Solutions during the 2nd quarter worth about $2,128,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Insider Activity

In related news, CFO Kyle Sable sold 150,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $31.52, for a total value of $4,728,000.00. Following the completion of the transaction, the chief financial officer directly owned 20,000 shares of the company’s stock, valued at $630,400. This trade represents a 88.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $31.19, for a total transaction of $3,665,168.09. Following the completion of the sale, the chief executive officer owned 1,874,615 shares of the company’s stock, valued at $58,469,241.85. This trade represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 679,535 shares of company stock worth $21,846,411 over the last 90 days. 13.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. CJS Securities assumed coverage on Perimeter Solutions in a research report on Tuesday. They set a “market outperform” rating and a $48.00 target price on the stock. UBS Group boosted their price target on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley upped their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.67.

Perimeter Solutions Stock Performance

Shares of PRM stock opened at $32.70 on Wednesday. Perimeter Solutions, SA has a 12-month low of $13.05 and a 12-month high of $34.89. The business’s fifty day simple moving average is $29.59 and its 200-day simple moving average is $27.52. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. The company has a market cap of $5.33 billion, a PE ratio of -24.40 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. Analysts expect that Perimeter Solutions, SA will post 1.91 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.