Peregrine Capital Management LLC Acquires New Holdings in Platform Specialty Products Corp (PAH)

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Peregrine Capital Management LLC bought a new position in shares of Platform Specialty Products Corp (NYSE:PAH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,956,650 shares of the specialty chemicals company’s stock, valued at approximately $24,399,000. Peregrine Capital Management LLC owned about 0.68% of Platform Specialty Products as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. LPL Financial LLC bought a new position in shares of Platform Specialty Products during the first quarter worth about $108,000. NEXT Financial Group Inc bought a new position in Platform Specialty Products in the third quarter valued at approximately $115,000. InterOcean Capital LLC bought a new position in Platform Specialty Products in the second quarter valued at approximately $121,000. First National Bank of Omaha bought a new position in Platform Specialty Products in the second quarter valued at approximately $139,000. Finally, Brown Advisory Inc. bought a new position in Platform Specialty Products in the first quarter valued at approximately $155,000. Institutional investors own 95.33% of the company’s stock.

In other news, EVP John Edward Capps acquired 46,000 shares of Platform Specialty Products stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average price of $10.93 per share, for a total transaction of $502,780.00. Following the transaction, the executive vice president now directly owns 46,333 shares of the company’s stock, valued at approximately $506,419.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin E. Franklin acquired 549,000 shares of Platform Specialty Products stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average price of $10.97 per share, for a total transaction of $6,022,530.00. The disclosure for this purchase can be found here. Insiders have bought a total of 891,833 shares of company stock valued at $10,095,108 in the last three months. 5.40% of the stock is owned by insiders.

Several research analysts have recently commented on PAH shares. Citigroup set a $12.00 target price on Platform Specialty Products and gave the stock a “hold” rating in a research note on Monday, November 5th. Nomura reduced their target price on Platform Specialty Products from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, October 15th. Zacks Investment Research raised Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Finally, ValuEngine cut Platform Specialty Products from a “sell” rating to a “strong sell” rating in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.80.

NYSE PAH traded down $0.19 during midday trading on Friday, hitting $11.07. The company had a trading volume of 1,881,346 shares, compared to its average volume of 3,094,519. The stock has a market capitalization of $3.21 billion, a PE ratio of 14.57, a P/E/G ratio of 18.07 and a beta of 3.00. The company has a debt-to-equity ratio of 2.55, a current ratio of 2.19 and a quick ratio of 1.62. Platform Specialty Products Corp has a twelve month low of $9.09 and a twelve month high of $13.54.

Platform Specialty Products (NYSE:PAH) last announced its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Platform Specialty Products had a positive return on equity of 8.48% and a negative net margin of 14.14%. The firm had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $500.69 million. During the same period in the previous year, the firm earned $0.02 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Platform Specialty Products Corp will post 0.28 EPS for the current year.

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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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