Investors Research Corp bought a new stake in Platform Specialty Products Corp (NYSE:PAH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,500 shares of the specialty chemicals company’s stock, valued at approximately $134,000.
Several other institutional investors have also bought and sold shares of the stock. State Street Corp raised its holdings in shares of Platform Specialty Products by 8.0% in the second quarter. State Street Corp now owns 2,602,838 shares of the specialty chemicals company’s stock worth $33,006,000 after acquiring an additional 192,086 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Platform Specialty Products by 22.1% in the second quarter. Public Employees Retirement System of Ohio now owns 102,485 shares of the specialty chemicals company’s stock valued at $1,300,000 after purchasing an additional 18,553 shares during the last quarter. First Trust Advisors LP grew its position in Platform Specialty Products by 67.5% during the third quarter. First Trust Advisors LP now owns 926,580 shares of the specialty chemicals company’s stock valued at $10,331,000 after acquiring an additional 373,343 shares during the period. American Century Companies Inc. grew its position in Platform Specialty Products by 28.5% during the third quarter. American Century Companies Inc. now owns 226,146 shares of the specialty chemicals company’s stock valued at $2,522,000 after acquiring an additional 50,210 shares during the period. Finally, Swiss National Bank grew its position in Platform Specialty Products by 3.2% during the third quarter. Swiss National Bank now owns 382,889 shares of the specialty chemicals company’s stock valued at $4,269,000 after acquiring an additional 11,700 shares during the period. Hedge funds and other institutional investors own 92.24% of the company’s stock.
In other news, insider Diego Lopez Casanello bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were acquired at an average cost of $9.91 per share, with a total value of $39,640.00. Following the completion of the transaction, the insider now directly owns 15,000 shares in the company, valued at $148,650. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin E. Franklin bought 164,467 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was purchased at an average price of $9.57 per share, with a total value of $1,573,949.19. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 668,467 shares of company stock worth $6,443,589. 5.20% of the stock is currently owned by company insiders.
PAH has been the subject of several analyst reports. Credit Suisse Group initiated coverage on Platform Specialty Products in a research report on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 target price for the company. Zacks Investment Research upgraded Platform Specialty Products from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, ValuEngine cut Platform Specialty Products from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $14.43.
Platform Specialty Products Corp (NYSE:PAH) traded down $0.18 on Wednesday, hitting $10.58. The stock had a trading volume of 2,578,963 shares, compared to its average volume of 3,768,129. The company has a market cap of $3,174.08, a price-to-earnings ratio of -10.31, a PEG ratio of 0.79 and a beta of 3.18. Platform Specialty Products Corp has a 1-year low of $9.11 and a 1-year high of $14.82. The company has a current ratio of 2.14, a quick ratio of 1.69 and a debt-to-equity ratio of 1.90.
Platform Specialty Products (NYSE:PAH) last announced its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $978.56 million. Platform Specialty Products had a positive return on equity of 7.69% and a negative net margin of 7.84%. Platform Specialty Products’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. equities research analysts expect that Platform Specialty Products Corp will post 0.99 EPS for the current fiscal year.
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About Platform Specialty Products
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.
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