Principal Financial Group Inc. Sells 49,130 Shares of Perimeter Solutions, SA (NYSE:PRM)

Principal Financial Group Inc. cut its holdings in Perimeter Solutions, SA (NYSE:PRM) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,533,725 shares of the company’s stock after selling 49,130 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of Perimeter Solutions worth $141,679,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Pennant Select LLC grew its holdings in Perimeter Solutions by 41.6% in the third quarter. Pennant Select LLC now owns 814,000 shares of the company’s stock worth $10,948,000 after purchasing an additional 239,000 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Perimeter Solutions in the 3rd quarter worth approximately $945,000. Dimensional Fund Advisors LP increased its position in Perimeter Solutions by 59.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock valued at $14,708,000 after buying an additional 698,622 shares in the last quarter. FMR LLC raised its stake in Perimeter Solutions by 2,993.1% during the third quarter. FMR LLC now owns 307,426 shares of the company’s stock valued at $4,135,000 after buying an additional 297,487 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its holdings in Perimeter Solutions by 239.3% in the second quarter. Maverick Capital Ltd. now owns 227,477 shares of the company’s stock worth $1,781,000 after acquiring an additional 160,432 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised their price target on Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, September 16th.

Insiders Place Their Bets

In related news, Director Tracy Britt Cool sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $12.81, for a total value of $640,500.00. Following the sale, the director now owns 173,449 shares in the company, valued at approximately $2,221,881.69. This trade represents a 22.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Haitham Khouri sold 80,000 shares of Perimeter Solutions stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.05, for a total transaction of $964,000.00. Following the completion of the sale, the chief executive officer now directly owns 429,989 shares of the company’s stock, valued at approximately $5,181,367.45. This trade represents a 15.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,156 shares of company stock valued at $2,579,197. 8.70% of the stock is owned by insiders.

Perimeter Solutions Trading Up 1.7 %

NYSE:PRM opened at $12.93 on Friday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -11.44 and a beta of 1.93. 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 company’s 50 day moving average price is $13.08 and its 200-day moving average price is $11.05. Perimeter Solutions, SA has a 52 week low of $3.88 and a 52 week high of $14.44.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.22). The business had revenue of $288.42 million during the quarter, compared to the consensus estimate of $265.30 million. Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. During the same period in the previous year, the business posted $0.31 EPS. On average, equities research analysts forecast that Perimeter Solutions, SA will post -1.1 earnings per share for the current fiscal year.

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.