BlackRock Inc. Has $113.40 Million Holdings in Platform Specialty Products Corporation (PAH)

BlackRock Inc. reduced its stake in shares of Platform Specialty Products Corporation (NYSE:PAH) by 14.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,942,992 shares of the specialty chemicals company’s stock after selling 1,449,952 shares during the quarter. BlackRock Inc. owned about 3.12% of Platform Specialty Products Corporation worth $113,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PAH. Public Employees Retirement Association of Colorado boosted its position in shares of Platform Specialty Products Corporation by 1.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 43,242 shares of the specialty chemicals company’s stock valued at $548,000 after buying an additional 779 shares during the period. Amalgamated Bank boosted its position in shares of Platform Specialty Products Corporation by 2.9% during the first quarter. Amalgamated Bank now owns 27,979 shares of the specialty chemicals company’s stock valued at $364,000 after buying an additional 787 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Platform Specialty Products Corporation by 1.4% during the first quarter. Public Employees Retirement System of Ohio now owns 83,932 shares of the specialty chemicals company’s stock valued at $1,093,000 after buying an additional 1,197 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Platform Specialty Products Corporation by 19.8% during the second quarter. Teacher Retirement System of Texas now owns 18,016 shares of the specialty chemicals company’s stock valued at $228,000 after buying an additional 2,975 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Platform Specialty Products Corporation by 2.9% during the second quarter. Alliancebernstein L.P. now owns 111,450 shares of the specialty chemicals company’s stock valued at $1,413,000 after buying an additional 3,145 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on PAH. Barclays PLC dropped their target price on Platform Specialty Products Corporation from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Zacks Investment Research lowered Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. SunTrust Banks, Inc. upgraded Platform Specialty Products Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $15.00 in a research report on Monday, September 18th. BidaskClub lowered Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, UBS AG restated a “buy” rating and set a $17.00 target price (up previously from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.50.

In related news, Director Ian G. H. Ashken bought 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $10.98 per share, for a total transaction of $494,100.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rakesh Sachdev bought 11,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average price of $11.06 per share, with a total value of $121,660.00. Following the acquisition, the chief executive officer now directly owns 11,000 shares in the company, valued at approximately $121,660. The disclosure for this purchase can be found here. Insiders purchased a total of 60,500 shares of company stock valued at $664,865 in the last quarter. 6.00% of the stock is owned by insiders.

Shares of Platform Specialty Products Corporation (NYSE:PAH) opened at 11.07 on Thursday. The company has a 50 day moving average price of $11.45 and a 200-day moving average price of $12.61. Platform Specialty Products Corporation has a one year low of $7.11 and a one year high of $14.82. The stock’s market cap is $3.17 billion.

Platform Specialty Products Corporation (NYSE:PAH) last posted its earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Platform Specialty Products Corporation had a negative net margin of 0.26% and a positive return on equity of 7.15%. The firm had revenue of $941.10 million during the quarter, compared to the consensus estimate of $933.32 million. During the same quarter last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts predict that Platform Specialty Products Corporation will post $0.79 earnings per share for the current fiscal year.

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A number of other hedge funds and other institutional investors also recently modified their holdings of PAH. Public Employees Retirement Association of Colorado boosted its position in shares of Platform Specialty Products Corporation by 1.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 43,242 shares of the specialty chemicals company’s stock valued at $548,000 after buying an additional 779 shares during the period. Amalgamated Bank boosted its position in shares of Platform Specialty Products Corporation by 2.9% during the first quarter. Amalgamated Bank now owns 27,979 shares of the specialty chemicals company’s stock valued at $364,000 after buying an additional 787 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Platform Specialty Products Corporation by 1.4% during the first quarter. Public Employees Retirement System of Ohio now owns 83,932 shares of the specialty chemicals company’s stock valued at $1,093,000 after buying an additional 1,197 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Platform Specialty Products Corporation by 19.8% during the second quarter. Teacher Retirement System of Texas now owns 18,016 shares of the specialty chemicals company’s stock valued at $228,000 after buying an additional 2,975 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Platform Specialty Products Corporation by 2.9% during the second quarter. Alliancebernstein L.P. now owns 111,450 shares of the specialty chemicals company’s stock valued at $1,413,000 after buying an additional 3,145 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on PAH. Barclays PLC dropped their target price on Platform Specialty Products Corporation from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Zacks Investment Research lowered Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. SunTrust Banks, Inc. upgraded Platform Specialty Products Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $15.00 in a research report on Monday, September 18th. BidaskClub lowered Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, UBS AG restated a “buy” rating and set a $17.00 target price (up previously from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.50.

In related news, Director Ian G. H. Ashken bought 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $10.98 per share, for a total transaction of $494,100.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rakesh Sachdev bought 11,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average price of $11.06 per share, with a total value of $121,660.00. Following the acquisition, the chief executive officer now directly owns 11,000 shares in the company, valued at approximately $121,660. The disclosure for this purchase can be found here. Insiders purchased a total of 60,500 shares of company stock valued at $664,865 in the last quarter. 6.00% of the stock is owned by insiders.

Shares of Platform Specialty Products Corporation (NYSE:PAH) opened at 11.07 on Thursday. The company has a 50 day moving average price of $11.45 and a 200-day moving average price of $12.61. Platform Specialty Products Corporation has a one year low of $7.11 and a one year high of $14.82. The stock’s market cap is $3.17 billion.

Platform Specialty Products Corporation (NYSE:PAH) last posted its earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Platform Specialty Products Corporation had a negative net margin of 0.26% and a positive return on equity of 7.15%. The firm had revenue of $941.10 million during the quarter, compared to the consensus estimate of $933.32 million. During the same quarter last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts predict that Platform Specialty Products Corporation will post $0.79 earnings per share for the current fiscal year.

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Platform Specialty Products Corporation Company Profile

Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, the Asia-Pacific, and Europe. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers plating products that are used to plate holes; electroless nickel products, which are applied to various metal and plastic surfaces; electronic assembly materials for use in the electronic market and residential boiler systems; final finishes that are used on printed circuit boards; circuit formation products for surface preparation; oxides, which are used in the fabrication of multilayer circuit boards; semiconductor materials and packaging products; and pre-treatment and cleaning solutions.

Institutional Ownership by Quarter for Platform Specialty Products Corporation (NYSE:PAH)

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