CenterBook Partners LP Sells 369,543 Shares of Perimeter Solutions, SA $PRM

CenterBook Partners LP lessened its stake in shares of Perimeter Solutions, SA (NYSE:PRM) by 88.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,100 shares of the company’s stock after selling 369,543 shares during the period. CenterBook Partners LP’s holdings in Perimeter Solutions were worth $1,099,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in shares of Perimeter Solutions during the 3rd quarter worth $27,000. Brown Lisle Cummings Inc. acquired a new position in shares of Perimeter Solutions in the 3rd quarter valued at approximately $45,000. TD Private Client Wealth LLC lifted its holdings in shares of Perimeter Solutions by 1,450.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock worth $47,000 after acquiring an additional 1,972 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Perimeter Solutions during the 2nd quarter worth approximately $42,000. Finally, Cullen Frost Bankers Inc. increased its stake in Perimeter Solutions by 161.2% in the second quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock valued at $43,000 after acquiring an additional 1,928 shares during the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PRM shares. UBS Group downgraded Perimeter Solutions from a “buy” rating to a “neutral” rating and raised their target price for the company from $30.00 to $31.00 in a report on Monday, January 12th. Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Thursday, January 22nd. Finally, Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a research note on Monday, December 15th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $33.00.

Perimeter Solutions Trading Down 1.2%

Shares of PRM stock opened at $26.64 on Friday. Perimeter Solutions, SA has a twelve month low of $8.76 and a twelve month high of $29.88. The stock’s fifty day simple moving average is $27.57 and its 200 day simple moving average is $24.54. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.94 billion, a P/E ratio of 63.42 and a beta of 1.96.

Insider Activity

In related news, CFO Kyle Sable sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $28.47, for a total value of $2,847,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is owned by corporate insiders.

About Perimeter Solutions

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.