Marshall Wace North America L.P. grew its position in shares of Platform Specialty Products Corp (NYSE:PAH) by 26.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,251,290 shares of the specialty chemicals company’s stock after purchasing an additional 263,457 shares during the quarter. Marshall Wace North America L.P. owned approximately 0.43% of Platform Specialty Products worth $15,604,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of PAH. FMR LLC grew its holdings in shares of Platform Specialty Products by 17.2% during the second quarter. FMR LLC now owns 30,966,786 shares of the specialty chemicals company’s stock worth $359,215,000 after purchasing an additional 4,533,865 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Platform Specialty Products during the second quarter worth about $45,154,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Platform Specialty Products during the third quarter worth about $38,749,000. Dimensional Fund Advisors LP grew its holdings in shares of Platform Specialty Products by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 14,899,218 shares of the specialty chemicals company’s stock worth $172,827,000 after purchasing an additional 2,398,849 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in shares of Platform Specialty Products during the third quarter worth about $24,399,000. 94.50% of the stock is currently owned by institutional investors.
Shares of PAH opened at $11.02 on Friday. Platform Specialty Products Corp has a fifty-two week low of $9.09 and a fifty-two week high of $13.54. The stock has a market cap of $3.27 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 36.35 and a beta of 3.01. The company has a debt-to-equity ratio of 2.55, a current ratio of 2.19 and a quick ratio of 2.00.
Platform Specialty Products (NYSE:PAH) last announced its earnings results on Thursday, November 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Platform Specialty Products had a negative net margin of 14.14% and a positive return on equity of 8.48%. The business had revenue of $488.50 million during the quarter, compared to the consensus estimate of $500.69 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Platform Specialty Products Corp will post 0.14 EPS for the current year.
Several brokerages have issued reports on PAH. Zacks Investment Research raised Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Citigroup set a $12.00 price objective on Platform Specialty Products and gave the stock a “hold” rating in a report on Monday, November 5th. ValuEngine raised Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Finally, Nomura dropped their price objective on Platform Specialty Products from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, October 15th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $13.00.
In other news, Director Ian G. H. Ashken acquired 7,500 shares of Platform Specialty Products stock in a transaction that occurred on Friday, November 9th. The stock was purchased at an average price of $10.99 per share, for a total transaction of $82,425.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin E. Franklin acquired 549,000 shares of Platform Specialty Products stock in a transaction that occurred on Tuesday, November 6th. The stock was purchased at an average price of $10.97 per share, with a total value of $6,022,530.00. The disclosure for this purchase can be found here. Insiders have bought 805,000 shares of company stock valued at $8,788,615 in the last quarter. Insiders own 5.40% of the company’s stock.
Platform Specialty Products Profile
Platform Specialty Products Corporation produces and sells specialty chemical products worldwide. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers.
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