SG Americas Securities LLC Reduces Position in Perimeter Solutions, SA $PRM

SG Americas Securities LLC trimmed its holdings in Perimeter Solutions, SA (NYSE:PRM) by 78.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 50,919 shares of the company’s stock after selling 180,021 shares during the quarter. SG Americas Securities LLC’s holdings in Perimeter Solutions were worth $1,243,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Arax Advisory Partners lifted its stake 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 acquiring an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Perimeter Solutions by 51.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after acquiring an additional 389 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Perimeter Solutions in the second quarter worth approximately $42,000. Comerica Bank raised its holdings in shares of Perimeter Solutions by 45.0% during the first 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 raised its holdings in shares of Perimeter Solutions by 55.7% during the fourth 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. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Insider Activity

In other news, insider Jeffrey Emery sold 99,963 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $32.92, for a total transaction of $3,290,781.96. Following the transaction, the insider owned 46,500 shares of the company’s stock, valued at approximately $1,530,780. This represents a 68.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $34.66, for a total value of $117,617,982.14. Following the transaction, the insider directly owned 18,461,121 shares in the company, valued at approximately $639,862,453.86. This represents a 15.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 6,385,514 shares of company stock valued at $217,464,393. 13.10% of the stock is currently owned by company insiders.

Perimeter Solutions Stock Down 0.2%

NYSE PRM opened at $33.86 on Friday. The company has a quick ratio of 1.61, a current ratio of 3.09 and a debt-to-equity ratio of 1.01. Perimeter Solutions, SA has a 52 week low of $15.00 and a 52 week high of $38.17. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -25.27 and a beta of 1.90. The company has a fifty day moving average of $32.96 and a two-hundred day moving average of $28.50.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The business 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%. On average, analysts predict that Perimeter Solutions, SA will post 1.78 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on PRM shares. Weiss Ratings upgraded shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Morgan Stanley lifted their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. CJS Securities began coverage on Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price target on the stock. Finally, UBS Group raised 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 research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.67.

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.