Pecaut & CO. Cuts Stake in Platform Specialty Products Corporation (PAH)

Pecaut & CO. decreased its stake in Platform Specialty Products Corporation (NYSE:PAH) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,100 shares of the specialty chemicals company’s stock after selling 1,000 shares during the period. Pecaut & CO.’s holdings in Platform Specialty Products Corporation were worth $661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Platform Specialty Products Corporation by 20,109.1% in the first quarter. BlackRock Inc. now owns 10,392,944 shares of the specialty chemicals company’s stock worth $135,317,000 after buying an additional 10,341,517 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Platform Specialty Products Corporation by 56.7% in the first quarter. Bank of America Corp DE now owns 516,858 shares of the specialty chemicals company’s stock worth $6,730,000 after buying an additional 186,929 shares during the period. Bank of Montreal Can boosted its stake in shares of Platform Specialty Products Corporation by 11.4% in the second quarter. Bank of Montreal Can now owns 1,036,120 shares of the specialty chemicals company’s stock worth $13,138,000 after buying an additional 106,060 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Platform Specialty Products Corporation by 23.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 751,124 shares of the specialty chemicals company’s stock valued at $9,780,000 after buying an additional 143,873 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Platform Specialty Products Corporation by 30.0% in the first quarter. UBS Asset Management Americas Inc. now owns 153,498 shares of the specialty chemicals company’s stock valued at $1,999,000 after buying an additional 35,441 shares during the last quarter. Institutional investors own 94.98% of the company’s stock.

Platform Specialty Products Corporation (NYSE:PAH) traded up 1.34% during trading on Friday, hitting $12.90. 3,003,012 shares of the company traded hands. The firm’s market cap is $3.69 billion. The company’s 50-day moving average is $13.20 and its 200 day moving average is $13.01. Platform Specialty Products Corporation has a 52-week low of $6.85 and a 52-week high of $14.82.

Platform Specialty Products Corporation (NYSE:PAH) last issued its earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Platform Specialty Products Corporation had a positive return on equity of 7.12% and a negative net margin of 0.26%. The company had revenue of $941.10 million for the quarter, compared to analyst estimates of $933.32 million. During the same period in the prior year, the firm posted $0.16 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Platform Specialty Products Corporation will post $0.79 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This report was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.com-unik.info/2017/08/11/platform-specialty-products-corporation-pah-shares-sold-by-pecaut-co-updated-updated-updated.html.

Several equities analysts have commented on the stock. UBS AG reiterated a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday. Instinet reduced their price target on shares of Platform Specialty Products Corporation to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, June 13th. Zacks Investment Research downgraded shares of Platform Specialty Products Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine raised shares of Platform Specialty Products Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Nomura reaffirmed a “buy” rating and issued a $16.00 price target on shares of Platform Specialty Products Corporation in a research note on Tuesday, May 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $13.10.

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

What are top analysts saying about Platform Specialty Products Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Platform Specialty Products Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit