Bessemer Group Inc. Increases Stock Position in Perimeter Solutions, SA $PRM

Bessemer Group Inc. boosted its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 61.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,064,925 shares of the company’s stock after acquiring an additional 404,417 shares during the period. Bessemer Group Inc.’s holdings in Perimeter Solutions were worth $26,006,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Perimeter Solutions by 15.0% in the first quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after acquiring an additional 1,634,158 shares during the period. Vanguard Group Inc. grew its position in shares of Perimeter Solutions by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company’s stock valued at $235,951,000 after acquiring an additional 156,788 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Perimeter Solutions by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock valued at $115,188,000 after purchasing an additional 221,290 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Perimeter Solutions by 54.9% in the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock valued at $101,634,000 after purchasing an additional 1,308,602 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Perimeter Solutions by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock worth $94,218,000 after purchasing an additional 122,435 shares during the period. Institutional investors and hedge funds own 89.93% of the company’s stock.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $33.90, for a total value of $63,562,500.00. Following the completion of the sale, the insider owned 16,148,621 shares in the company, valued at approximately $547,438,251.90. This represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction of $3,665,168.09. Following the completion of the transaction, the chief executive officer directly owned 1,874,615 shares in the company, valued at $58,469,241.85. This trade represents a 5.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,385,514 shares of company stock worth $217,464,393 in the last 90 days. 13.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRM. JPMorgan Chase & Co. initiated coverage on Perimeter Solutions in a research report on Thursday, July 9th. They set an “overweight” rating and a $50.00 price target on the stock. Zacks Research cut Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. CJS Securities initiated coverage on Perimeter Solutions in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 target price for the company. Wall Street Zen lowered Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Morgan Stanley lifted their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Perimeter Solutions Trading Down 1.5%

Shares of PRM opened at $34.34 on Friday. The firm’s fifty day moving average is $33.67 and its two-hundred day moving average is $28.92. The stock has a market cap of $5.60 billion, a PE ratio of -25.63 and a beta of 1.90. 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, SA has a 52-week low of $15.43 and a 52-week high of $38.17.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm 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%. Research analysts forecast that Perimeter Solutions, SA will post 1.66 earnings per share for the current fiscal year.

Perimeter Solutions 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.