Perimeter Solutions, SA $PRM Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its stake in Perimeter Solutions, SA (NYSE:PRM) by 13.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 124,986 shares of the company’s stock after selling 19,563 shares during the period. Royal Bank of Canada owned about 0.08% of Perimeter Solutions worth $3,052,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PRM. Abacus Wealth Partners LLC purchased a new stake in Perimeter Solutions in the fourth quarter valued at approximately $523,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Perimeter Solutions by 239.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock worth $1,524,000 after buying an additional 38,703 shares during the period. Bessemer Group Inc. boosted its position in shares of Perimeter Solutions by 61.2% during the first quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock worth $26,006,000 after buying an additional 404,417 shares during the period. Argos Wealth Advisors LLC acquired a new stake in shares of Perimeter Solutions in the fourth quarter valued at $961,000. Finally, Sei Investments Co. grew its stake in shares of Perimeter Solutions by 100.1% in the first quarter. Sei Investments Co. now owns 90,407 shares of the company’s stock valued at $2,208,000 after buying an additional 45,227 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Perimeter Solutions

In other news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $34.66, for a total transaction of $117,617,982.14. Following the sale, the insider owned 18,461,121 shares of the company’s stock, valued at approximately $639,862,453.86. This trade represents a 15.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Haitham Khouri sold 117,511 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 of the company’s stock, valued at approximately $58,469,241.85. The trade was a 5.90% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,935,514 shares of company stock worth $202,902,090. Company insiders own 13.10% of the company’s stock.

Perimeter Solutions Stock Performance

Shares of PRM stock opened at $33.97 on Friday. The company has a market cap of $5.56 billion, a P/E ratio of -15.23 and a beta of 1.91. The firm has a fifty day moving average price of $34.56 and a 200 day moving average price of $29.75. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.19. Perimeter Solutions, SA has a 12 month low of $18.04 and a 12 month high of $38.17.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $213.81 million during the quarter, compared to analyst estimates of $216.89 million. Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. Sell-side analysts predict that Perimeter Solutions, SA will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRM. Weiss Ratings lowered Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their target price on Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Wall Street Zen lowered shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group increased their price target on shares of 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 raised 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, May 11th. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Perimeter Solutions presently has an average rating of “Hold” and a consensus target price of $41.75.

Perimeter Solutions 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.