Insider Selling: Perimeter Solutions (NYSE:PRM) CFO Sells $1,639,278.60 in Stock

Perimeter Solutions, SA (NYSE:PRM) CFO Kyle Sable sold 49,540 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total transaction of $1,639,278.60. Following the completion of the transaction, the chief financial officer owned 49,540 shares of the company’s stock, valued at $1,639,278.60. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $31.52, for a total transaction of $4,728,000.00.
• On Monday, May 11th, Kyle Sable sold 20,460 shares of Perimeter Solutions stock. The stock was sold at an average price of $32.89, for a total transaction of $672,929.40.
• On Tuesday, May 12th, Kyle Sable sold 30,000 shares of Perimeter Solutions stock. The stock was sold at an average price of $31.75, for a total transaction of $952,500.00.

Perimeter Solutions Stock Down 0.1%

Shares of NYSE PRM opened at $33.21 on Monday. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $26.41 and a two-hundred day simple moving average of $26.68. The firm has a market capitalization of $5.42 billion, a PE ratio of -24.78 and a beta of 1.93. Perimeter Solutions, SA has a 12 month low of $11.55 and a 12 month high of $34.89.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. Equities analysts expect that Perimeter Solutions, SA will post 1.91 earnings per share for the current year.

Institutional Trading of Perimeter Solutions

Several institutional investors have recently bought and sold shares of PRM. Jones Financial Companies Lllp purchased a new stake in Perimeter Solutions during the 3rd quarter valued at about $27,000. Arax Advisory Partners grew its position in Perimeter Solutions by 122.8% during the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after purchasing an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in 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 during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Perimeter Solutions during the 2nd quarter valued at about $42,000. Finally, Comerica Bank grew its position in 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 purchasing an additional 1,324 shares during the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PRM shares. Morgan Stanley increased their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. UBS Group increased their price target on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.