Platform Specialty Products Target of Unusually Large Options Trading (PAH)

Platform Specialty Products Corporation (NYSE:PAH) was the target of unusually large options trading activity on Tuesday. Investors purchased 3,517 call options on the stock. This is an increase of approximately 1,013% compared to the average daily volume of 316 call options.

In related news, Director Martin E. Franklin bought 164,467 shares of Platform Specialty Products stock in a transaction dated Thursday, December 14th. The shares were acquired at an average cost of $9.57 per share, with a total value of $1,573,949.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Diego Lopez Casanello bought 4,000 shares of Platform Specialty Products stock in a transaction dated Tuesday, December 19th. The shares were bought at an average cost of $9.91 per share, for a total transaction of $39,640.00. Following the completion of the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $148,650. The disclosure for this purchase can be found here. In the last three months, insiders acquired 669,467 shares of company stock valued at $6,453,139. 5.20% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado increased its holdings in Platform Specialty Products 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. Global Endowment Management LP increased its holdings in Platform Specialty Products by 7.6% during the second quarter. Global Endowment Management LP now owns 41,300 shares of the specialty chemicals company’s stock valued at $524,000 after buying an additional 2,900 shares during the period. Teacher Retirement System of Texas increased its holdings in Platform Specialty Products 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. Alliancebernstein L.P. increased its holdings in Platform Specialty Products 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. Finally, California State Teachers Retirement System increased its holdings in Platform Specialty Products by 0.8% during the second quarter. California State Teachers Retirement System now owns 402,094 shares of the specialty chemicals company’s stock valued at $5,099,000 after buying an additional 3,312 shares during the period. 93.53% of the stock is currently owned by institutional investors.

Platform Specialty Products (NYSE PAH) opened at $10.29 on Friday. The stock has a market cap of $2,908.29, a P/E ratio of 13.88, a P/E/G ratio of 1.08 and a beta of 3.19. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.55 and a current ratio of 2.05. Platform Specialty Products has a 1-year low of $9.11 and a 1-year high of $14.82.

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

A number of brokerages have recently commented on PAH. ValuEngine lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Credit Suisse Group began coverage on shares of Platform Specialty Products in a research report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 target price on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $15.00 target price on shares of Platform Specialty Products in a research report on Friday, November 3rd. Barclays reduced their target price on shares of Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Finally, Zacks Investment Research lowered shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $13.50.

COPYRIGHT VIOLATION NOTICE: “Platform Specialty Products Target of Unusually Large Options Trading (PAH)” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.com-unik.info/2017/12/22/platform-specialty-products-target-of-unusually-large-options-trading-pah.html.

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.

Receive News & Ratings for Platform Specialty Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Platform Specialty Products and related companies with MarketBeat.com's FREE daily email newsletter.

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