Parkside Investments LLC Takes Position in Platform Specialty Products Corp (NYSE:PAH)

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.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and republished in violation of U.S. and international copyright and trademark law. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/16/parkside-investments-llc-takes-position-in-platform-specialty-products-corp-pah.html.

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.

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

Receive News & Ratings for Platform Specialty Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Platform Specialty Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply