William Thorndike, Jr. Sells 100,000 Shares of Perimeter Solutions (NYSE:PRM) Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 100,000 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $24.06, for a total transaction of $2,406,000.00. Following the completion of the sale, the director owned 8,960,656 shares of the company’s stock, valued at approximately $215,593,383.36. The trade was a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Perimeter Solutions Trading Down 3.5%

Shares of Perimeter Solutions stock opened at $23.49 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.22 and a quick ratio of 1.72. The stock’s 50 day simple moving average is $26.88 and its 200-day simple moving average is $25.06. The stock has a market cap of $3.51 billion, a P/E ratio of -16.54 and a beta of 1.98. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $29.88.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The firm had revenue of $102.75 million during the quarter, compared to analysts’ expectations of $94.05 million. Analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its position in shares of Perimeter Solutions by 157.3% during the fourth quarter. Invesco Ltd. now owns 1,294,686 shares of the company’s stock valued at $35,643,000 after acquiring an additional 791,558 shares during the last quarter. State of Tennessee Department of Treasury purchased a new position in shares of Perimeter Solutions during the 4th quarter worth approximately $139,000. Mackenzie Financial Corp acquired a new stake in Perimeter Solutions in the 4th quarter valued at approximately $242,000. Empowered Funds LLC purchased a new stake in Perimeter Solutions in the fourth quarter valued at approximately $417,000. Finally, Voloridge Investment Management LLC purchased a new stake in Perimeter Solutions in the fourth quarter valued at approximately $6,681,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PRM shares. Zacks Research lowered shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. Weiss Ratings cut shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, March 2nd. UBS Group cut their price target on shares of Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a research report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.50.

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.