PNC Financial Services Group Inc. Reduces Stock Holdings in Perimeter Solutions, SA (NYSE:PRM)

PNC Financial Services Group Inc. reduced its stake in Perimeter Solutions, SA (NYSE:PRM) by 80.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,272 shares of the company’s stock after selling 109,348 shares during the period. PNC Financial Services Group Inc.’s holdings in Perimeter Solutions were worth $265,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Comerica Bank purchased a new position in shares of Perimeter Solutions during the fourth quarter worth approximately $38,000. Harbor Investment Advisory LLC grew its position in shares of Perimeter Solutions by 25.6% during the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company’s stock worth $94,000 after acquiring an additional 1,899 shares during the last quarter. Xponance Inc. purchased a new position in shares of Perimeter Solutions during the first quarter worth approximately $101,000. Gilbert & Cook Inc. purchased a new position in shares of Perimeter Solutions during the first quarter worth approximately $104,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Perimeter Solutions during the fourth quarter worth approximately $136,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Perimeter Solutions

In related news, Director Vivek Raj sold 32,000 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $11.70, for a total transaction of $374,400.00. Following the completion of the sale, the director directly owned 68,132 shares of the company’s stock, valued at $797,144.40. This trade represents a 31.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Windacre Partnership Master Fu purchased 254,600 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were bought at an average cost of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the acquisition, the insider owned 21,854,600 shares of the company’s stock, valued at approximately $305,527,308. This trade represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 200,810 shares of company stock valued at $2,367,110. Corporate insiders own 10.00% of the company’s stock.

Perimeter Solutions Price Performance

Shares of NYSE PRM opened at $18.54 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.04 and a quick ratio of 2.60. The stock has a fifty day moving average price of $15.56 and a 200 day moving average price of $12.39. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $18.74. The company has a market cap of $2.72 billion, a PE ratio of 43.12 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.11. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%. The firm had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. Sell-side analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PRM shares. Wall Street Zen lowered shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Morgan Stanley lowered their target price on shares of Perimeter Solutions from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, UBS Group raised their target price on shares of Perimeter Solutions from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th.

Perimeter Solutions 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.