Sei Investments Co. Increases Holdings in Perimeter Solutions, SA $PRM

Sei Investments Co. boosted its stake in shares of Perimeter Solutions, SA (NYSE:PRM) by 100.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 90,407 shares of the company’s stock after purchasing an additional 45,227 shares during the quarter. Sei Investments Co.’s holdings in Perimeter Solutions were worth $2,208,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Arax Advisory Partners increased its stake in shares of Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Perimeter Solutions during the 2nd quarter valued at about $42,000. Comerica Bank grew its holdings in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Perimeter Solutions by 55.7% in the fourth quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock valued at $69,000 after purchasing an additional 899 shares during the period. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Perimeter Solutions

In other news, insider Jeffrey Emery sold 53,537 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $33.45, for a total value of $1,790,812.65. Following the transaction, the insider directly owned 53,537 shares in the company, valued at approximately $1,790,812.65. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the transaction, the insider directly owned 16,148,621 shares of the company’s stock, valued at $547,438,251.90. The trade was a 10.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,189,014 shares of company stock valued at $211,248,393 over the last 90 days. Insiders own 13.10% of the company’s stock.

Perimeter Solutions Stock Down 5.6%

Shares of NYSE:PRM opened at $35.25 on Friday. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of -15.81 and a beta of 1.91. Perimeter Solutions, SA has a 12-month low of $16.96 and a 12-month high of $38.17. The business has a 50-day moving average price of $34.19 and a 200 day moving average price of $29.54. The company has a current ratio of 1.57, a quick ratio of 1.61 and a debt-to-equity ratio of 1.19.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $213.81 million during the quarter, compared to analyst estimates of $216.89 million. Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. Sell-side analysts expect that Perimeter Solutions, SA will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRM. CJS Securities initiated 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 objective for the company. JPMorgan Chase & Co. dropped their price target on shares of Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. UBS Group raised their price target on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Morgan Stanley upped their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Perimeter Solutions has an average rating of “Moderate Buy” and a consensus target price of $41.75.

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.