Rhumbline Advisers Sells 16,339 Shares of Perimeter Solutions, SA (NYSE:PRM)

Rhumbline Advisers cut its stake in Perimeter Solutions, SA (NYSE:PRM) by 7.0% in the 2nd quarter, Holdings Channel reports. The firm owned 218,437 shares of the company’s stock after selling 16,339 shares during the period. Rhumbline Advisers’ holdings in Perimeter Solutions were worth $1,710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pennant Investors LP lifted its stake in shares of Perimeter Solutions by 43.8% in the 4th quarter. Pennant Investors LP now owns 2,300,000 shares of the company’s stock worth $10,580,000 after purchasing an additional 700,000 shares during the period. Pennant Select LLC bought a new stake in Perimeter Solutions in the fourth quarter worth $2,645,000. CenterBook Partners LP increased its position in Perimeter Solutions by 278.8% in the fourth quarter. CenterBook Partners LP now owns 393,127 shares of the company’s stock worth $1,808,000 after purchasing an additional 289,348 shares during the last quarter. Equitable Trust Co. increased its position in Perimeter Solutions by 10.5% in the first quarter. Equitable Trust Co. now owns 2,117,843 shares of the company’s stock worth $15,714,000 after purchasing an additional 200,632 shares during the last quarter. Finally, Senator Investment Group LP increased its position in Perimeter Solutions by 5.7% in the first quarter. Senator Investment Group LP now owns 2,114,300 shares of the company’s stock worth $15,688,000 after purchasing an additional 114,300 shares during the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Stock Performance

Shares of Perimeter Solutions stock opened at $12.51 on Friday. Perimeter Solutions, SA has a 52 week low of $2.79 and a 52 week high of $12.75. The company has a 50 day moving average price of $10.42 and a 200 day moving average price of $8.39. The company has a quick ratio of 1.87, a current ratio of 3.61 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $1.82 billion, a P/E ratio of -54.39 and a beta of 2.00.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.11. Perimeter Solutions had a negative net margin of 14.12% and a positive return on equity of 2.94%. The business had revenue of $127.28 million for the quarter, compared to analysts’ expectations of $113.41 million. During the same quarter last year, the company earned ($0.05) EPS. Sell-side analysts expect that Perimeter Solutions, SA will post 0.49 EPS for the current year.

Analysts Set New Price Targets

PRM has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. UBS Group upped their price target on shares of Perimeter Solutions from $8.75 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th.

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.