Envestnet Asset Management Inc. Boosts Position in Perimeter Solutions, SA $PRM

Envestnet Asset Management Inc. lifted its position in Perimeter Solutions, SA (NYSE:PRM) by 17.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,861 shares of the company’s stock after buying an additional 36,595 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Perimeter Solutions worth $3,464,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its holdings in Perimeter Solutions by 161.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock worth $43,000 after acquiring an additional 1,928 shares during the period. Comerica Bank increased its holdings in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares during the period. Xponance Inc. bought a new position in shares of Perimeter Solutions in the first quarter worth $101,000. Gilbert & Cook Inc. purchased a new stake in shares of Perimeter Solutions in the first quarter worth $104,000. Finally, AlphaQuest LLC boosted its stake in Perimeter Solutions by 65.1% during the second quarter. AlphaQuest LLC now owns 8,235 shares of the company’s stock valued at $115,000 after buying an additional 3,246 shares during the period. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Trading Down 1.3%

PRM stock opened at $25.34 on Friday. The company has a market capitalization of $3.75 billion, a PE ratio of 60.33 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. Perimeter Solutions, SA has a one year low of $8.76 and a one year high of $27.74. The company’s 50 day moving average price is $22.69 and its two-hundred day moving average price is $17.85.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $315.44 million during the quarter, compared to analysts’ expectations of $238.27 million. As a group, analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey Emery sold 300,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $22.28, for a total value of $6,684,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kyle Sable sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $22.05, for a total value of $882,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 365,000 shares of company stock valued at $8,127,250 over the last three months. Insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PRM shares. UBS Group upped their target price on Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Morgan Stanley restated an “overweight” rating and issued a $27.00 price objective on shares of Perimeter Solutions in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Perimeter Solutions in a research report on Wednesday, October 8th. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Finally, Wall Street Zen downgraded shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $26.00.

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.