GSA Capital Partners LLP Trims Position in Platform Specialty Products Corp (PAH)

GSA Capital Partners LLP trimmed its holdings in shares of Platform Specialty Products Corp (NYSE:PAH) by 76.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,599 shares of the specialty chemicals company’s stock after selling 71,748 shares during the period. GSA Capital Partners LLP’s holdings in Platform Specialty Products were worth $251,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its holdings in Platform Specialty Products by 2.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 227,261 shares of the specialty chemicals company’s stock worth $2,636,000 after buying an additional 4,850 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Platform Specialty Products by 33.1% during the second quarter. State of Alaska Department of Revenue now owns 26,400 shares of the specialty chemicals company’s stock worth $305,000 after buying an additional 6,570 shares in the last quarter. IndexIQ Advisors LLC boosted its holdings in Platform Specialty Products by 15.8% during the second quarter. IndexIQ Advisors LLC now owns 53,348 shares of the specialty chemicals company’s stock worth $619,000 after buying an additional 7,298 shares in the last quarter. Swiss National Bank boosted its holdings in Platform Specialty Products by 2.2% during the first quarter. Swiss National Bank now owns 399,289 shares of the specialty chemicals company’s stock worth $3,845,000 after buying an additional 8,600 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in Platform Specialty Products during the first quarter worth approximately $108,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.

In other news, insider Scot Benson acquired 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average price of $12.56 per share, with a total value of $75,360.00. Following the purchase, the insider now owns 85,456 shares of the company’s stock, valued at approximately $1,073,327.36. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John David Tolbert acquired 16,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was purchased at an average cost of $12.13 per share, with a total value of $194,080.00. The disclosure for this purchase can be found here. Insiders purchased a total of 10,281,137 shares of company stock valued at $124,380,356 in the last ninety days. Company insiders own 5.40% of the company’s stock.

Platform Specialty Products stock opened at $12.71 on Tuesday. Platform Specialty Products Corp has a 52 week low of $9.09 and a 52 week high of $13.54. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.11 and a quick ratio of 1.62. The company has a market capitalization of $3.69 billion, a P/E ratio of 16.72, a PEG ratio of 1.85 and a beta of 3.17.

Platform Specialty Products (NYSE:PAH) last posted its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Platform Specialty Products had a negative net margin of 4.08% and a positive return on equity of 9.15%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $997.27 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue was up 6.5% on a year-over-year basis. equities analysts forecast that Platform Specialty Products Corp will post 0.57 EPS for the current year.

A number of brokerages recently weighed in on PAH. ValuEngine cut shares of Platform Specialty Products from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Citigroup cut shares of Platform Specialty Products from a “buy” rating to a “neutral” rating and raised their target price for the stock from $13.00 to $14.00 in a report on Wednesday, September 19th. Goldman Sachs Group cut shares of Platform Specialty Products from a “buy” rating to a “neutral” rating in a report on Monday, July 23rd. Finally, Morgan Stanley set a $12.00 price objective on shares of Platform Specialty Products and gave the stock a “hold” rating in a research note on Thursday, June 7th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Platform Specialty Products currently has a consensus rating of “Hold” and a consensus target price of $13.33.

Platform Specialty Products Company Profile

Platform Specialty Products Corporation produces and sells specialty chemical products worldwide. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers.

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

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