Perimeter Solutions, SA $PRM Shares Bought by Senator Investment Group LP

Senator Investment Group LP grew its stake in shares of Perimeter Solutions, SA (NYSE:PRM) by 11.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,348,000 shares of the company’s stock after purchasing an additional 248,000 shares during the period. Perimeter Solutions makes up about 2.6% of Senator Investment Group LP’s holdings, making the stock its 13th largest holding. Senator Investment Group LP’s holdings in Perimeter Solutions were worth $64,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arax Advisory Partners lifted its position in shares of Perimeter Solutions by 122.8% during the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after acquiring an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after acquiring an additional 389 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Perimeter Solutions during the 3rd quarter valued at approximately $27,000. Larson Financial Group LLC lifted its position in shares of Perimeter Solutions by 55.7% during the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock valued at $69,000 after acquiring an additional 899 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Perimeter Solutions during the 2nd quarter valued at approximately $42,000. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Perimeter Solutions Trading Up 2.4%

Shares of Perimeter Solutions stock opened at $36.32 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. Perimeter Solutions, SA has a 1 year low of $13.05 and a 1 year high of $36.42. The company has a market capitalization of $5.92 billion, a P/E ratio of -27.10 and a beta of 1.92. The business has a 50 day moving average price of $30.46 and a 200 day moving average price of $27.76.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The firm had revenue of $125.07 million during the quarter, compared to the consensus estimate of $121.80 million. Sell-side analysts anticipate that Perimeter Solutions, SA will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PRM shares. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. UBS Group lifted their price target 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. Finally, CJS Securities began coverage on shares of Perimeter Solutions in a research report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Perimeter Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $40.67.

Insider Buying and Selling

In related news, CFO Kyle Sable sold 150,000 shares of Perimeter Solutions stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $31.52, for a total transaction of $4,728,000.00. Following the completion of the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at $630,400. The trade was a 88.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of Perimeter Solutions 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 transaction, the chief executive officer owned 1,874,615 shares of the company’s stock, valued at $58,469,241.85. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 679,535 shares of company stock worth $21,846,411 in the last ninety days. Insiders own 13.10% of the company’s stock.

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.