Wellington Management Group LLP Takes Position in Perimeter Solutions, SA $PRM

Wellington Management Group LLP acquired a new stake in shares of Perimeter Solutions, SA (NYSE:PRM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 621,669 shares of the company’s stock, valued at approximately $22,162,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC bought a new position in shares of Perimeter Solutions in the fourth quarter worth approximately $523,000. Bessemer Group Inc. raised its position in shares of Perimeter Solutions by 61.2% during the 1st quarter. Bessemer Group Inc. now owns 1,064,925 shares of the company’s stock valued at $26,006,000 after purchasing an additional 404,417 shares during the period. Sei Investments Co. raised its position in shares of Perimeter Solutions by 100.1% during the 1st quarter. Sei Investments Co. now owns 90,407 shares of the company’s stock valued at $2,208,000 after purchasing an additional 45,227 shares during the period. Bank of America Corp DE lifted its stake in shares of 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 valued at $42,444,000 after buying an additional 79,083 shares in the last quarter. Finally, Argos Wealth Advisors LLC bought a new position in Perimeter Solutions in the 4th quarter worth $961,000. 89.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PRM shares. CJS Securities assumed coverage on Perimeter Solutions in a research note on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price target for the company. Wall Street Zen downgraded Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings lowered Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Morgan Stanley lifted their target price on Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. lowered their price target on Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Perimeter Solutions presently has an average rating of “Hold” and a consensus price target of $41.75.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of Perimeter Solutions stock in a transaction 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 completion of the transaction, the insider directly owned 18,461,121 shares of the company’s stock, valued at $639,862,453.86. This trade represents a 15.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 5,705,979 shares of company stock valued at $195,617,982. Company insiders own 13.10% of the company’s stock.

Perimeter Solutions Stock Up 0.5%

Shares of PRM opened at $31.91 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.57 and a quick ratio of 0.93. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of -14.31 and a beta of 1.90. Perimeter Solutions, SA has a 1 year low of $19.70 and a 1 year high of $38.17. The business’s 50 day simple moving average is $33.30 and its 200-day simple moving average is $30.27.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $213.81 million during the quarter, compared to the consensus estimate of $216.89 million. Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%. As a group, equities analysts expect that Perimeter Solutions, SA will post 1.54 earnings per share for the current fiscal year.

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.