FNY Partners Fund LP Boosts Stake in Platform Specialty Products Corporation (PAH)

FNY Partners Fund LP lifted its position in shares of Platform Specialty Products Corporation (NYSE:PAH) by 468.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,800 shares of the specialty chemicals company’s stock after purchasing an additional 46,800 shares during the period. FNY Partners Fund LP’s holdings in Platform Specialty Products were worth $633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in Platform Specialty Products by 12.7% in the second quarter. FMR LLC now owns 22,055,440 shares of the specialty chemicals company’s stock valued at $279,663,000 after acquiring an additional 2,483,623 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Platform Specialty Products during the second quarter valued at $31,220,000. Glenview Capital Management LLC increased its stake in Platform Specialty Products by 17.9% during the second quarter. Glenview Capital Management LLC now owns 13,203,633 shares of the specialty chemicals company’s stock valued at $167,422,000 after purchasing an additional 2,000,000 shares during the last quarter. AXA bought a new stake in Platform Specialty Products during the second quarter valued at $22,303,000. Finally, Capital World Investors increased its stake in Platform Specialty Products by 13.1% during the second quarter. Capital World Investors now owns 12,080,829 shares of the specialty chemicals company’s stock valued at $153,185,000 after purchasing an additional 1,398,319 shares during the last quarter. 93.54% of the stock is currently owned by institutional investors and hedge funds.

Platform Specialty Products Corporation (NYSE PAH) traded up $0.04 during trading hours on Wednesday, reaching $9.60. The company had a trading volume of 1,945,400 shares, compared to its average volume of 2,375,924. Platform Specialty Products Corporation has a 12-month low of $9.11 and a 12-month high of $14.82. The firm has a market capitalization of $2,744.65, a P/E ratio of 13.10, a P/E/G ratio of 1.02 and a beta of 3.19. The company has a quick ratio of 1.55, a current ratio of 2.05 and a debt-to-equity ratio of 1.77.

Platform Specialty Products (NYSE:PAH) last released its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. The firm had revenue of $904.30 million during the quarter, compared to analyst estimates of $912.19 million. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. equities analysts predict that Platform Specialty Products Corporation will post 0.77 earnings per share for the current year.

Several research firms have recently commented on PAH. ValuEngine lowered shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Credit Suisse Group began coverage on shares of Platform Specialty Products in a research report on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 target price for the company. SunTrust Banks reissued a “buy” rating and issued a $15.00 price target on shares of Platform Specialty Products in a report on Friday, November 3rd. Barclays cut their price target on shares of Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Finally, Zacks Investment Research lowered shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $13.50.

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Platform Specialty Products Profile

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.

Institutional Ownership by Quarter for Platform Specialty Products (NYSE:PAH)

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