Equitable Trust Co. Sells 262,823 Shares of Perimeter Solutions, SA $PRM

Equitable Trust Co. reduced its position in Perimeter Solutions, SA (NYSE:PRM) by 13.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,653,187 shares of the company’s stock after selling 262,823 shares during the period. Perimeter Solutions comprises 1.9% of Equitable Trust Co.’s investment portfolio, making the stock its 10th biggest position. Equitable Trust Co. owned approximately 1.01% of Perimeter Solutions worth $40,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRM. Arax Advisory Partners raised its stake in shares of Perimeter Solutions by 122.8% during the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after buying an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after acquiring an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions in the 2nd quarter valued at about $42,000. Comerica Bank increased its holdings in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after acquiring an additional 1,324 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Perimeter Solutions by 55.7% during the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock valued at $69,000 after acquiring an additional 899 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Stock Performance

Shares of NYSE PRM opened at $35.13 on Friday. The company has a market cap of $5.73 billion, a PE ratio of -26.22 and a beta of 1.90. Perimeter Solutions, SA has a 12 month low of $15.43 and a 12 month high of $38.17. 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 company has a 50-day simple moving average of $33.19 and a 200-day simple moving average of $28.67.

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

Analyst Ratings Changes

Several analysts have issued reports on PRM shares. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Wall Street Zen raised shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. started coverage on Perimeter Solutions in a research report on Thursday. They set an “overweight” rating and a $50.00 price objective for the company. Morgan Stanley upped their target price on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, CJS Securities began coverage on Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $43.00.

Insiders Place Their Bets

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of the stock in a transaction 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 transaction, the chief executive officer owned 1,874,615 shares of the company’s stock, valued at $58,469,241.85. This represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kyle Sable sold 150,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $31.52, for a total value of $4,728,000.00. Following the sale, the chief financial officer owned 20,000 shares in the company, valued at $630,400. This trade represents a 88.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 6,385,514 shares of company stock valued at $217,464,393. Insiders own 13.10% of the company’s stock.

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.