Perimeter Solutions (NYSE:PRM) CEO Haitham Khouri Sells 117,511 Shares

Perimeter Solutions, SA (NYSE:PRM) CEO Haitham Khouri sold 117,511 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the completion of the transaction, the chief executive officer owned 1,874,615 shares of the company’s stock, valued at $58,469,241.85. This trade represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Haitham Khouri also recently made the following trade(s):

• On Thursday, May 21st, Haitham Khouri sold 91,724 shares of Perimeter Solutions stock. The shares were sold at an average price of $31.91, for a total value of $2,926,912.84.
• On Wednesday, May 20th, Haitham Khouri sold 20,300 shares of Perimeter Solutions stock. The shares were sold at an average price of $34.09, for a total value of $692,027.00.

Perimeter Solutions Stock Performance

NYSE:PRM traded down $0.26 during trading on Friday, reaching $31.15. The company’s stock had a trading volume of 1,266,852 shares, compared to its average volume of 1,124,907. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -23.24 and a beta of 1.93. Perimeter Solutions, SA has a 12 month low of $11.58 and a 12 month high of $34.89. The firm has a 50 day moving average of $27.15 and a 200-day moving average of $26.96.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share 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 the consensus estimate of $121.80 million. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%. Research analysts expect that Perimeter Solutions, SA will post 1.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PRM. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Morgan Stanley increased their price target on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, UBS Group increased their price target on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Institutional Trading of Perimeter Solutions

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Perimeter Solutions by 4.8% during the 1st quarter. Bank of America Corp DE now owns 1,738,095 shares of the company’s stock worth $42,444,000 after purchasing an additional 79,083 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Perimeter Solutions by 8.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock worth $97,863,000 after purchasing an additional 315,763 shares in the last quarter. Amundi purchased a new stake in Perimeter Solutions during the 1st quarter worth about $482,000. EverSource Wealth Advisors LLC lifted its holdings in Perimeter Solutions by 20.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company’s stock worth $56,000 after purchasing an additional 383 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Perimeter Solutions by 24.2% during the 1st quarter. California State Teachers Retirement System now owns 164,346 shares of the company’s stock worth $4,013,000 after purchasing an additional 32,073 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

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.