Parkside Investments LLC bought a new stake in Platform Specialty Products Corp (NYSE:PAH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 130,500 shares of the specialty chemicals company’s stock, valued at approximately $1,295,000.
Several other large investors have also bought and sold shares of the business. California Public Employees Retirement System boosted its stake in Platform Specialty Products by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 459,400 shares of the specialty chemicals company’s stock valued at $4,557,000 after acquiring an additional 14,000 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Platform Specialty Products by 317.0% in the fourth quarter. Teacher Retirement System of Texas now owns 78,818 shares of the specialty chemicals company’s stock valued at $782,000 after acquiring an additional 59,918 shares in the last quarter. PenderFund Capital Management Ltd. acquired a new position in Platform Specialty Products in the fourth quarter valued at $7,987,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in Platform Specialty Products by 74.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 167,000 shares of the specialty chemicals company’s stock valued at $1,657,000 after acquiring an additional 71,200 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in Platform Specialty Products by 6.3% in the fourth quarter. Gabelli Funds LLC now owns 185,000 shares of the specialty chemicals company’s stock valued at $1,835,000 after acquiring an additional 11,000 shares in the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.
Several equities analysts have issued reports on the stock. SunTrust Banks restated a “buy” rating and issued a $15.00 price objective on shares of Platform Specialty Products in a research note on Friday, November 3rd. Credit Suisse Group initiated coverage on shares of Platform Specialty Products in a report on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 target price for the company. Zacks Investment Research raised shares of Platform Specialty Products from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Finally, ValuEngine cut shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Platform Specialty Products has an average rating of “Hold” and a consensus target price of $14.71.
In related news, Director Martin E. Franklin bought 500,000 shares of the stock in a transaction on Monday, December 18th. The shares were bought at an average cost of $9.66 per share, for a total transaction of $4,830,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin E. Franklin bought 164,467 shares of the stock in a transaction on Thursday, December 14th. The shares were bought at an average price of $9.57 per share, for a total transaction of $1,573,949.19. The disclosure for this purchase can be found here. Insiders have acquired 669,467 shares of company stock worth $6,453,139 over the last 90 days. 5.20% of the stock is currently owned by company insiders.
Shares of Platform Specialty Products Corp (NYSE PAH) traded up $0.09 on Friday, reaching $10.23. 1,315,349 shares of the company’s stock traded hands, compared to its average volume of 4,221,230. 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 Corp has a one year low of $9.11 and a one year high of $14.82. The firm has a market capitalization of $2,908.29, a price-to-earnings ratio of -19.30, a P/E/G ratio of 0.74 and a beta of 3.22.
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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.
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