Lombard Odier Asset Management USA Corp Sells 55,903 Shares of Perimeter Solutions, SA $PRM

Lombard Odier Asset Management USA Corp decreased its stake in shares of Perimeter Solutions, SA (NYSE:PRM) by 65.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 29,912 shares of the company’s stock after selling 55,903 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Perimeter Solutions were worth $730,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Comerica Bank increased its position in Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after acquiring an additional 1,324 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Perimeter Solutions by 100.0% during the first quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock worth $812,000 after purchasing an additional 40,294 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 purchasing an additional 3,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Perimeter Solutions by 4.8% during 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 valued at $3,305,000 after purchasing an additional 14,949 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Perimeter Solutions in the second quarter valued at approximately $2,128,000. Institutional investors own 89.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PRM. Weiss Ratings cut shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 14th. Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Wall Street Zen cut Perimeter Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group lifted their target price on Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, CJS Securities started coverage on Perimeter Solutions in a research report on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 target price for the company. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Perimeter Solutions Stock Down 0.8%

Shares of NYSE PRM opened at $33.77 on Friday. Perimeter Solutions, SA has a 1 year low of $15.43 and a 1 year high of $38.17. The firm’s 50-day moving average is $33.79 and its 200-day moving average is $29.15. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $5.51 billion, a PE ratio of -25.20 and a beta of 1.90.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. The business had revenue of $125.07 million during the quarter, compared to the consensus estimate of $121.80 million. Equities analysts expect that Perimeter Solutions, SA will post 1.66 EPS for the current year.

Insider Buying and Selling at Perimeter Solutions

In other news, CEO Haitham Khouri sold 117,511 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $31.19, for a total value of $3,665,168.09. Following the transaction, the chief executive officer owned 1,874,615 shares of the company’s stock, valued at $58,469,241.85. This represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey Emery sold 53,537 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total value of $1,790,812.65. Following the completion of the transaction, the insider owned 53,537 shares in the company, valued at $1,790,812.65. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,385,514 shares of company stock worth $217,464,393 over the last quarter. 13.10% of the stock is currently owned by insiders.

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.