Is Perimeter Solutions, SA (PRM) an Attractive Investment?

Tourlite Capital Management, an investment management company, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Tourlite Fund Founder Class returned 3.4% compared to a 7.6% return for the S&P 500 Index. Since its inception in April 2022, the fund returned 5.0% compared to a -14.2% decline for the S&P 500 Index. The fundamental long/short portfolio of the fund performed well in 2022. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Tourlite Capital Management highlighted stocks like Perimeter Solutions, SA (NYSE:PRM) in the Q4 2022 investor letter. Headquartered in Clayton, Missouri, Perimeter Solutions, SA (NYSE:PRM) is a firefighting products and lubricant additives manufacturer and supplier. On January 23, 2023, Perimeter Solutions, SA (NYSE:PRM) stock closed at $9.37 per share. One-month return of Perimeter Solutions, SA (NYSE:PRM) was 6.36%, and its shares lost 25.28% of their value over the last 52 weeks. Perimeter Solutions, SA (NYSE:PRM) has a market capitalization of $1.474 billion.

Tourlite Capital Management made the following comment about Perimeter Solutions, SA (NYSE:PRM) in its Q4 2022 investor letter:

“Perimeter Solutions, SA (NYSE:PRM) is the sole qualified provider of aerial fire retardant for many applications. This mission critical product represents a small portion of its customers’ spend, and revenue is recurring in nature as long-term secular tailwinds (growth in number and size of fires) support growth. Perimeter is led by what we consider to be an experienced, best-in-class, capital allocation focused management team.

Perimeter checks our boxes for an investment. It is a market leader in a growing market, strong cash flow generation and return on capital, talented management team, trading at an attractive valuation…” (Click here to read the full text)

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Perimeter Solutions, SA (NYSE:PRM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Perimeter Solutions, SA (NYSE:PRM) at the end of the third quarter which was 21 in the previous quarter.

We discussed Perimeter Solutions, SA (NYSE:PRM) in another article and shared Tourlite Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.