JPMorgan Chase & Co. Has $72.18 Million Stock Position in Perimeter Solutions, SA $PRM

JPMorgan Chase & Co. reduced its position in Perimeter Solutions, SA (NYSE:PRM) by 21.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,185,440 shares of the company’s stock after selling 1,429,059 shares during the quarter. JPMorgan Chase & Co.’s holdings in Perimeter Solutions were worth $72,181,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PRM. TenCore Partners LP purchased a new position in Perimeter Solutions during the 1st quarter worth approximately $3,174,000. Equitable Trust Co. boosted its position in shares of Perimeter Solutions by 5.4% in the second quarter. Equitable Trust Co. now owns 2,253,341 shares of the company’s stock worth $31,367,000 after buying an additional 116,220 shares during the period. Avidian Wealth Enterprises LLC purchased a new position in shares of Perimeter Solutions during the second quarter valued at $204,000. Repertoire Partners LP acquired a new position in Perimeter Solutions during the first quarter valued at $519,000. Finally, Bleakley Financial Group LLC lifted its stake in Perimeter Solutions by 23.0% in the 2nd quarter. Bleakley Financial Group LLC now owns 29,940 shares of the company’s stock worth $417,000 after acquiring an additional 5,595 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PRM shares. UBS Group lifted their target price on Perimeter Solutions from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 price objective on shares of Perimeter Solutions in a research note on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Perimeter Solutions in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $26.00.

Perimeter Solutions Price Performance

Shares of PRM opened at $27.88 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. The firm has a market cap of $4.12 billion, a PE ratio of 66.38 and a beta of 1.98. The firm’s 50 day moving average price is $23.60 and its 200 day moving average price is $18.90. Perimeter Solutions, SA has a twelve month low of $8.76 and a twelve month high of $28.06.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, October 30th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The company had revenue of $315.44 million during the quarter, compared to the consensus estimate of $238.27 million. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. As a group, research analysts expect that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other Perimeter Solutions news, insider Jeffrey Emery sold 300,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $22.28, for a total value of $6,684,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Sable sold 40,000 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $22.05, for a total value of $882,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,000 shares of company stock valued at $8,127,250 over the last three months. 10.00% of the stock is currently owned by insiders.

About Perimeter Solutions

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.