Insider Selling: Perimeter Solutions (NYSE:PRM) Director Sells 125,000 Shares of Stock

Perimeter Solutions, SA (NYSE:PRM) Director William Thorndike, Jr. sold 125,000 shares of Perimeter Solutions stock in a transaction on Monday, March 9th. The shares were sold at an average price of $23.37, for a total transaction of $2,921,250.00. Following the completion of the sale, the director owned 8,735,656 shares in the company, valued at approximately $204,152,280.72. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Perimeter Solutions Trading Down 0.6%

Shares of NYSE:PRM traded down $0.13 during trading on Wednesday, reaching $23.31. The company’s stock had a trading volume of 778,875 shares, compared to its average volume of 1,115,362. The stock has a market capitalization of $3.48 billion, a PE ratio of -16.41 and a beta of 1.98. The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60. The firm’s 50 day simple moving average is $26.63 and its two-hundred day simple moving average is $25.16. Perimeter Solutions, SA has a 12 month low of $8.76 and a 12 month high of $29.88.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The firm had revenue of $102.75 million for the quarter, compared to the consensus estimate of $94.05 million. On average, research analysts predict that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Perimeter Solutions

Several institutional investors and hedge funds have recently modified their holdings of PRM. Jones Financial Companies Lllp acquired a new position in Perimeter Solutions in the third quarter valued at approximately $27,000. Arax Advisory Partners boosted its holdings in Perimeter Solutions by 122.8% during the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after buying an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after buying an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Perimeter Solutions during the 2nd quarter worth about $42,000. Finally, Comerica Bank grew its position in shares of 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 during the period. Institutional investors and hedge funds own 89.93% of the company’s stock.

Analyst Upgrades and Downgrades

PRM has been the topic of several research reports. Morgan Stanley set a $35.00 price target on Perimeter Solutions in a research note on Monday, December 15th. UBS Group decreased their price target on shares of Perimeter Solutions from $31.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, March 4th. Zacks Research lowered shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings lowered Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Perimeter Solutions presently has an average rating of “Hold” and a consensus target price of $30.50.

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.