AlphaQuest LLC Buys 20,709 Shares of Perimeter Solutions, SA $PRM

AlphaQuest LLC boosted its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 251.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,944 shares of the company’s stock after buying an additional 20,709 shares during the quarter. AlphaQuest LLC’s holdings in Perimeter Solutions were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Perimeter Solutions by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,292,279 shares of the company’s stock worth $45,834,000 after purchasing an additional 98,953 shares during the period. Bank of America Corp DE boosted its position in shares of Perimeter Solutions by 35.8% during the second quarter. Bank of America Corp DE now owns 2,274,018 shares of the company’s stock valued at $31,654,000 after buying an additional 599,972 shares during the period. Equitable Trust Co. grew its stake in shares of Perimeter Solutions by 5.4% during the second quarter. Equitable Trust Co. now owns 2,253,341 shares of the company’s stock valued at $31,367,000 after buying an additional 116,220 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Perimeter Solutions by 9.3% in the second quarter. Primecap Management Co. CA now owns 2,097,551 shares of the company’s stock worth $29,198,000 after buying an additional 178,271 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Perimeter Solutions by 57.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,417,351 shares of the company’s stock worth $19,730,000 after buying an additional 518,875 shares during the period. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PRM. UBS Group downgraded Perimeter Solutions from a “buy” rating to a “neutral” rating and upped their price objective for the company from $30.00 to $31.00 in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Perimeter Solutions in a report on Thursday, January 22nd. Morgan Stanley set a $35.00 target price on shares of Perimeter Solutions in a report on Monday, December 15th. Finally, Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.00.

Perimeter Solutions Trading Up 0.8%

Shares of NYSE:PRM opened at $26.82 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $27.93 and a two-hundred day moving average of $23.74. Perimeter Solutions, SA has a 12-month low of $8.76 and a 12-month high of $29.88. The company has a market capitalization of $3.97 billion, a PE ratio of 63.86 and a beta of 1.96.

Insider Activity at Perimeter Solutions

In other news, CFO Kyle Sable sold 100,000 shares of Perimeter Solutions stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $28.47, for a total value of $2,847,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.00% of the stock is owned by company insiders.

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.