CenterBook Partners LP Acquires 226,103 Shares of Perimeter Solutions, SA $PRM

CenterBook Partners LP boosted its holdings in Perimeter Solutions, SA (NYSE:PRM) by 139.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 387,773 shares of the company’s stock after acquiring an additional 226,103 shares during the quarter. CenterBook Partners LP’s holdings in Perimeter Solutions were worth $10,206,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Perimeter Solutions during the 2nd quarter valued at about $1,232,000. Bessemer Group Inc. raised its stake in shares of Perimeter Solutions by 61.2% in the first quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock worth $26,006,000 after purchasing an additional 404,417 shares during the last quarter. Sei Investments Co. raised its stake in shares of Perimeter Solutions by 100.1% in the first quarter. Sei Investments Co. now owns 90,407 shares of the company’s stock worth $2,208,000 after purchasing an additional 45,227 shares during the last quarter. Guardian Wealth Advisors LLC NC lifted its holdings in shares of Perimeter Solutions by 166.7% in the second quarter. Guardian Wealth Advisors LLC NC now owns 115,498 shares of the company’s stock valued at $3,185,000 after purchasing an additional 72,196 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Perimeter Solutions by 4.8% in the first quarter. Bank of America Corp DE now owns 1,738,095 shares of the company’s stock valued at $42,444,000 after purchasing an additional 79,083 shares in the last quarter. Institutional investors own 89.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings upgraded Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, October 19th. UBS Group lowered their price target on Perimeter Solutions from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. Zacks Research raised shares of Perimeter Solutions from a “strong sell” rating to a “hold” rating in a report on Thursday, October 15th. Wall Street Zen lowered shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Perimeter Solutions from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Perimeter Solutions has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Perimeter Solutions News Summary

Here are the key news stories impacting Perimeter Solutions this week:

• Positive Sentiment: Third-quarter revenue was $389.9 million, above the roughly $381.5 million analyst estimate. Adjusted EBITDA was $223.5 million, which the company attributed to continued execution on its value drivers and recent acquisitions. Company earnings release
• Neutral Sentiment: The company outlined an annual capital-spending plan of $30 million to $40 million. This signals continued investment, though it also means ongoing capital requirements. Capex plan and PDI outlook
• Negative Sentiment: Adjusted EPS of $0.85 fell short of analyst estimates of $0.95–$0.96, tempering the revenue beat. Management also expects a period of “distressed adjusted EBITDA” at PDI, a business-level concern investors may monitor. Q3 earnings miss

Perimeter Solutions Stock Performance

Shares of PRM stock traded up $1.40 during trading on Friday, hitting $29.54. The company’s stock had a trading volume of 2,151,445 shares, compared to its average volume of 1,125,718. The company has a market cap of $4.84 billion, a PE ratio of 227.24 and a beta of 1.91. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average of $29.02 and a 200-day moving average of $29.59. Perimeter Solutions, SA has a 52 week low of $20.38 and a 52 week high of $38.17.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.11). The business had revenue of $389.87 million for the quarter, compared to analysts’ expectations of $381.45 million. Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. As a group, research analysts anticipate that Perimeter Solutions, SA will post 1.57 earnings per share for the current year.

About Perimeter Solutions

Perimeter Solutions, Inc (NYSE:PRM) is a specialty chemicals and fire-safety company that develops and supplies products used to prevent, control and suppress fires, as well as chemicals used in industrial applications. Its operations are organized primarily around fire-safety products and performance chemicals.

The company’s fire-safety portfolio includes PHOS-CHEK-branded wildfire retardants, firefighting foams, gels and other suppression products. These solutions are used by government agencies, fire departments, aviation and industrial customers, and other organizations involved in wildfire response, emergency preparedness and fire protection.

Perimeter Solutions also produces phosphorus-based specialty chemicals, including phosphorus pentasulfide, which is used in applications such as lubricant additives and other industrial processes.