Perimeter Solutions (NYSE:PRM) Trading 5.6% Higher - Here's What Happened

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s share price was up 5.6% during mid-day trading on Thursday . The company traded as high as $10.51 and last traded at $10.58. Approximately 275,690 shares traded hands during trading, a decline of 67% from the average daily volume of 837,361 shares. The stock had previously closed at $10.02.

Analysts Set New Price Targets

Separately, UBS Group raised shares of Perimeter Solutions from a "neutral" rating to a "buy" rating and set a $14.00 target price for the company in a research report on Wednesday, March 26th.

Perimeter Solutions Stock Down 2.3 %

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 stock's 50-day moving average price is $10.97 and its two-hundred day moving average price is $12.25. The stock has a market capitalization of $1.51 billion, a PE ratio of -71.87 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.21. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. The business had revenue of $86.23 million during the quarter, compared to the consensus estimate of $77.01 million. As a group, analysts expect that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

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Insider Activity at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the sale, the director now directly owns 471,226 shares of the company's stock, valued at approximately $4,321,142.42. This represents a 34.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PRM. Principal Financial Group Inc. raised its holdings in Perimeter Solutions by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 10,694,289 shares of the company's stock worth $136,673,000 after acquiring an additional 160,564 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Perimeter Solutions by 136.8% in the fourth quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company's stock worth $104,944,000 after purchasing an additional 4,744,069 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Perimeter Solutions by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock valued at $74,847,000 after purchasing an additional 971,623 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Perimeter Solutions during the fourth quarter valued at $41,780,000. Finally, Dimensional Fund Advisors LP increased its holdings in Perimeter Solutions by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,113,380 shares of the company's stock worth $39,789,000 after buying an additional 579,987 shares in the last quarter. Institutional investors own 89.93% of the company's stock.

Perimeter Solutions Company 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.