PNC Financial Services Group Inc. Has $1.66 Million Stock Holdings in Perimeter Solutions, SA $PRM

PNC Financial Services Group Inc. boosted its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 195.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,052 shares of the company’s stock after purchasing an additional 45,043 shares during the period. PNC Financial Services Group Inc.’s holdings in Perimeter Solutions were worth $1,662,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PRM. 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 worth $31,000 after buying an additional 389 shares during the period. Allworth Financial LP grew its position in Perimeter Solutions by 14.1% in the fourth quarter. Allworth Financial LP now owns 4,100 shares of the company’s stock valued at $113,000 after acquiring an additional 508 shares during the period. Comerica Bank grew its position in Perimeter Solutions by 12.2% in the third quarter. Comerica Bank now owns 5,019 shares of the company’s stock valued at $112,000 after acquiring an additional 547 shares during the period. Arax Advisory Partners raised its stake in Perimeter Solutions by 122.8% during the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 577 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Perimeter Solutions by 5.5% during the fourth quarter. Russell Investments Group Ltd. now owns 12,691 shares of the company’s stock worth $349,000 after acquiring an additional 660 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Trading Up 7.7%

Shares of PRM opened at $37.35 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. The company has a market cap of $6.09 billion, a price-to-earnings ratio of -27.87 and a beta of 1.90. The stock has a fifty day moving average price of $33.95 and a two-hundred day moving average price of $29.33. Perimeter Solutions, SA has a 52-week low of $15.43 and a 52-week high of $38.17.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, May 7th. The company reported $0.06 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 company had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $121.80 million. Analysts predict that Perimeter Solutions, SA will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PRM has been the subject of a number of analyst reports. UBS Group lifted their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. began coverage on shares of Perimeter Solutions in a research report on Thursday, July 9th. They set an “overweight” rating and a $50.00 target price for the company. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. CJS Securities assumed coverage on shares of Perimeter Solutions in a research report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Perimeter Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, insider Jeffrey Emery sold 99,963 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $32.92, for a total value of $3,290,781.96. Following the completion of the transaction, the insider directly owned 46,500 shares of the company’s stock, valued at approximately $1,530,780. The trade was a 68.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Haitham Khouri sold 117,511 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $31.19, for a total transaction of $3,665,168.09. Following the completion of the transaction, the chief executive officer directly owned 1,874,615 shares of the company’s stock, valued at approximately $58,469,241.85. This represents a 5.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,385,514 shares of company stock worth $217,464,393 in the last 90 days. Corporate 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.