JPMorgan Chase & Co. Sells 2,051,774 Shares of Perimeter Solutions, SA $PRM

JPMorgan Chase & Co. reduced its stake in Perimeter Solutions, SA (NYSE:PRM) by 39.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 3,133,666 shares of the company’s stock after selling 2,051,774 shares during the quarter. JPMorgan Chase & Co.’s holdings in Perimeter Solutions were worth $70,163,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Comerica Bank raised its position in Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after acquiring an additional 1,324 shares during the period. Royal Bank of Canada increased its stake in shares of Perimeter Solutions by 100.0% during the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock worth $812,000 after purchasing an additional 40,294 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 worth $801,000 after purchasing an additional 3,428 shares during the period. 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 valued at $3,305,000 after purchasing an additional 14,949 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Perimeter Solutions by 65.1% during the second quarter. AlphaQuest LLC now owns 8,235 shares of the company’s stock valued at $115,000 after purchasing an additional 3,246 shares during the period. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Price Performance

Shares of NYSE PRM opened at $26.37 on Wednesday. The stock has a market cap of $3.90 billion, a PE ratio of 62.78 and a beta of 1.96. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $29.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. The stock has a fifty day moving average of $27.50 and a 200-day moving average of $24.79.

Insiders Place Their Bets

In other Perimeter Solutions news, CFO Kyle Sable sold 100,000 shares of Perimeter Solutions stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $28.47, for a total transaction of $2,847,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRM. Morgan Stanley set a $35.00 target price on Perimeter Solutions in a research note on Monday, December 15th. UBS Group lowered Perimeter Solutions from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $30.00 to $31.00 in a report on Monday, January 12th. Zacks Research cut Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Perimeter Solutions in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Perimeter Solutions has a consensus rating of “Hold” and a consensus target price of $33.00.

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.