Platform Specialty Products Corp (PAH) Director Acquires $6,022,530.00 in Stock
Platform Specialty Products Corp (NYSE:PAH) Director Martin E. Franklin acquired 549,000 shares of the stock in a transaction dated Tuesday, November 6th. The shares were bought at an average price of $10.97 per share, with a total value of $6,022,530.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Platform Specialty Products stock traded up $0.13 during trading on Thursday, hitting $11.28. 146,222 shares of the company’s stock were exchanged, compared to its average volume of 3,195,872. 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 52-week low of $9.09 and a 52-week high of $13.54. The stock has a market cap of $3.17 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 14.20 and a beta of 3.00.
Platform Specialty Products (NYSE:PAH) last issued its earnings results on Thursday, November 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Platform Specialty Products had a negative net margin of 14.14% and a positive return on equity of 8.48%. The firm had revenue of $488.50 million during the quarter, compared to analysts’ expectations of $500.69 million. During the same quarter last year, the company posted $0.02 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts expect that Platform Specialty Products Corp will post 0.35 EPS for the current year.
Several research firms have recently commented on PAH. ValuEngine downgraded shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Goldman Sachs Group downgraded shares of Platform Specialty Products from a “buy” rating to a “neutral” rating in a research note on Monday, July 23rd. Zacks Investment Research upgraded shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Citigroup downgraded shares of Platform Specialty Products from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $13.00 to $14.00 in a research note on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.80.
About Platform Specialty Products
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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