The Manufacturers Life Insurance Company Sells 4,209 Shares of Perimeter Solutions, SA (NYSE:PRM)

The Manufacturers Life Insurance Company lessened its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 7.9% during the second quarter, HoldingsChannel.com reports. The fund owned 48,854 shares of the company’s stock after selling 4,209 shares during the period. The Manufacturers Life Insurance Company’s holdings in Perimeter Solutions were worth $383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRM. Dimensional Fund Advisors LP grew its stake in Perimeter Solutions by 59.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock worth $14,708,000 after buying an additional 698,622 shares in the last quarter. Maverick Capital Ltd. raised its holdings in Perimeter Solutions by 239.3% in the 2nd quarter. Maverick Capital Ltd. now owns 227,477 shares of the company’s stock worth $1,781,000 after purchasing an additional 160,432 shares in the last quarter. Senator Investment Group LP increased its stake in shares of Perimeter Solutions by 5.7% in the 1st quarter. Senator Investment Group LP now owns 2,114,300 shares of the company’s stock worth $15,688,000 after acquiring an additional 114,300 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Perimeter Solutions by 6.7% in the 4th quarter. Wellington Management Group LLP now owns 1,551,489 shares of the company’s stock worth $7,137,000 after acquiring an additional 97,372 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Perimeter Solutions by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 10,573,592 shares of the company’s stock worth $78,456,000 after acquiring an additional 54,626 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Stock Performance

PRM opened at $13.41 on Thursday. Perimeter Solutions, SA has a 12-month low of $2.79 and a 12-month high of $13.67. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -58.28 and a beta of 2.02. The company’s 50 day moving average is $11.89 and its 200 day moving average is $9.26. The company has a current ratio of 3.61, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $127.28 million for the quarter, compared to analysts’ expectations of $113.41 million. During the same quarter last year, the business posted ($0.05) earnings per share. On average, equities research analysts predict that Perimeter Solutions, SA will post 0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Perimeter Solutions from $8.75 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Morgan Stanley raised their price target on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, September 16th.

Perimeter Solutions Profile

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.