Platform Specialty Products Corp (PAH) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Platform Specialty Products Corp (NYSE:PAH) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 425,747 shares of the specialty chemicals company’s stock after selling 36,996 shares during the quarter. California Public Employees Retirement System’s holdings in Platform Specialty Products were worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in PAH. FMR LLC grew its stake in Platform Specialty Products by 17.2% during the 2nd quarter. FMR LLC now owns 30,966,786 shares of the specialty chemicals company’s stock worth $359,215,000 after buying an additional 4,533,865 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in Platform Specialty Products during the 2nd quarter worth $45,154,000. Dimensional Fund Advisors LP grew its stake in Platform Specialty Products by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,899,218 shares of the specialty chemicals company’s stock worth $172,827,000 after buying an additional 2,398,849 shares during the last quarter. MUFG Securities EMEA plc grew its stake in Platform Specialty Products by 227.7% during the 2nd quarter. MUFG Securities EMEA plc now owns 3,015,000 shares of the specialty chemicals company’s stock worth $34,974,000 after buying an additional 2,095,000 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Platform Specialty Products during the 2nd quarter worth $19,345,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.

Platform Specialty Products stock opened at $11.23 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.62 and a debt-to-equity ratio of 2.07. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.81 and a beta of 3.18. Platform Specialty Products Corp has a fifty-two week low of $9.09 and a fifty-two week high of $13.54.

Platform Specialty Products (NYSE:PAH) last posted its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.27 million. Platform Specialty Products had a positive return on equity of 9.15% and a negative net margin of 4.08%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 EPS. On average, research analysts forecast that Platform Specialty Products Corp will post 0.57 earnings per share for the current year.

PAH has been the topic of several research analyst reports. ValuEngine downgraded Platform Specialty Products from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded Platform Specialty Products from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday, July 3rd. Goldman Sachs Group downgraded Platform Specialty Products from a “buy” rating to a “neutral” rating in a research note on Monday, July 23rd. Finally, Citigroup downgraded Platform Specialty Products from a “buy” rating to a “neutral” rating and boosted their price target for the company from $13.00 to $14.00 in a research note on Wednesday, September 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $13.50.

In other news, Director Pershing Square Capital Manage purchased 9,968,304 shares of the company’s stock in a transaction on Monday, August 6th. The shares were acquired at an average price of $12.10 per share, for a total transaction of $120,616,478.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scot Benson purchased 6,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were purchased at an average price of $12.56 per share, for a total transaction of $75,360.00. Following the purchase, the insider now owns 85,456 shares in the company, valued at approximately $1,073,327.36. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 10,281,137 shares of company stock worth $124,380,356. Company insiders own 5.40% of the company’s stock.

Platform Specialty Products 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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