Capital Fund Management S.A. raised its position in shares of Platform Specialty Products Corp (NYSE:PAH) by 89.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 910,103 shares of the specialty chemicals company’s stock after purchasing an additional 428,600 shares during the quarter. Capital Fund Management S.A. owned 0.32% of Platform Specialty Products worth $9,028,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. AMP Capital Investors Ltd purchased a new stake in Platform Specialty Products during the 3rd quarter valued at about $444,000. First Manhattan Co. grew its stake in Platform Specialty Products by 19,786.1% during the 4th quarter. First Manhattan Co. now owns 1,988,610 shares of the specialty chemicals company’s stock valued at $19,727,000 after purchasing an additional 1,978,610 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Platform Specialty Products by 4,422.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 688,198 shares of the specialty chemicals company’s stock valued at $7,653,000 after purchasing an additional 672,981 shares during the last quarter. Magnetar Financial LLC grew its stake in Platform Specialty Products by 226.8% during the 3rd quarter. Magnetar Financial LLC now owns 99,329 shares of the specialty chemicals company’s stock valued at $1,108,000 after purchasing an additional 68,930 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Platform Specialty Products by 30.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,594,646 shares of the specialty chemicals company’s stock valued at $28,927,000 after purchasing an additional 605,664 shares during the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.
In related news, insider Diego Lopez Casanello bought 4,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were purchased at an average price of $9.91 per share, for a total transaction of $39,640.00. Following the completion of the purchase, the insider now directly owns 15,000 shares of the company’s stock, valued at $148,650. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Martin E. Franklin bought 500,000 shares of the stock in a transaction dated Monday, December 18th. The stock was bought at an average price of $9.66 per share, for a total transaction of $4,830,000.00. The disclosure for this purchase can be found here. Insiders bought 669,467 shares of company stock worth $6,453,139 in the last 90 days. Company insiders own 5.20% of the company’s stock.
Shares of Platform Specialty Products Corp (NYSE:PAH) opened at $10.14 on Friday. Platform Specialty Products Corp has a one year low of $9.11 and a one year high of $14.82. The company has a quick ratio of 1.55, a current ratio of 2.05 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $2,908.29, a PE ratio of 13.88, a PEG ratio of 0.74 and a beta of 3.22.
Several analysts have weighed in on PAH shares. ValuEngine downgraded Platform Specialty Products from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Platform Specialty Products from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Credit Suisse Group assumed coverage on Platform Specialty Products in a research note on Wednesday, November 15th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, SunTrust Banks restated a “buy” rating and issued a $15.00 target price on shares of Platform Specialty Products in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.71.
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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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