Perimeter Solutions (NYSE:PRM) Reaches New 1-Year High – Here’s What Happened

Perimeter Solutions, SA (NYSE:PRM) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.33 and last traded at $15.26, with a volume of 2039982 shares. The stock had previously closed at $14.07.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PRM. Morgan Stanley reduced their price target on Perimeter Solutions from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Wall Street Zen lowered shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, UBS Group upgraded Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, March 26th.

Perimeter Solutions Trading Up 8.5%

The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 19.32 and a beta of 1.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.23 and a quick ratio of 3.56. The business has a fifty day moving average of $12.25 and a 200-day moving average of $11.57.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. Perimeter Solutions had a net margin of 23.23% and a negative return on equity of 4.33%. The company had revenue of $72.03 million during the quarter, compared to analyst estimates of $75.00 million. On average, equities analysts anticipate that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, Director Vivek Raj sold 32,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $11.70, for a total transaction of $374,400.00. Following the transaction, the director directly owned 68,132 shares of the company’s stock, valued at $797,144.40. This represents a 31.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Windacre Partnership Master Fu bought 254,600 shares of Perimeter Solutions stock in a transaction that occurred on Friday, June 27th. The stock was bought at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the acquisition, the insider owned 21,854,600 shares in the company, valued at approximately $305,527,308. The trade was a 1.18% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 303,094 shares of company stock valued at $3,587,021 over the last 90 days. Corporate insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRM. Vanguard Group Inc. raised its stake in Perimeter Solutions by 136.8% during the 4th quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company’s stock valued at $104,944,000 after purchasing an additional 4,744,069 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Perimeter Solutions during the 4th quarter worth approximately $41,780,000. Pacer Advisors Inc. bought a new position in shares of Perimeter Solutions in the first quarter valued at about $13,743,000. JPMorgan Chase & Co. lifted its position in Perimeter Solutions by 19.9% during the 4th quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company’s stock worth $74,847,000 after buying an additional 971,623 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Perimeter Solutions by 10,103.3% during the 4th quarter. Bessemer Group Inc. now owns 923,811 shares of the company’s stock worth $11,806,000 after acquiring an additional 914,757 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Perimeter Solutions Company Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.