William Thorndike, Jr. Sells 125,000 Shares of Perimeter Solutions (NYSE:PRM) Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 125,000 shares of Perimeter Solutions stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $24.26, for a total value of $3,032,500.00. Following the completion of the transaction, the director owned 9,060,656 shares of the company’s stock, valued at approximately $219,811,514.56. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Perimeter Solutions Stock Performance

Shares of PRM opened at $23.49 on Friday. Perimeter Solutions, SA has a 52-week low of $8.76 and a 52-week high of $29.88. The stock’s 50-day simple moving average is $26.88 and its 200 day simple moving average is $25.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.72 and a current ratio of 3.22. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -16.54 and a beta of 1.98.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, February 26th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $102.75 million during the quarter, compared to analyst estimates of $94.05 million. Research analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Perimeter Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of PRM. Jones Financial Companies Lllp purchased a new stake in shares of Perimeter Solutions during the 3rd quarter valued at $27,000. Arax Advisory Partners grew its position in Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Perimeter Solutions by 51.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after acquiring an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in Perimeter Solutions in the second quarter valued at $42,000. Finally, Comerica Bank increased its stake in Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after acquiring an additional 1,324 shares during the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

Perimeter Solutions Company Profile

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.