Luminus Management LLC bought a new stake in Platform Specialty Products Corp (NYSE:PAH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 311,000 shares of the specialty chemicals company’s stock, valued at approximately $3,085,000. Luminus Management LLC owned 0.11% of Platform Specialty Products as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in Platform Specialty Products during the third quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Platform Specialty Products by 69.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,365 shares of the specialty chemicals company’s stock worth $113,000 after purchasing an additional 4,662 shares during the period. Investors Research Corp bought a new stake in Platform Specialty Products during the fourth quarter worth about $134,000. SeaCrest Wealth Management LLC bought a new stake in Platform Specialty Products during the fourth quarter worth about $145,000. Finally, Suntrust Banks Inc. bought a new stake in Platform Specialty Products during the fourth quarter worth about $191,000. 92.24% of the stock is owned by institutional investors.
Platform Specialty Products Corp (NYSE PAH) opened at $10.76 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.69 and a current ratio of 2.14. The company has a market capitalization of $3,174.08, a PE ratio of -10.45, a price-to-earnings-growth ratio of 0.79 and a beta of 3.18. Platform Specialty Products Corp has a 52 week low of $9.11 and a 52 week high of $14.82.
PAH has been the subject of several recent analyst reports. ValuEngine cut shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research cut shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Credit Suisse Group initiated coverage on shares of Platform Specialty Products in a research report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Platform Specialty Products presently has a consensus rating of “Hold” and an average price target of $14.43.
In other Platform Specialty Products news, Director Martin E. Franklin bought 164,467 shares of the stock in a transaction on Thursday, December 14th. The stock was purchased at an average price of $9.57 per share, with a total value of $1,573,949.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Martin E. Franklin bought 500,000 shares of the stock in a transaction on Monday, December 18th. The shares were acquired at an average cost of $9.66 per share, with a total value of $4,830,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 668,467 shares of company stock valued at $6,443,589. Insiders own 5.20% of the company’s stock.
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Platform Specialty Products Company Profile
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, the Asia-Pacific, and Europe. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers plating products that are used to plate holes; electroless nickel products, which are applied to various metal and plastic surfaces; electronic assembly materials for use in the electronic market and residential boiler systems; final finishes that are used on printed circuit boards; circuit formation products for surface preparation; oxides, which are used in the fabrication of multilayer circuit boards; semiconductor materials and packaging products; and pre-treatment and cleaning solutions.
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