Principal Financial Group Inc. Buys 57,244 Shares of Perimeter Solutions, SA $PRM

Principal Financial Group Inc. increased its position in Perimeter Solutions, SA (NYSE:PRM) by 0.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,012,789 shares of the company’s stock after buying an additional 57,244 shares during the quarter. Principal Financial Group Inc. owned approximately 0.08% of Perimeter Solutions worth $246,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Comerica Bank increased its stake in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares in the last quarter. Royal Bank of Canada increased its stake in Perimeter Solutions by 100.0% in the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock worth $812,000 after buying an additional 40,294 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Perimeter Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock valued at $801,000 after acquiring an additional 3,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Perimeter Solutions by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company’s stock worth $3,305,000 after acquiring an additional 14,949 shares during the period. Finally, KLP Kapitalforvaltning AS raised its stake in Perimeter Solutions by 16.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 30,700 shares of the company’s stock valued at $427,000 after purchasing an additional 4,300 shares during the period. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Insider Activity

In related news, CFO Kyle Sable sold 100,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $28.47, for a total transaction of $2,847,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Perimeter Solutions Price Performance

NYSE:PRM opened at $26.14 on Monday. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 62.24 and a beta of 1.96. The business has a 50 day simple moving average of $27.97 and a 200-day simple moving average of $23.59. Perimeter Solutions, SA has a 1 year low of $8.76 and a 1 year high of $29.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.22 and a quick ratio of 1.72.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, October 30th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. The business had revenue of $315.44 million for the quarter, compared to the consensus estimate of $238.27 million. Equities analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PRM shares. UBS Group lowered shares of Perimeter Solutions from a “buy” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $31.00 in a report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Thursday, January 22nd. Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a research note on Monday, December 15th. Finally, Zacks Research downgraded shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Perimeter Solutions currently has a consensus rating of “Hold” and a consensus target price of $33.00.

About Perimeter Solutions

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.