Sen. Markwayne Mullin Buys Primo Brands Co. (NYSE:PRMB) Stock

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Primo Brands Co. (NYSE:PRMB). In a filing disclosed on January 31st, the Senator disclosed that they had bought between $15,001 and $50,000 in Primo Brands stock on January 2nd.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of iShares Core MSCI EAFE ETF (BATS:IEFA) on 1/8/2025.
• Sold $15,001 – $50,000 in shares of iShares MSCI Eurozone ETF (BATS:EZU) on 1/8/2025.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 1/8/2025.
• Purchased $15,001 – $50,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Iron Mountain (NYSE:IRM) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Coherent (NYSE:COHR) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Westinghouse Air Brake Technologies (NYSE:WAB) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Dell Technologies (NYSE:DELL) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Applied Industrial Technologies (NYSE:AIT) on 1/2/2025.

Primo Brands Stock Down 2.1 %

Primo Brands stock opened at $32.51 on Friday. Primo Brands Co. has a 52-week low of $14.10 and a 52-week high of $33.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09. The firm’s 50-day moving average price is $31.05.

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.11%. Primo Brands’s dividend payout ratio (DPR) is presently 27.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PRMB shares. TD Securities increased their price objective on Primo Brands from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada increased their price target on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. BMO Capital Markets began coverage on shares of Primo Brands in a research note on Monday, January 6th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Primo Brands in a research report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price for the company.

Hedge Funds Weigh In On Primo Brands

Several hedge funds have recently modified their holdings of the company. Rise Advisors LLC bought a new position in Primo Brands during the fourth quarter valued at about $28,000. Blue Trust Inc. bought a new position in shares of Primo Brands during the 4th quarter valued at about $33,000. R Squared Ltd acquired a new position in shares of Primo Brands in the 4th quarter worth approximately $42,000. Nisa Investment Advisors LLC bought a new stake in shares of Primo Brands in the 4th quarter worth approximately $176,000. Finally, Entropy Technologies LP acquired a new stake in Primo Brands during the fourth quarter valued at approximately $236,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

Primo Brands Company Profile

Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo’s revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through major retailers and online at various price points or leased to customers.