Acadian Asset Management LLC boosted its position in Platform Specialty Products Corporation (NYSE:PAH) by 4,190.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,434 shares of the specialty chemicals company’s stock after buying an additional 18,981 shares during the period. Acadian Asset Management LLC’s holdings in Platform Specialty Products Corporation were worth $246,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Platform Specialty Products Corporation by 93.2% in the first quarter. FMR LLC now owns 19,571,817 shares of the specialty chemicals company’s stock worth $254,825,000 after buying an additional 9,441,984 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Platform Specialty Products Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 15,370,964 shares of the specialty chemicals company’s stock worth $200,131,000 after buying an additional 683,166 shares during the last quarter. BlackRock Inc. raised its stake in shares of Platform Specialty Products Corporation by 20,109.1% in the first quarter. BlackRock Inc. now owns 10,392,944 shares of the specialty chemicals company’s stock worth $135,317,000 after buying an additional 10,341,517 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Platform Specialty Products Corporation by 77.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,797,174 shares of the specialty chemicals company’s stock worth $62,459,000 after buying an additional 2,093,211 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Platform Specialty Products Corporation by 36.0% in the first quarter. Russell Investments Group Ltd. now owns 3,460,751 shares of the specialty chemicals company’s stock worth $45,067,000 after buying an additional 915,360 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.
Shares of Platform Specialty Products Corporation (NYSE:PAH) traded down 0.87% during trading on Wednesday, reaching $12.49. The company’s stock had a trading volume of 1,321,401 shares. The firm’s market cap is $3.58 billion. The company’s 50 day moving average price is $13.20 and its 200 day moving average price is $13.05. Platform Specialty Products Corporation has a 12 month low of $6.85 and a 12 month high of $14.82.
Platform Specialty Products Corporation (NYSE:PAH) last released its earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $941.10 million during the quarter, compared to analysts’ expectations of $933.32 million. Platform Specialty Products Corporation had a positive return on equity of 7.15% and a negative net margin of 0.26%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. On average, equities analysts predict that Platform Specialty Products Corporation will post $0.79 earnings per share for the current year.
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PAH has been the subject of a number of research reports. Zacks Investment Research upgraded Platform Specialty Products Corporation from a “sell” rating to a “hold” rating in a research report on Saturday. UBS AG reiterated a “buy” rating and issued a $17.00 price objective (up from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday, August 10th. Instinet lowered their price objective on Platform Specialty Products Corporation to $14.00 and set a “buy” rating for the company in a research report on Tuesday, June 13th. BidaskClub lowered Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Nomura reiterated a “buy” rating and issued a $16.00 price objective on shares of Platform Specialty Products Corporation in a research report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Platform Specialty Products Corporation has a consensus rating of “Buy” and an average target price of $13.10.
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