Principal Financial Group Inc. Purchases 1,634,158 Shares of Perimeter Solutions, SA $PRM

Principal Financial Group Inc. increased its position in Perimeter Solutions, SA (NYSE:PRM) by 15.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,513,159 shares of the company’s stock after buying an additional 1,634,158 shares during the period. Principal Financial Group Inc. owned 0.08% of Perimeter Solutions worth $305,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRM. Arax Advisory Partners lifted its stake in Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after acquiring an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after purchasing an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Perimeter Solutions during the 2nd quarter valued at $42,000. Comerica Bank lifted its stake in shares of Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Perimeter Solutions by 55.7% in the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock valued at $69,000 after purchasing an additional 899 shares during the last quarter. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Price Performance

Shares of Perimeter Solutions stock opened at $33.33 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. The company has a market cap of $5.44 billion, a PE ratio of -24.87 and a beta of 1.90. The firm has a fifty day moving average price of $33.38 and a two-hundred day moving average price of $28.79. Perimeter Solutions, SA has a fifty-two week low of $15.43 and a fifty-two week high of $38.17.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The company had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. Analysts expect that Perimeter Solutions, SA will post 1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PRM shares. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Zacks Research downgraded Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. CJS Securities initiated coverage on Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Perimeter Solutions in a report on Thursday, July 9th. They set an “overweight” rating and a $50.00 price objective on the stock. Finally, UBS Group raised their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Transactions at Perimeter Solutions

In related news, major shareholder Windacre Partnership Llc sold 1,875,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00. Following the transaction, the insider directly owned 16,148,621 shares in the company, valued at $547,438,251.90. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kyle Sable sold 49,540 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $33.09, for a total value of $1,639,278.60. Following the completion of the transaction, the chief financial officer directly owned 49,540 shares of the company’s stock, valued at approximately $1,639,278.60. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,385,514 shares of company stock valued at $217,464,393 in the last ninety days. 13.10% of the stock is owned by corporate 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.