JPMorgan Chase & Co. Reduces Position in Perimeter Solutions, SA (NYSE:PRM)

JPMorgan Chase & Co. cut its holdings in shares of Perimeter Solutions, SA (NYSE:PRM - Free Report) by 45.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,884,988 shares of the company's stock after selling 4,104,625 shares during the period. JPMorgan Chase & Co. owned 3.34% of Perimeter Solutions worth $65,703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP bought a new stake in Perimeter Solutions during the third quarter worth about $52,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Perimeter Solutions in the 3rd quarter worth approximately $138,000. Landscape Capital Management L.L.C. bought a new position in Perimeter Solutions during the 3rd quarter valued at approximately $148,000. Jag Capital Management LLC purchased a new position in Perimeter Solutions during the third quarter valued at $158,000. Finally, CWM LLC boosted its holdings in Perimeter Solutions by 22.8% in the third quarter. CWM LLC now owns 12,251 shares of the company's stock worth $165,000 after acquiring an additional 2,276 shares in the last quarter. Institutional investors own 89.93% of the company's stock.

Insiders Place Their Bets

In other news, CEO Haitham Khouri sold 80,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.05, for a total transaction of $964,000.00. Following the transaction, the chief executive officer now directly owns 429,989 shares of the company's stock, valued at $5,181,367.45. This represents a 15.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tracy Britt Cool sold 50,000 shares of Perimeter Solutions stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.81, for a total value of $640,500.00. Following the completion of the sale, the director now directly owns 173,449 shares of the company's stock, valued at $2,221,881.69. The trade was a 22.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,156 shares of company stock valued at $2,579,197. 8.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised their price target on Perimeter Solutions from $14.00 to $18.00 and gave the company an "overweight" rating in a report on Monday, September 16th.

Perimeter Solutions Stock Down 2.3 %

Shares of NYSE PRM traded down $0.29 during midday trading on Friday, hitting $12.40. The stock had a trading volume of 863,842 shares, compared to its average volume of 698,471. The company has a market cap of $1.81 billion, a P/E ratio of -10.97 and a beta of 1.93. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67. The business's 50 day moving average is $13.02 and its 200-day moving average is $11.50. Perimeter Solutions, SA has a 52 week low of $3.88 and a 52 week high of $14.44.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.61) 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 analysts' expectations of $265.30 million. Perimeter Solutions had a negative net margin of 30.57% and a negative return on equity of 10.08%. During the same quarter in the prior year, the business posted $0.31 earnings per share. As a group, analysts predict that Perimeter Solutions, SA will post -1.1 EPS for the current year.

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.