Perimeter Solutions, SA $PRM Shares Purchased by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp grew its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 72.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 80,005 shares of the company’s stock after acquiring an additional 33,699 shares during the quarter. Lombard Odier Asset Management USA Corp owned about 0.05% of Perimeter Solutions worth $1,791,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Perimeter Solutions by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 464,826 shares of the company’s stock valued at $6,470,000 after purchasing an additional 26,758 shares in the last quarter. Nordea Investment Management AB grew its position in Perimeter Solutions by 3.2% in the 3rd quarter. Nordea Investment Management AB now owns 555,662 shares of the company’s stock valued at $12,102,000 after buying an additional 17,295 shares in the last quarter. Federated Hermes Inc. grew its position in Perimeter Solutions by 52,387.7% in the 3rd quarter. Federated Hermes Inc. now owns 298,130 shares of the company’s stock valued at $6,675,000 after buying an additional 297,562 shares in the last quarter. Primecap Management Co. CA increased its stake in Perimeter Solutions by 9.3% during the 2nd quarter. Primecap Management Co. CA now owns 2,097,551 shares of the company’s stock valued at $29,198,000 after buying an additional 178,271 shares during the period. Finally, Franklin Resources Inc. increased its stake in Perimeter Solutions by 27.4% during the 2nd quarter. Franklin Resources Inc. now owns 226,037 shares of the company’s stock valued at $3,146,000 after buying an additional 48,642 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRM. Zacks Research lowered shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Morgan Stanley set a $35.00 price objective on shares of Perimeter Solutions in a research note on Monday, December 15th. Weiss Ratings cut Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Finally, UBS Group cut their target price on Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Perimeter Solutions currently has a consensus rating of “Hold” and a consensus price target of $30.50.

Perimeter Solutions Stock Performance

Shares of PRM opened at $21.99 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.22 and a quick ratio of 2.42. The firm’s 50 day moving average is $26.33 and its 200-day moving average is $25.21. Perimeter Solutions, SA has a 12-month low of $8.76 and a 12-month high of $29.88. The stock has a market capitalization of $3.29 billion, a P/E ratio of -15.49 and a beta of 1.98.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, February 26th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. The business had revenue of $102.75 million during the quarter, compared to analyst estimates of $94.05 million. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. Equities research analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Insider Activity

In other news, Director William N. Thorndike, Jr. sold 125,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the completion of the sale, the director owned 8,735,656 shares in the company, valued at approximately $204,152,280.72. This represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 450,000 shares of company stock valued at $10,722,750 over the last quarter. 10.00% of the stock is currently owned by corporate 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.