450,817 Shares in Perimeter Solutions, SA $PRM Purchased by Weitz Investment Management Inc.

Weitz Investment Management Inc. purchased a new stake in Perimeter Solutions, SA (NYSE:PRM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 450,817 shares of the company’s stock, valued at approximately $16,072,000. Perimeter Solutions comprises 1.1% of Weitz Investment Management Inc.’s holdings, making the stock its 25th largest position.

Several other large investors have also recently bought and sold shares of PRM. Financial Management Professionals Inc. acquired a new stake in Perimeter Solutions during the second quarter worth approximately $26,000. Arax Advisory Partners grew its position in shares of Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after purchasing an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Perimeter Solutions by 51.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after purchasing an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Perimeter Solutions during the second quarter worth approximately $42,000. Finally, Comerica Bank increased its stake in shares of Perimeter Solutions by 45.0% during the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares during the period. 89.93% of the stock is owned by institutional investors.

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $34.66, for a total transaction of $117,617,982.14. Following the completion of the transaction, the insider directly owned 18,461,121 shares in the company, valued at $639,862,453.86. The trade was a 15.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 5,705,979 shares of company stock valued at $195,617,982 over the last quarter. Company insiders own 13.10% of the company’s stock.

Perimeter Solutions Trading Up 1.3%

PRM opened at $31.48 on Friday. Perimeter Solutions, SA has a twelve month low of $18.68 and a twelve month high of $38.17. The company has a 50-day simple moving average of $34.35 and a 200 day simple moving average of $29.92. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of -14.12 and a beta of 1.91.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%.The firm had revenue of $213.81 million for the quarter, compared to analyst estimates of $216.89 million. Analysts predict that Perimeter Solutions, SA will post 1.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PRM. UBS Group lifted their price target on Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen cut Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Zacks Research cut Perimeter Solutions from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. CJS Securities began coverage on Perimeter Solutions in a report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 target price for the company. Finally, Weiss Ratings cut shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Perimeter Solutions has an average rating of “Hold” and an average price target of $41.75.

Perimeter Solutions 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.