GSA Capital Partners LLP Has $1.20 Million Stake in Platform Specialty Products Corporation (PAH)

GSA Capital Partners LLP grew its stake in shares of Platform Specialty Products Corporation (NYSE:PAH) by 468.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,656 shares of the specialty chemicals company’s stock after buying an additional 88,722 shares during the period. GSA Capital Partners LLP’s holdings in Platform Specialty Products were worth $1,200,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC raised its stake in Platform Specialty Products by 12.7% during the 2nd quarter. FMR LLC now owns 22,055,440 shares of the specialty chemicals company’s stock valued at $279,663,000 after purchasing an additional 2,483,623 shares during the period. Janus Henderson Group PLC bought a new stake in Platform Specialty Products during the 2nd quarter valued at approximately $31,220,000. Glenview Capital Management LLC raised its stake in Platform Specialty Products by 17.9% during the 2nd quarter. Glenview Capital Management LLC now owns 13,203,633 shares of the specialty chemicals company’s stock valued at $167,422,000 after purchasing an additional 2,000,000 shares during the period. AXA bought a new stake in Platform Specialty Products during the 2nd quarter valued at approximately $22,303,000. Finally, Capital World Investors raised its stake in Platform Specialty Products by 13.1% during the 2nd quarter. Capital World Investors now owns 12,080,829 shares of the specialty chemicals company’s stock valued at $153,185,000 after purchasing an additional 1,398,319 shares during the period. 93.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Platform Specialty Products Corporation (NYSE PAH) opened at $10.29 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.05 and a debt-to-equity ratio of 1.77. Platform Specialty Products Corporation has a 12 month low of $9.11 and a 12 month high of $14.82. The stock has a market capitalization of $2,896.81, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.07 and a beta of 3.19.

Platform Specialty Products (NYSE:PAH) last released its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. The firm had revenue of $904.30 million during the quarter, compared to the consensus estimate of $912.19 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. sell-side analysts expect that Platform Specialty Products Corporation will post 0.77 earnings per share for the current year.

In other news, insider Diego Lopez Casanello acquired 4,000 shares of Platform Specialty Products stock in a transaction on Tuesday, December 19th. The shares were acquired at an average price of $9.91 per share, with a total value of $39,640.00. Following the purchase, the insider now directly owns 15,000 shares in the company, valued at approximately $148,650. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Martin E. Franklin acquired 500,000 shares of Platform Specialty Products stock in a transaction on Monday, December 18th. The stock was purchased at an average cost of $9.66 per share, for a total transaction of $4,830,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 669,467 shares of company stock worth $6,453,139. Corporate insiders own 5.20% of the company’s stock.

Several brokerages recently issued reports on PAH. ValuEngine downgraded Platform Specialty Products from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays decreased their target price on Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Zacks Investment Research downgraded Platform Specialty Products from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. SunTrust Banks reissued a “buy” rating and set a $15.00 target price on shares of Platform Specialty Products in a research note on Friday, November 3rd. Finally, Credit Suisse Group began coverage on Platform Specialty Products in a research note on Wednesday, November 15th. They set a “neutral” rating and a $12.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.50.

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Platform Specialty Products 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 (NYSE:PAH)

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