Perimeter Solutions, SA $PRM Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 57.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,417,351 shares of the company’s stock after buying an additional 518,875 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Perimeter Solutions were worth $19,730,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new position in shares of Perimeter Solutions during the first quarter worth about $8,056,000. Raymond James Financial Inc. increased its position in Perimeter Solutions by 364.0% during the 1st quarter. Raymond James Financial Inc. now owns 926,084 shares of the company’s stock worth $9,326,000 after purchasing an additional 726,484 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Perimeter Solutions by 2,927.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 438,784 shares of the company’s stock worth $4,419,000 after buying an additional 424,290 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Perimeter Solutions in the 1st quarter valued at approximately $3,515,000. Finally, CenterBook Partners LP boosted its stake in shares of Perimeter Solutions by 354.8% in the second quarter. CenterBook Partners LP now owns 418,643 shares of the company’s stock valued at $5,828,000 after buying an additional 326,594 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Price Performance

Shares of NYSE:PRM opened at $28.66 on Monday. The stock has a market cap of $4.24 billion, a PE ratio of 68.24 and a beta of 1.96. The business’s fifty day moving average price is $24.20 and its two-hundred day moving average price is $19.56. Perimeter Solutions, SA has a one year low of $8.76 and a one year high of $28.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, October 30th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. The firm had revenue of $315.44 million during the quarter, compared to the consensus estimate of $238.27 million. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. On average, analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group increased their price objective on Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 price target on shares of Perimeter Solutions in a report on Friday, October 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Perimeter Solutions in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $26.00.

Insider Activity at Perimeter Solutions

In other news, Director Vivek Raj sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $22.45, for a total transaction of $561,250.00. Following the completion of the transaction, the director owned 121,701 shares of the company’s stock, valued at $2,732,187.45. This represents a 17.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.00% of the stock is currently owned by corporate insiders.

About Perimeter Solutions

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.