HB Wealth Management LLC Boosts Stock Holdings in Perimeter Solutions, SA $PRM

HB Wealth Management LLC grew its holdings in Perimeter Solutions, SA (NYSE:PRM) by 523.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 50,875 shares of the company’s stock after buying an additional 42,713 shares during the quarter. HB Wealth Management LLC’s holdings in Perimeter Solutions were worth $1,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Arax Advisory Partners grew its stake in Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after buying an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after acquiring an additional 389 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Perimeter Solutions by 55.7% in the fourth quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock worth $69,000 after acquiring an additional 899 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Perimeter Solutions by 56.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,918 shares of the company’s stock worth $80,000 after acquiring an additional 1,051 shares during the period. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Perimeter Solutions in the second quarter valued at $42,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRM. CJS Securities initiated coverage on Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price objective on the stock. Zacks Research raised 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 “hold (c-)” rating in a research report on Wednesday, June 17th. Morgan Stanley increased their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, UBS Group raised their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $40.67.

Perimeter Solutions Stock Down 1.2%

PRM stock opened at $33.47 on Wednesday. The company’s 50 day moving average is $33.07 and its 200 day moving average is $28.58. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -24.98 and a beta of 1.90. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. Perimeter Solutions, SA has a 1-year low of $15.00 and a 1-year high of $38.17.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $125.07 million during the quarter, compared to analysts’ expectations of $121.80 million. Sell-side analysts predict that Perimeter Solutions, SA will post 1.78 EPS for the current fiscal year.

Insider Activity at Perimeter Solutions

In related news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total value of $63,562,500.00. Following the transaction, the insider owned 16,148,621 shares of the company’s stock, valued at $547,438,251.90. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Haitham Khouri sold 117,511 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the sale, the chief executive officer owned 1,874,615 shares in the company, valued at $58,469,241.85. The trade was a 5.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 6,385,514 shares of company stock valued at $217,464,393. 13.10% of the stock is currently owned by insiders.

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.