Platform Specialty Products Corporation (NYSE:PAH) Stake Lowered by Balyasny Asset Management LLC

Balyasny Asset Management LLC trimmed its position in Platform Specialty Products Corporation (NYSE:PAH) by 39.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,650 shares of the specialty chemicals company’s stock after selling 20,635 shares during the period. Balyasny Asset Management LLC’s holdings in Platform Specialty Products Corporation were worth $401,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in Platform Specialty Products Corporation by 20,109.1% during the first quarter. BlackRock Inc. now owns 10,392,944 shares of the specialty chemicals company’s stock worth $135,317,000 after acquiring an additional 10,341,517 shares in the last quarter. FMR LLC raised its holdings in Platform Specialty Products Corporation by 12.7% during the second quarter. FMR LLC now owns 22,055,440 shares of the specialty chemicals company’s stock worth $279,663,000 after acquiring an additional 2,483,623 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Platform Specialty Products Corporation by 77.4% during 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 acquiring an additional 2,093,211 shares in the last quarter. AXA bought a new stake in Platform Specialty Products Corporation during the second quarter worth about $22,303,000. Finally, ING Groep NV bought a new stake in Platform Specialty Products Corporation during the second quarter worth about $14,582,000. Institutional investors own 93.96% of the company’s stock.

In related news, CEO Rakesh Sachdev acquired 11,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $11.06 per share, with a total value of $121,660.00. Following the acquisition, the chief executive officer now owns 11,000 shares of the company’s stock, valued at approximately $121,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken purchased 45,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $10.98 per share, with a total value of $494,100.00. The disclosure for this purchase can be found here. Insiders have bought a total of 60,500 shares of company stock valued at $664,865 over the last ninety days. 6.00% of the stock is currently owned by insiders.

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Platform Specialty Products Corporation (NYSE:PAH) traded down 1.56% during midday trading on Friday, reaching $10.73. The company’s stock had a trading volume of 1,424,589 shares. Platform Specialty Products Corporation has a 12 month low of $7.15 and a 12 month high of $14.82. The stock has a 50-day moving average price of $11.36 and a 200 day moving average price of $12.54. The company’s market cap is $3.08 billion.

Platform Specialty Products Corporation (NYSE:PAH) last released its quarterly earnings results on Wednesday, August 9th. The specialty chemicals company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $941.10 million during the quarter, compared to analyst estimates of $933.32 million. Platform Specialty Products Corporation had a negative net margin of 0.26% and a positive return on equity of 7.15%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. Analysts expect that Platform Specialty Products Corporation will post $0.79 earnings per share for the current fiscal year.

Several research firms recently issued reports on PAH. BidaskClub lowered Platform Specialty Products Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research raised Platform Specialty Products Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. UBS AG reissued a “buy” rating and set a $17.00 price target (up previously from $16.00) on shares of Platform Specialty Products Corporation in a research report on Thursday, August 10th. Barclays PLC lowered their price target on Platform Specialty Products Corporation from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Finally, SunTrust Banks, Inc. raised Platform Specialty Products Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $13.50.

About Platform Specialty Products Corporation

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 Corporation (NYSE:PAH)

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