Federated Hermes Inc. Acquires 297,562 Shares of Perimeter Solutions, SA $PRM

Federated Hermes Inc. boosted its holdings in Perimeter Solutions, SA (NYSE:PRM) by 52,387.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 298,130 shares of the company’s stock after purchasing an additional 297,562 shares during the quarter. Federated Hermes Inc.’s holdings in Perimeter Solutions were worth $6,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC bought a new position in shares of Perimeter Solutions during the second quarter worth approximately $42,000. Comerica Bank boosted its stake in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after buying an additional 1,324 shares during the period. Cullen Frost Bankers Inc. grew its position in Perimeter Solutions by 161.2% during the second quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock worth $43,000 after buying an additional 1,928 shares in the last quarter. Brown Lisle Cummings Inc. bought a new position in Perimeter Solutions during the 3rd quarter worth $45,000. Finally, TD Private Client Wealth LLC increased its stake in Perimeter Solutions by 1,450.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock worth $47,000 after acquiring an additional 1,972 shares during the period. Institutional investors and hedge funds own 89.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PRM shares. Morgan Stanley set a $35.00 target price on Perimeter Solutions in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Thursday, January 22nd. UBS Group downgraded shares of Perimeter Solutions from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $30.00 to $31.00 in a research note on Monday, January 12th. Finally, Zacks Research lowered shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

Perimeter Solutions Price Performance

Shares of PRM stock opened at $26.18 on Tuesday. The business has a fifty day simple moving average of $27.96 and a 200 day simple moving average of $23.65. The company has a market cap of $3.87 billion, a P/E ratio of 62.33 and a beta of 1.97. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61. Perimeter Solutions, SA has a twelve month low of $8.76 and a twelve month high of $29.88.

Insider Activity at Perimeter Solutions

In other news, CFO Kyle Sable sold 100,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $28.47, for a total value of $2,847,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.00% 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.