Virginia Retirement Systems ET AL Sells 9,700 Shares of Platform Specialty Products Co. (PAH)

Virginia Retirement Systems ET AL reduced its holdings in Platform Specialty Products Co. (NYSE:PAH) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,300 shares of the specialty chemicals company’s stock after selling 9,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Platform Specialty Products were worth $1,197,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Platform Specialty Products by 69.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,365 shares of the specialty chemicals company’s stock worth $113,000 after buying an additional 4,662 shares in the last quarter. Kazazian Asset Management LLC purchased a new stake in Platform Specialty Products during the fourth quarter worth $130,000. Investors Research Corp purchased a new stake in Platform Specialty Products during the fourth quarter worth $134,000. SeaCrest Wealth Management LLC purchased a new stake in Platform Specialty Products during the fourth quarter worth $145,000. Finally, Suntrust Banks Inc. purchased a new stake in Platform Specialty Products during the fourth quarter worth $191,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Platform Specialty Products opened at $11.02 on Wednesday, according to MarketBeat.com. The company has a current ratio of 2.07, a quick ratio of 1.57 and a debt-to-equity ratio of 1.85. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 0.79 and a beta of 3.14. Platform Specialty Products Co. has a 52-week low of $10.90 and a 52-week high of $11.06.

Platform Specialty Products (NYSE:PAH) last posted its quarterly earnings data on Thursday, May 3rd. The specialty chemicals company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $964.10 million for the quarter, compared to the consensus estimate of $906.10 million. Platform Specialty Products had a negative net margin of 6.05% and a positive return on equity of 8.25%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. research analysts anticipate that Platform Specialty Products Co. will post 0.98 earnings per share for the current fiscal year.

PAH has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Platform Specialty Products from a “buy” rating to a “hold” rating in a report on Friday, March 30th. ValuEngine downgraded shares of Platform Specialty Products from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Platform Specialty Products currently has an average rating of “Hold” and a consensus price target of $13.83.

About Platform Specialty Products

Platform Specialty Products Corporation produces and sells specialty chemical products worldwide. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers a range of specialty chemicals, such as surface and coating materials, functional conversion coatings, electronic assembly materials, water-based hydraulic control fluids, and photopolymers.

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

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