TD Waterhouse Canada Inc. Acquires 151,765 Shares of Perimeter Solutions, SA $PRM

TD Waterhouse Canada Inc. increased its holdings in Perimeter Solutions, SA (NYSE:PRM) by 250.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,345 shares of the company’s stock after buying an additional 151,765 shares during the period. TD Waterhouse Canada Inc. owned 0.13% of Perimeter Solutions worth $7,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in Perimeter Solutions during the second quarter worth approximately $26,000. Arax Advisory Partners raised its holdings in Perimeter Solutions by 122.8% in 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 in the last quarter. 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. EverSource Wealth Advisors LLC bought a new stake in shares of Perimeter Solutions during the 2nd quarter valued at $42,000. Finally, Comerica Bank grew its holdings in shares of Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors.

Insider Activity at Perimeter Solutions

In other news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $34.66, for a total value of $117,617,982.14. Following the completion of the transaction, the insider owned 18,461,121 shares of the company’s stock, valued at approximately $639,862,453.86. This represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 5,705,979 shares of company stock valued at $195,617,982 over the last three months. 13.10% of the stock is currently owned by corporate insiders.

Perimeter Solutions Price Performance

Perimeter Solutions stock opened at $31.91 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.93 and a current ratio of 1.57. Perimeter Solutions, SA has a 52 week low of $19.70 and a 52 week high of $38.17. The stock has a market capitalization of $5.22 billion, a P/E ratio of -14.31 and a beta of 1.90. The stock has a fifty day moving average of $33.30 and a 200-day moving average of $30.24.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. The business had revenue of $213.81 million during the quarter, compared to analyst estimates of $216.89 million. On average, sell-side analysts expect that Perimeter Solutions, SA will post 1.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRM has been the topic of a number of recent analyst reports. Wall Street Zen cut Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Morgan Stanley increased 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. Zacks Research lowered shares of Perimeter Solutions from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. JPMorgan Chase & Co. dropped their target price on shares of Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.