Millennium Management LLC Decreases Stock Position in Perimeter Solutions, SA (NYSE:PRM)

Millennium Management LLC lowered its stake in Perimeter Solutions, SA (NYSE:PRM) by 48.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,847 shares of the company’s stock after selling 134,717 shares during the period. Millennium Management LLC owned approximately 0.10% of Perimeter Solutions worth $1,864,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PRM. Vanguard Group Inc. increased its holdings in shares of Perimeter Solutions by 136.8% in the fourth quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company’s stock worth $104,944,000 after buying an additional 4,744,069 shares during the period. Corient Private Wealth LLC purchased a new position in shares of Perimeter Solutions in the fourth quarter worth about $41,780,000. JPMorgan Chase & Co. increased its holdings in shares of Perimeter Solutions by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company’s stock worth $74,847,000 after buying an additional 971,623 shares during the period. Bessemer Group Inc. increased its holdings in shares of Perimeter Solutions by 10,103.3% in the fourth quarter. Bessemer Group Inc. now owns 923,811 shares of the company’s stock worth $11,806,000 after buying an additional 914,757 shares during the period. Finally, Catawba River Capital purchased a new position in shares of Perimeter Solutions in the fourth quarter worth about $7,658,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Insiders Place Their Bets

In other Perimeter Solutions news, Director Vivek Raj sold 2,284 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $12.22, for a total transaction of $27,910.48. Following the transaction, the director now owns 468,942 shares in the company, valued at approximately $5,730,471.24. This represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 553,094 shares of company stock worth $5,879,521. Company insiders own 10.00% of the company’s stock.

Perimeter Solutions Stock Up 0.5%

Shares of NYSE:PRM opened at $12.13 on Tuesday. Perimeter Solutions, SA has a 1 year low of $7.00 and a 1 year high of $14.44. The company has a market cap of $1.79 billion, a PE ratio of -86.61 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 moving average is $10.70 and its 200 day moving average is $11.48.

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

Analyst Ratings Changes

PRM has been the topic of several analyst reports. Morgan Stanley decreased their price objective on Perimeter Solutions from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. UBS Group upgraded Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, March 26th. Finally, Wall Street Zen downgraded Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd.

About Perimeter Solutions

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.