Stock Traders Buy Large Volume of Platform Specialty Products Call Options (PAH)

Share on StockTwits

Platform Specialty Products Corp (NYSE:PAH) saw some unusual options trading on Tuesday. Stock traders bought 10,037 call options on the company. This represents an increase of approximately 1,631% compared to the typical volume of 580 call options.

In related news, EVP John Edward Capps acquired 20,833 shares of the stock in a transaction on Wednesday, August 15th. The stock was acquired at an average price of $12.05 per share, for a total transaction of $251,037.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scot Benson acquired 6,000 shares of the stock in a transaction on Thursday, August 23rd. The shares were bought at an average price of $12.56 per share, with a total value of $75,360.00. Following the purchase, the insider now directly owns 85,456 shares of the company’s stock, valued at approximately $1,073,327.36. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 10,281,137 shares of company stock valued at $124,380,356. 5.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of PAH. Slate Path Capital LP purchased a new stake in Platform Specialty Products during the first quarter valued at approximately $50,798,000. FMR LLC grew its stake in shares of Platform Specialty Products by 17.2% during the second quarter. FMR LLC now owns 30,966,786 shares of the specialty chemicals company’s stock valued at $359,215,000 after buying an additional 4,533,865 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Platform Specialty Products during the second quarter valued at approximately $45,154,000. Dimensional Fund Advisors LP grew its stake in shares of Platform Specialty Products by 32.5% during the first quarter. Dimensional Fund Advisors LP now owns 12,500,369 shares of the specialty chemicals company’s stock valued at $120,378,000 after buying an additional 3,063,275 shares during the last quarter. Finally, MUFG Securities EMEA plc grew its stake in shares of Platform Specialty Products by 227.7% during the second quarter. MUFG Securities EMEA plc now owns 3,015,000 shares of the specialty chemicals company’s stock valued at $34,974,000 after buying an additional 2,095,000 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

A number of brokerages have issued reports on PAH. Zacks Investment Research upgraded Platform Specialty Products from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. ValuEngine cut Platform Specialty Products from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Citigroup lowered Platform Specialty Products from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $13.00 to $14.00 in a report on Wednesday. Finally, Goldman Sachs Group lowered Platform Specialty Products from a “buy” rating to a “neutral” rating in a report on Monday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $13.33.

NYSE:PAH opened at $12.66 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.62 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $3.70 billion, a P/E ratio of 16.66, a PEG ratio of 1.86 and a beta of 3.17. Platform Specialty Products has a 12 month low of $9.09 and a 12 month high of $13.54.

Platform Specialty Products (NYSE:PAH) last posted its earnings results on Thursday, August 2nd. The specialty chemicals company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $997.27 million. Platform Specialty Products had a positive return on equity of 9.15% and a negative net margin of 4.08%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 earnings per share. equities research analysts anticipate that Platform Specialty Products will post 0.57 EPS for the current year.

Platform Specialty Products Company Profile

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.

Featured Article: How Do You Calculate Return on Investment (ROI)?

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