Perimeter Solutions (NYSE:PRM) CFO Kyle Sable Sells 20,460 Shares

Perimeter Solutions, SA (NYSE:PRM) CFO Kyle Sable sold 20,460 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $32.89, for a total value of $672,929.40. Following the completion of the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $657,800. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Kyle Sable also recently made the following trade(s):

• On Friday, May 8th, Kyle Sable sold 150,000 shares of Perimeter Solutions stock. The shares were sold at an average price of $31.52, for a total value of $4,728,000.00.
• On Tuesday, May 12th, Kyle Sable sold 30,000 shares of Perimeter Solutions stock. The shares were sold at an average price of $31.75, for a total value of $952,500.00.

Perimeter Solutions Stock Performance

Shares of NYSE:PRM traded down $0.07 during mid-day trading on Tuesday, reaching $32.09. 1,431,547 shares of the company traded hands, compared to its average volume of 1,099,286. The company’s 50 day moving average price is $25.65 and its 200-day moving average price is $26.35. The firm has a market cap of $5.23 billion, a PE ratio of -23.95 and a beta of 1.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.22 and a quick ratio of 2.42. Perimeter Solutions, SA has a 52 week low of $11.55 and a 52 week high of $34.29.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $125.07 million for the quarter, compared to analysts’ expectations of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.55%. On average, equities analysts expect that Perimeter Solutions, SA will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new position in shares of Perimeter Solutions during the third quarter valued at about $27,000. Arax Advisory Partners lifted its position in shares of Perimeter Solutions by 122.8% in 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 stake 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 valued at $31,000 after buying an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Perimeter Solutions during the 2nd quarter valued at approximately $42,000. Finally, Comerica Bank increased its stake in Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after acquiring an additional 1,324 shares during the last quarter. Institutional investors own 89.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PRM has been the subject of several recent analyst reports. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings raised Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday. Morgan Stanley boosted their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group upped their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.