State of New Jersey Common Pension Fund D Takes $2.55 Million Position in Perimeter Solutions, SA $PRM

State of New Jersey Common Pension Fund D acquired a new position in shares of Perimeter Solutions, SA (NYSE:PRM) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 113,808 shares of the company’s stock, valued at approximately $2,548,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Comerica Bank increased its position in 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 in the last quarter. Royal Bank of Canada raised its stake in Perimeter Solutions by 100.0% in the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock valued at $812,000 after purchasing an additional 40,294 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Perimeter Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock valued at $801,000 after purchasing an additional 3,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Perimeter Solutions by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company’s stock valued at $3,305,000 after purchasing an additional 14,949 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Perimeter Solutions during the 2nd quarter worth about $458,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Insiders Place Their Bets

In other Perimeter Solutions news, CFO Kyle Sable sold 100,000 shares of Perimeter Solutions stock in a transaction on Friday, December 12th. The shares were sold at an average price of $28.47, for a total value of $2,847,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a report on Monday, December 15th. UBS Group lowered shares of Perimeter Solutions from a “buy” rating to a “neutral” rating and raised their target price for the stock from $30.00 to $31.00 in a research report on Monday, January 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Perimeter Solutions in a report on Thursday, January 22nd. Finally, Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $33.00.

Perimeter Solutions Price Performance

PRM opened at $26.64 on Friday. The company’s 50 day simple moving average is $27.57 and its 200 day simple moving average is $24.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. Perimeter Solutions, SA has a 1 year low of $8.76 and a 1 year high of $29.88. The stock has a market capitalization of $3.94 billion, a PE ratio of 63.42 and a beta of 1.96.

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.