Perimeter Solutions, SA (NYSE:PRM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Perimeter Solutions, SA (NYSE:PRM) by 30.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,610 shares of the company’s stock after selling 20,253 shares during the period. The Manufacturers Life Insurance Company’s holdings in Perimeter Solutions were worth $583,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PRM. Barclays PLC increased its position in Perimeter Solutions by 305.3% in the 3rd quarter. Barclays PLC now owns 206,967 shares of the company’s stock valued at $2,784,000 after acquiring an additional 155,899 shares during the period. SG Americas Securities LLC increased its position in Perimeter Solutions by 21.4% in the 4th quarter. SG Americas Securities LLC now owns 58,733 shares of the company’s stock valued at $751,000 after acquiring an additional 10,348 shares during the period. McAdam LLC acquired a new position in Perimeter Solutions in the 4th quarter valued at about $131,000. Bleakley Financial Group LLC increased its position in Perimeter Solutions by 6.7% in the 4th quarter. Bleakley Financial Group LLC now owns 28,380 shares of the company’s stock valued at $363,000 after acquiring an additional 1,778 shares during the period. Finally, Entropy Technologies LP acquired a new position in Perimeter Solutions in the 4th quarter valued at about $305,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

Insider Activity at Perimeter Solutions

In related news, Director Vivek Raj sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $11.92, for a total value of $1,192,000.00. Following the sale, the director now owns 368,942 shares of the company’s stock, valued at approximately $4,397,788.64. This represents a 21.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 352,284 shares of company stock valued at $3,512,410. 8.70% of the stock is owned by corporate insiders.

Perimeter Solutions Stock Performance

PRM opened at $11.91 on Friday. The stock has a market cap of $1.76 billion, a P/E ratio of -85.08 and a beta of 1.88. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95. The stock’s 50 day simple moving average is $10.12 and its 200 day simple moving average is $11.60. Perimeter Solutions, SA has a 1-year low of $7.00 and a 1-year high of $14.44.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. The business had revenue of $72.03 million for the quarter, compared to analysts’ expectations of $75.00 million. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. As a group, equities analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on PRM shares. UBS Group upgraded Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, March 26th. Morgan Stanley reduced their price objective on shares of Perimeter Solutions from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday.

Perimeter Solutions Company Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.