State Street Corp Grows Stock Position in Perimeter Solutions, SA (NYSE:PRM)

State Street Corp raised its holdings in shares of Perimeter Solutions, SA (NYSE:PRM) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,271,189 shares of the company’s stock after acquiring an additional 6,537 shares during the quarter. State Street Corp owned approximately 2.24% of Perimeter Solutions worth $43,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in shares of Perimeter Solutions by 130.2% during the 2nd quarter. SG Americas Securities LLC now owns 26,650 shares of the company’s stock worth $209,000 after purchasing an additional 15,072 shares in the last quarter. Bank of New York Mellon Corp increased its position in Perimeter Solutions by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 509,868 shares of the company’s stock worth $3,992,000 after buying an additional 21,012 shares in the last quarter. Versor Investments LP acquired a new position in shares of Perimeter Solutions in the second quarter worth $102,000. National Bank of Canada FI lifted its position in shares of Perimeter Solutions by 1,523.9% in the second quarter. National Bank of Canada FI now owns 33,614 shares of the company’s stock valued at $254,000 after acquiring an additional 31,544 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its stake in shares of Perimeter Solutions by 120.9% during the second quarter. Wedbush Securities Inc. now owns 47,074 shares of the company’s stock valued at $369,000 after acquiring an additional 25,765 shares during the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley boosted their target price on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

Perimeter Solutions Stock Up 3.0 %

Shares of NYSE PRM opened at $12.71 on Friday. The firm’s 50 day moving average price is $13.08 and its 200 day moving average price is $11.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. The firm has a market cap of $1.86 billion, a P/E ratio of -11.25 and a beta of 1.93. Perimeter Solutions, SA has a 1 year low of $3.88 and a 1 year high of $14.44.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($1.22). The business had revenue of $288.42 million for the quarter, compared to analyst estimates of $265.30 million. Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. During the same quarter last year, the business earned $0.31 EPS. As a group, sell-side analysts anticipate that Perimeter Solutions, SA will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Tracy Britt Cool sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.81, for a total transaction of $640,500.00. Following the completion of the transaction, the director now owns 173,449 shares of the company’s stock, valued at approximately $2,221,881.69. This represents a 22.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Haitham Khouri sold 80,156 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $12.16, for a total transaction of $974,696.96. Following the transaction, the chief executive officer now directly owns 249,833 shares in the company, valued at approximately $3,037,969.28. This represents a 24.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,156 shares of company stock valued at $2,579,197. Insiders own 8.70% of the company’s stock.

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.