Perimeter Solutions (NYSE:PRM) Major Shareholder Sells $14,437,500.00 in Stock

Perimeter Solutions, SA (NYSE:PRM) major shareholder Windacre Partnership Llc sold 437,500 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $33.00, for a total value of $14,437,500.00. Following the completion of the sale, the insider owned 18,023,621 shares of the company’s stock, valued at $594,779,493. This represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Windacre Partnership Llc also recently made the following trade(s):

• On Tuesday, June 30th, Windacre Partnership Llc sold 1,875,000 shares of Perimeter Solutions stock. The stock was sold at an average price of $33.90, for a total transaction of $63,562,500.00.
• On Friday, June 26th, Windacre Partnership Llc sold 3,393,479 shares of Perimeter Solutions stock. The stock was sold at an average price of $34.66, for a total value of $117,617,982.14.

Perimeter Solutions Stock Performance

Shares of NYSE PRM opened at $33.86 on Friday. Perimeter Solutions, SA has a 52 week low of $15.00 and a 52 week high of $38.17. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.61 and a current ratio of 3.09. The stock has a 50 day moving average price of $32.89 and a 200 day moving average price of $28.46. The stock has a market capitalization of $5.52 billion, a PE ratio of -25.27 and a beta of 1.89.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. Analysts predict that Perimeter Solutions, SA will post 1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, UBS Group increased their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Perimeter Solutions currently has a consensus rating of “Buy” and an average price target of $40.67.

Institutional Investors Weigh In On Perimeter Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in Perimeter Solutions by 15.0% in the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock valued at $305,572,000 after buying an additional 1,634,158 shares during the last quarter. Vanguard Group Inc. raised its position in Perimeter Solutions by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company’s stock worth $235,951,000 after acquiring an additional 156,788 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Perimeter Solutions by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock worth $115,188,000 after purchasing an additional 221,290 shares during the period. Janus Henderson Group PLC lifted its position in shares of Perimeter Solutions by 8.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock valued at $97,863,000 after buying an additional 315,763 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Perimeter Solutions by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock valued at $94,218,000 after purchasing an additional 122,435 shares during the last quarter. 89.93% of the stock is owned by institutional investors.

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.