Piedmont Investment Advisors LLC Sells 21,385 Shares of Platform Specialty Products Corporation (PAH)

Piedmont Investment Advisors LLC lowered its stake in Platform Specialty Products Corporation (NYSE:PAH) by 30.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,207 shares of the specialty chemicals company’s stock after selling 21,385 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Platform Specialty Products were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Platform Specialty Products by 12.7% in the second quarter. FMR LLC now owns 22,055,440 shares of the specialty chemicals company’s stock worth $279,663,000 after buying an additional 2,483,623 shares during the period. Vanguard Group Inc. raised its stake in shares of Platform Specialty Products by 4.6% in the second quarter. Vanguard Group Inc. now owns 16,082,464 shares of the specialty chemicals company’s stock worth $203,926,000 after buying an additional 711,500 shares during the period. Glenview Capital Management LLC raised its stake in shares of Platform Specialty Products by 17.9% in the second quarter. Glenview Capital Management LLC now owns 13,203,633 shares of the specialty chemicals company’s stock worth $167,422,000 after buying an additional 2,000,000 shares during the period. Capital World Investors raised its stake in shares of Platform Specialty Products by 13.1% in the second quarter. Capital World Investors now owns 12,080,829 shares of the specialty chemicals company’s stock worth $153,185,000 after buying an additional 1,398,319 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Platform Specialty Products by 19.1% in the third quarter. Dimensional Fund Advisors LP now owns 6,558,502 shares of the specialty chemicals company’s stock worth $73,127,000 after buying an additional 1,052,378 shares during the period. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

PAH has been the topic of several recent research reports. SunTrust Banks raised Platform Specialty Products from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $15.00 in a research note on Monday, September 18th. Zacks Investment Research cut Platform Specialty Products from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Barclays cut their target price on Platform Specialty Products from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Credit Suisse Group began coverage on Platform Specialty Products in a research report on Wednesday, November 15th. They set a “neutral” rating and a $12.00 target price for the company. Finally, ValuEngine cut Platform Specialty Products from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $13.50.

Platform Specialty Products Corporation (NYSE:PAH) traded up $0.11 during trading hours on Friday, hitting $9.62. The company had a trading volume of 3,889,550 shares, compared to its average volume of 3,096,084. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.05 and a quick ratio of 1.55. Platform Specialty Products Corporation has a 12-month low of $9.11 and a 12-month high of $14.82. The stock has a market capitalization of $2,761.87, a PE ratio of 13.18, a P/E/G ratio of 1.02 and a beta of 3.19.

Platform Specialty Products (NYSE:PAH) last released its earnings results on Thursday, November 2nd. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $904.30 million for the quarter, compared to analysts’ expectations of $912.19 million. Platform Specialty Products had a positive return on equity of 7.45% and a negative net margin of 4.12%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. research analysts predict that Platform Specialty Products Corporation will post 0.77 EPS for the current year.

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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.

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

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