Key Points
- Director William Thorndike, Jr. sold 100,000 shares of Perimeter Solutions (NYSE:PRM) on March 10 at an average price of $23.63 for about $2.363 million, reducing his stake by 1.14% to 8,635,656 shares; the transaction was disclosed in an SEC Form 4.
- Perimeter recently beat Q4 estimates (EPS $0.13 vs. $0.09; revenue $102.75M vs. $94.05M) but still shows a negative net margin (-31.61%); analysts are mixed with a consensus "Hold" and an average target price of $30.50 while the company carries a $3.48 billion market cap.
Perimeter Solutions, SA (NYSE:PRM - Get Free Report) Director William Thorndike, Jr. sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $23.63, for a total transaction of $2,363,000.00. Following the completion of the transaction, the director owned 8,635,656 shares of the company's stock, valued at approximately $204,060,551.28. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Perimeter Solutions Stock Down 0.6%
Perimeter Solutions stock opened at $23.31 on Thursday. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -16.41 and a beta of 1.98. The stock has a fifty day simple moving average of $26.63 and a two-hundred day simple moving average of $25.16. Perimeter Solutions, SA has a 12 month low of $8.76 and a 12 month high of $29.88. The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60.
Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The firm had revenue of $102.75 million for the quarter, compared to the consensus estimate of $94.05 million. Equities analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
PRM has been the subject of several research reports. Zacks Research cut shares of Perimeter Solutions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 17th. Weiss Ratings downgraded shares of Perimeter Solutions from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, March 2nd. UBS Group decreased their target price on shares of Perimeter Solutions from $31.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, March 4th. Finally, Morgan Stanley set a $35.00 price target on Perimeter Solutions in a report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Perimeter Solutions has a consensus rating of "Hold" and an average target price of $30.50.
View Our Latest Research Report on PRM
Hedge Funds Weigh In On Perimeter Solutions
Institutional investors have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of Perimeter Solutions by 157.3% in the fourth quarter. Invesco Ltd. now owns 1,294,686 shares of the company's stock worth $35,643,000 after buying an additional 791,558 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in Perimeter Solutions in the fourth quarter worth approximately $139,000. Mackenzie Financial Corp bought a new position in Perimeter Solutions in the fourth quarter worth approximately $242,000. Empowered Funds LLC purchased a new position in shares of Perimeter Solutions during the 4th quarter worth $417,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Perimeter Solutions during the 4th quarter valued at $6,681,000. Institutional investors own 89.93% of the company's stock.
Perimeter Solutions Company Profile
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Get Free Report)
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.
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