Perimeter Solutions (NYSE:PRM) Sets New 12-Month High – Still a Buy?

Perimeter Solutions, SA (NYSE:PRM)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $32.01 and last traded at $31.61, with a volume of 455961 shares changing hands. The stock had previously closed at $29.36.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group upped their price objective on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Research raised Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings lowered Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Finally, Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.50.

Perimeter Solutions Stock Up 8.6%

The company has a fifty day simple moving average of $25.37 and a 200-day simple moving average of $26.20. The company has a quick ratio of 2.42, a current ratio of 3.22 and a debt-to-equity ratio of 0.60. The firm has a market cap of $5.20 billion, a P/E ratio of -23.80 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.55% and a negative net margin of 26.93%.The business had revenue of $125.07 million during the quarter, compared to analyst estimates of $121.80 million. On average, equities analysts anticipate that Perimeter Solutions, SA will post 1.47 earnings per share for the current year.

Insider Buying and Selling at Perimeter Solutions

In other news, Director William N. Thorndike, Jr. sold 125,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $23.37, for a total value of $2,921,250.00. Following the completion of the transaction, the director owned 8,735,656 shares of the company’s stock, valued at $204,152,280.72. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 450,000 shares of company stock valued at $10,722,750 over the last three months. Corporate insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in shares of Perimeter Solutions by 195.8% in the first quarter. PNC Financial Services Group Inc. now owns 68,052 shares of the company’s stock worth $1,662,000 after acquiring an additional 45,043 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Perimeter Solutions by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,763,465 shares of the company’s stock worth $116,286,000 after acquiring an additional 27,643 shares during the period. Swiss National Bank boosted its stake in shares of Perimeter Solutions by 1.4% in the first quarter. Swiss National Bank now owns 278,100 shares of the company’s stock worth $6,791,000 after acquiring an additional 3,900 shares during the period. Assetmark Inc. boosted its stake in shares of Perimeter Solutions by 1,512.7% in the first quarter. Assetmark Inc. now owns 4,064 shares of the company’s stock worth $99,000 after acquiring an additional 3,812 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Perimeter Solutions by 61.2% in the first quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock worth $26,006,000 after acquiring an additional 404,417 shares during the period. Institutional investors own 89.93% of the company’s stock.

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.