Platform Specialty Products Sees Unusually High Options Volume (PAH)
Platform Specialty Products Corporation (NYSE:PAH) was the recipient of unusually large options trading on Tuesday. Stock investors bought 3,517 call options on the company. This represents an increase of 1,013% compared to the average daily volume of 316 call options.
In other Platform Specialty Products news, Director Martin E. Franklin purchased 164,467 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was bought at an average price of $9.57 per share, with a total value of $1,573,949.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Diego Lopez Casanello purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was acquired at an average cost of $9.91 per share, with a total value of $39,640.00. Following the purchase, 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. Over the last 90 days, insiders have purchased 669,467 shares of company stock valued at $6,453,139. 5.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado lifted its holdings in shares of 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 purchasing an additional 779 shares during the last quarter. Global Endowment Management LP lifted its stake in Platform Specialty Products by 7.6% in the 2nd quarter. Global Endowment Management LP now owns 41,300 shares of the specialty chemicals company’s stock worth $524,000 after acquiring an additional 2,900 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Platform Specialty Products by 19.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,016 shares of the specialty chemicals company’s stock worth $228,000 after acquiring an additional 2,975 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Platform Specialty Products by 2.9% in the 2nd quarter. Alliancebernstein L.P. now owns 111,450 shares of the specialty chemicals company’s stock worth $1,413,000 after acquiring an additional 3,145 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Platform Specialty Products by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 402,094 shares of the specialty chemicals company’s stock worth $5,099,000 after acquiring an additional 3,312 shares in the last quarter. 93.53% of the stock is owned by institutional investors and hedge funds.
Platform Specialty Products (NYSE:PAH) last announced its earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Platform Specialty Products had a negative net margin of 4.12% and a positive return on equity of 7.45%. The company had revenue of $904.30 million for the quarter, compared to analysts’ expectations of $912.19 million. During the same period in the prior year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. analysts forecast that Platform Specialty Products will post 0.77 EPS for the current year.
Several research analysts have recently issued reports on PAH shares. Barclays decreased their price target on Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. Zacks Investment Research cut Platform Specialty Products from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. ValuEngine lowered Platform Specialty Products from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Credit Suisse Group began coverage on Platform Specialty Products in a report on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, SunTrust Banks upgraded Platform Specialty Products from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.00 to $15.00 in a report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $13.50.
TRADEMARK VIOLATION WARNING: “Platform Specialty Products Sees Unusually High Options Volume (PAH)” was first reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://theolympiareport.com/2017/12/24/platform-specialty-products-sees-unusually-high-options-volume-pah.html.
About Platform Specialty Products
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.