Perimeter Solutions, SA $PRM Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Perimeter Solutions, SA (NYSE:PRM) by 17.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,034,505 shares of the company’s stock after selling 437,113 shares during the period. Corient Private Wealth LLC’s holdings in Perimeter Solutions were worth $55,940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRM. Jones Financial Companies Lllp bought a new stake in Perimeter Solutions in the third quarter worth about $27,000. Arax Advisory Partners lifted its holdings in shares of Perimeter Solutions by 122.8% during the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after purchasing an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after purchasing an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Perimeter Solutions in the 2nd quarter valued at $42,000. Finally, Comerica Bank raised its holdings in shares of Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after acquiring an additional 1,324 shares during the period. Institutional investors own 89.93% of the company’s stock.

Insider Activity

In other news, insider Jeffrey Emery sold 53,537 shares of Perimeter Solutions stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $33.45, for a total transaction 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. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Sable sold 49,540 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total transaction of $1,639,278.60. Following the completion of the transaction, the chief financial officer directly owned 49,540 shares of the company’s stock, valued at $1,639,278.60. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 679,535 shares of company stock worth $21,846,411. Corporate insiders own 13.10% of the company’s stock.

Perimeter Solutions Price Performance

Shares of Perimeter Solutions stock opened at $37.86 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. The firm has a fifty day moving average price of $31.41 and a two-hundred day moving average price of $28.02. Perimeter Solutions, SA has a fifty-two week low of $13.16 and a fifty-two week high of $38.17. The company has a market cap of $6.18 billion, a PE ratio of -28.26 and a beta of 1.92.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The business had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Analysts expect that Perimeter Solutions, SA will post 1.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. UBS Group boosted their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. CJS Securities began coverage on shares of Perimeter Solutions in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price objective for the company. Finally, Morgan Stanley increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $40.67.

Perimeter Solutions Company 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.