Procyon Advisors LLC Boosts Stake in Perimeter Solutions, SA (NYSE:PRM)

Procyon Advisors LLC lifted its holdings in Perimeter Solutions, SA (NYSE:PRM) by 14.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,912 shares of the company’s stock after buying an additional 1,897 shares during the quarter. Procyon Advisors LLC’s holdings in Perimeter Solutions were worth $150,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 acquiring an additional 4,744,069 shares during the last quarter. Corient Private Wealth LLC purchased a new position in Perimeter Solutions during the fourth quarter worth about $41,780,000. JPMorgan Chase & Co. lifted its position in Perimeter Solutions by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company’s stock worth $74,847,000 after buying an additional 971,623 shares during the period. Bessemer Group Inc. lifted its position in Perimeter Solutions by 10,103.3% during the fourth quarter. Bessemer Group Inc. now owns 923,811 shares of the company’s stock worth $11,806,000 after buying an additional 914,757 shares during the period. Finally, Catawba River Capital purchased a new position in Perimeter Solutions during the fourth quarter worth about $7,658,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRM shares. Morgan Stanley reduced their target price on Perimeter Solutions from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Wall Street Zen lowered Perimeter Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, UBS Group upgraded Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Wednesday, March 26th.

Perimeter Solutions Price Performance

Shares of NYSE PRM opened at $13.02 on Tuesday. Perimeter Solutions, SA has a fifty-two week low of $7.00 and a fifty-two week high of $14.44. The business has a 50 day moving average price of $10.94 and a two-hundred day moving average price of $11.46. 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 firm has a market cap of $1.92 billion, a PE ratio of -92.99 and a beta of 1.92.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. The firm had revenue of $72.03 million during the quarter, compared to analyst estimates of $75.00 million. Sell-side analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Perimeter Solutions news, Director Vivek Raj sold 2,284 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $12.22, for a total transaction of $27,910.48. Following the transaction, the director now owns 468,942 shares of the company’s stock, valued at $5,730,471.24. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 553,094 shares of company stock valued at $5,879,521 in the last quarter. Insiders own 10.00% of the company’s stock.

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.