KLP Kapitalforvaltning AS Acquires New Stake in Perimeter Solutions, SA (NYSE:PRM)

KLP Kapitalforvaltning AS bought a new position in shares of Perimeter Solutions, SA (NYSE:PRM) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 26,400 shares of the company’s stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRM. The Manufacturers Life Insurance Company lifted its stake in Perimeter Solutions by 34.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 65,863 shares of the company’s stock valued at $886,000 after acquiring an additional 17,009 shares in the last quarter. FMR LLC lifted its position in shares of Perimeter Solutions by 2,993.1% in the third quarter. FMR LLC now owns 307,426 shares of the company’s stock worth $4,135,000 after purchasing an additional 297,487 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Perimeter Solutions by 59.3% during the third quarter. Townsquare Capital LLC now owns 19,112 shares of the company’s stock worth $257,000 after purchasing an additional 7,118 shares during the last quarter. Verition Fund Management LLC bought a new position in Perimeter Solutions in the third quarter valued at $252,000. Finally, Centiva Capital LP bought a new position in Perimeter Solutions in the third quarter valued at $291,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

Wall Street Analyst Weigh In

Separately, 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 Stock Performance

NYSE PRM opened at $9.37 on Friday. The stock has a market cap of $1.40 billion, a PE ratio of -66.89 and a beta of 1.88. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. Perimeter Solutions, SA has a 52-week low of $6.84 and a 52-week high of $14.44. The firm has a 50-day moving average of $10.60 and a 200-day moving average of $12.17.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.21. The company had revenue of $86.23 million during the quarter, compared to analysts’ expectations of $77.01 million. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. On average, sell-side analysts anticipate that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insider Buying and Selling at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $9.17, for a total value of $2,292,500.00. Following the completion of the transaction, the director now owns 471,226 shares of the company’s stock, valued at $4,321,142.42. This represents a 34.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.70% of the company’s stock.

About Perimeter Solutions

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.