Perimeter Solutions, SA $PRM Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 18.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,767,739 shares of the company’s stock after selling 627,708 shares during the period. Brown Brothers Harriman & Co. owned 1.87% of Perimeter Solutions worth $61,970,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Perimeter Solutions by 16.4% during the third quarter. GAMMA Investing LLC now owns 3,577 shares of the company’s stock worth $80,000 after purchasing an additional 504 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Perimeter Solutions in the 3rd quarter valued at approximately $27,000. Comerica Bank boosted its holdings in 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 in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Perimeter Solutions by 1,450.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock valued at $47,000 after acquiring an additional 1,972 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new stake in Perimeter Solutions in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group decreased their target price on Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, March 4th. Weiss Ratings downgraded Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, March 2nd. Morgan Stanley set a $35.00 price target on Perimeter Solutions in a research report on Monday, December 15th. Finally, Zacks Research downgraded Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Perimeter Solutions currently has an average rating of “Hold” and an average target price of $30.50.

Insider Activity

In other news, Director William N. Thorndike, Jr. sold 125,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $23.37, for a total value of $2,921,250.00. Following the sale, the director owned 8,735,656 shares in the company, valued at approximately $204,152,280.72. The trade was a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 450,000 shares of company stock worth $10,722,750 over the last three months. 10.00% of the stock is currently owned by company insiders.

Perimeter Solutions Trading Down 1.1%

PRM stock opened at $22.79 on Friday. Perimeter Solutions, SA has a 1-year low of $8.76 and a 1-year high of $29.88. The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $26.44 and its 200-day moving average is $25.16. The firm has a market cap of $3.40 billion, a P/E ratio of -16.05 and a beta of 1.98.

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

Perimeter Solutions 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.