Sen. Markwayne Mullin Purchases Shares of Primo Brands Co. (NYSE:PRMB)

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Primo Brands Co. (NYSE:PRMB). In a filing disclosed on January 31st, the Senator disclosed that they had bought between $15,001 and $50,000 in Primo Brands stock on January 2nd.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of iShares Core MSCI EAFE ETF (BATS:IEFA) on 1/8/2025.
• Sold $15,001 – $50,000 in shares of iShares MSCI Eurozone ETF (BATS:EZU) on 1/8/2025.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 1/8/2025.
• Purchased $15,001 – $50,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Iron Mountain (NYSE:IRM) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Coherent (NYSE:COHR) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Westinghouse Air Brake Technologies (NYSE:WAB) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Dell Technologies (NYSE:DELL) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Applied Industrial Technologies (NYSE:AIT) on 1/2/2025.

Primo Brands Price Performance

Shares of PRMB stock opened at $32.51 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The company has a market cap of $12.33 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09. Primo Brands Co. has a 1 year low of $14.10 and a 1 year high of $33.65. The company’s fifty day simple moving average is $31.05.

Primo Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, November 22nd. Primo Brands’s dividend payout ratio is presently 27.95%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $28,000. Blue Trust Inc. purchased a new position in Primo Brands during the fourth quarter valued at $33,000. R Squared Ltd bought a new stake in Primo Brands in the 4th quarter valued at $42,000. Nisa Investment Advisors LLC purchased a new stake in Primo Brands in the 4th quarter worth $176,000. Finally, Entropy Technologies LP purchased a new stake in Primo Brands in the 4th quarter worth $236,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PRMB shares. TD Securities boosted their price target on Primo Brands from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada boosted their price objective on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Primo Brands in a research note on Monday, November 18th. They set a “buy” rating and a $33.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on shares of Primo Brands in a research report on Monday, January 6th. They set an “outperform” rating and a $40.00 price objective on the stock.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

Primo Brands Company Profile

Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo’s revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through major retailers and online at various price points or leased to customers.