Key Points
- Insider sale: Perimeter Solutions insider Jeffrey Emery sold 99,963 shares on May 11 at an average price of $32.92, generating about $3.29 million. After the sale, he retained 46,500 shares, a 68.25% reduction in his ownership.
- Stock and earnings update: PRM was trading around $32.09, near its 52-week high of $34.29 and well above its 50-day and 200-day moving averages. The company recently beat quarterly expectations, reporting EPS of $0.06 versus $0.02 expected and revenue of $125.07 million versus $121.80 million estimated.
- Wall Street sentiment: Analysts have turned more positive, with multiple firms raising ratings and price targets, including UBS to $34 and Morgan Stanley to $40. The stock’s consensus rating is now Moderate Buy with an average target price of $37.00.
Perimeter Solutions, SA (NYSE:PRM - Get Free Report) CFO Kyle Sable sold 20,460 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $32.89, for a total transaction of $672,929.40. Following the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $657,800. This represents a 50.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Kyle Sable also recently made the following trade(s):
- On Friday, May 8th, Kyle Sable sold 150,000 shares of Perimeter Solutions stock. The stock was sold at an average price of $31.52, for a total transaction of $4,728,000.00.
- On Tuesday, May 12th, Kyle Sable sold 30,000 shares of Perimeter Solutions stock. The stock was sold at an average price of $31.75, for a total transaction of $952,500.00.
Perimeter Solutions Stock Performance
NYSE:PRM opened at $32.09 on Wednesday. The company has a quick ratio of 2.42, a current ratio of 3.09 and a debt-to-equity ratio of 1.01. The company has a market cap of $5.23 billion, a P/E ratio of -23.95 and a beta of 1.93. Perimeter Solutions, SA has a fifty-two week low of $11.55 and a fifty-two week high of $34.29. The firm's 50 day moving average is $25.83 and its two-hundred day moving average is $26.43.
Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. The company had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. Analysts expect that Perimeter Solutions, SA will post 1.47 EPS for the current year.
Analyst Ratings Changes
PRM has been the topic of a number of research reports. Zacks Research raised shares of Perimeter Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Morgan Stanley raised their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday. Wall Street Zen raised shares of Perimeter Solutions from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings raised shares of Perimeter Solutions from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday. Finally, UBS Group raised their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.00.
Check Out Our Latest Stock Analysis on PRM
Hedge Funds Weigh In On Perimeter Solutions
A number of hedge funds have recently made changes to their positions in PRM. Principal Financial Group Inc. grew its holdings in Perimeter Solutions by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company's stock valued at $305,572,000 after purchasing an additional 1,634,158 shares in the last quarter. Vanguard Group Inc. grew its holdings in Perimeter Solutions by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company's stock valued at $235,951,000 after purchasing an additional 156,788 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Perimeter Solutions by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company's stock valued at $115,188,000 after purchasing an additional 221,290 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Perimeter Solutions by 54.9% during the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company's stock valued at $101,634,000 after purchasing an additional 1,308,602 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Perimeter Solutions by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company's stock valued at $94,218,000 after purchasing an additional 122,435 shares in the last quarter. Hedge funds and other 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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