CenterBook Partners LP Increases Stake in Perimeter Solutions, SA $PRM

CenterBook Partners LP grew its stake in shares of Perimeter Solutions, SA (NYSE:PRM) by 58.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,798 shares of the company’s stock after buying an additional 28,698 shares during the period. CenterBook Partners LP owned 0.05% of Perimeter Solutions worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Abacus Wealth Partners LLC purchased a new position in shares of Perimeter Solutions during the fourth quarter valued at about $523,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Perimeter Solutions by 239.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,900 shares of the company’s stock valued at $1,524,000 after buying an additional 38,703 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in Perimeter Solutions by 395.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 144,893 shares of the company’s stock valued at $3,244,000 after buying an additional 115,653 shares in the last quarter. SG Americas Securities LLC grew its holdings in Perimeter Solutions by 197.2% during the 4th quarter. SG Americas Securities LLC now owns 230,940 shares of the company’s stock valued at $6,358,000 after buying an additional 153,228 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in Perimeter Solutions by 1,645.6% in the 3rd quarter. Quantbot Technologies LP now owns 55,876 shares of the company’s stock worth $1,251,000 after acquiring an additional 52,675 shares during the last quarter. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Stock Up 5.2%

Shares of PRM opened at $32.70 on Wednesday. The company has a market cap of $5.33 billion, a PE ratio of -24.40 and a beta of 1.92. The business has a fifty day moving average of $29.59 and a 200 day moving average of $27.52. Perimeter Solutions, SA has a 52-week low of $13.05 and a 52-week high of $34.89. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. On average, sell-side analysts expect that Perimeter Solutions, SA will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

PRM has been the subject of a number of research reports. UBS Group increased their target price on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley boosted their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Finally, CJS Securities assumed coverage on shares of Perimeter Solutions in a report on Tuesday. They issued a “market outperform” rating and a $48.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.67.

Insiders Place Their Bets

In other news, insider Jeffrey Emery sold 53,537 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total value of $1,790,812.65. Following the sale, the insider directly owned 53,537 shares in the company, valued at approximately $1,790,812.65. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Haitham Khouri sold 117,511 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $31.19, for a total value of $3,665,168.09. Following the sale, the chief executive officer directly owned 1,874,615 shares of the company’s stock, valued at $58,469,241.85. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 679,535 shares of company stock valued at $21,846,411 over the last 90 days. Insiders own 13.10% of the company’s stock.

About Perimeter Solutions

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.