TenCore Partners LP Trims Stock Holdings in Perimeter Solutions, SA $PRM

TenCore Partners LP lessened its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 9.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 437,150 shares of the company’s stock after selling 45,000 shares during the period. Perimeter Solutions accounts for 4.3% of TenCore Partners LP’s holdings, making the stock its 10th biggest holding. TenCore Partners LP owned about 0.30% of Perimeter Solutions worth $9,788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Perimeter Solutions by 0.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,012,789 shares of the company’s stock worth $246,577,000 after acquiring an additional 57,244 shares during the period. Geode Capital Management LLC boosted its position 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 valued at $45,834,000 after purchasing an additional 98,953 shares in the last quarter. Bank of America Corp DE grew its stake in 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 worth $31,654,000 after purchasing an additional 599,972 shares during the period. Equitable Trust Co. increased its holdings in Perimeter Solutions by 5.4% in the second quarter. Equitable Trust Co. now owns 2,253,341 shares of the company’s stock worth $31,367,000 after purchasing an additional 116,220 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in Perimeter Solutions by 9.3% in the second quarter. Primecap Management Co. CA now owns 2,097,551 shares of the company’s stock valued at $29,198,000 after buying an additional 178,271 shares during the period. Institutional investors and hedge funds own 89.93% of the company’s stock.

Insider Activity

In related news, CFO Kyle Sable sold 100,000 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $28.47, for a total transaction of $2,847,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by insiders.

Perimeter Solutions Price Performance

Shares of NYSE PRM opened at $26.99 on Friday. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 64.26 and a beta of 1.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. Perimeter Solutions, SA has a fifty-two week low of $8.76 and a fifty-two week high of $29.88. The firm’s 50-day simple moving average is $27.88 and its 200 day simple moving average is $23.82.

Analyst Upgrades and Downgrades

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

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.