MUFG Securities EMEA plc acquired a new position in Platform Specialty Products Co. (NYSE:PAH) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 920,000 shares of the specialty chemicals company’s stock, valued at approximately $8,860,000. MUFG Securities EMEA plc owned 0.32% of Platform Specialty Products at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Platform Specialty Products by 69.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,365 shares of the specialty chemicals company’s stock worth $113,000 after buying an additional 4,662 shares in the last quarter. Kazazian Asset Management LLC purchased a new position in Platform Specialty Products during the fourth quarter worth about $130,000. Investors Research Corp purchased a new position in Platform Specialty Products during the fourth quarter worth about $134,000. SeaCrest Wealth Management LLC purchased a new position in Platform Specialty Products during the fourth quarter worth about $145,000. Finally, Suntrust Banks Inc. purchased a new position in Platform Specialty Products during the fourth quarter worth about $191,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.
A number of equities research analysts have weighed in on PAH shares. Zacks Investment Research upgraded shares of Platform Specialty Products from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Wednesday, March 7th. ValuEngine cut shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $13.83.
PAH stock opened at $11.25 on Friday. Platform Specialty Products Co. has a 12 month low of $11.05 and a 12 month high of $11.18. The firm has a market capitalization of $3.18 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 0.80 and a beta of 3.14. The company has a quick ratio of 1.57, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.
Platform Specialty Products (NYSE:PAH) last posted its quarterly earnings results on Thursday, May 3rd. The specialty chemicals company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The business had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $906.10 million. Platform Specialty Products had a negative net margin of 6.05% and a positive return on equity of 8.25%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 EPS. equities research analysts forecast that Platform Specialty Products Co. will post 0.98 earnings per share for the current fiscal year.
Platform Specialty Products Profile
Platform Specialty Products Corporation produces and sells specialty chemical products worldwide. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers.
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