Weitz Investment Management Inc. Trims Holdings in Perimeter Solutions, SA $PRM

Weitz Investment Management Inc. decreased its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 62.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 744,972 shares of the company’s stock after selling 1,215,928 shares during the period. Weitz Investment Management Inc. owned 0.50% of Perimeter Solutions worth $16,680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpha Wave Global LP purchased a new position in shares of Perimeter Solutions during the second quarter valued at approximately $11,155,000. Bank of America Corp DE boosted its holdings in Perimeter Solutions by 35.8% in the second quarter. Bank of America Corp DE now owns 2,274,018 shares of the company’s stock valued at $31,654,000 after acquiring an additional 599,972 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Perimeter Solutions by 57.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,417,351 shares of the company’s stock valued at $19,730,000 after acquiring an additional 518,875 shares in the last quarter. Skye Global Management LP increased its position in Perimeter Solutions by 485.2% during the 2nd quarter. Skye Global Management LP now owns 614,500 shares of the company’s stock valued at $8,554,000 after purchasing an additional 509,500 shares during the period. Finally, CenterBook Partners LP raised its holdings in Perimeter Solutions by 354.8% in the 2nd quarter. CenterBook Partners LP now owns 418,643 shares of the company’s stock worth $5,828,000 after purchasing an additional 326,594 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Trading Up 0.7%

Shares of NYSE PRM opened at $26.37 on Wednesday. Perimeter Solutions, SA has a 1 year low of $8.76 and a 1 year high of $29.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.22 and a quick ratio of 1.72. The firm has a 50-day moving average of $27.50 and a 200 day moving average of $24.79. The stock has a market cap of $3.90 billion, a P/E ratio of 62.78 and a beta of 1.96.

Insider Activity

In other news, CFO Kyle Sable sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $28.47, for a total value of $2,847,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

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

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.