Primo Brands (NYSE:PRMB) Stock Acquired Sen. Markwayne Mullin

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 Trading Up 0.8 %

NYSE:PRMB traded up $0.27 during mid-day trading on Tuesday, hitting $33.15. The company had a trading volume of 1,121,190 shares, compared to its average volume of 1,875,635. Primo Brands Co. has a 1 year low of $14.10 and a 1 year high of $33.65. The business has a fifty day simple moving average of $31.25. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 0.80 and a beta of 1.10.

Primo Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a $0.09 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.36 annualized dividend and a yield of 1.09%. Primo Brands's dividend payout ratio is currently 27.95%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Primo Brands

A number of institutional investors have recently made changes to their positions in PRMB. Allspring Global Investments Holdings LLC bought a new stake in shares of Primo Brands in the fourth quarter worth $111,169,000. KBC Group NV bought a new stake in shares of Primo Brands in the 4th quarter worth about $49,585,000. Bank of New York Mellon Corp acquired a new stake in shares of Primo Brands in the 4th quarter valued at about $40,563,000. New York State Common Retirement Fund bought a new position in shares of Primo Brands during the fourth quarter worth about $26,385,000. Finally, Pinnbrook Capital Management LP bought a new position in shares of Primo Brands during the fourth quarter worth about $8,901,000. 87.71% of the stock is owned by institutional investors and hedge funds.

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.