LS Investment Advisors LLC Has $418,000 Position in RPM International Inc. (RPM)
LS Investment Advisors LLC raised its stake in shares of RPM International Inc. (NYSE:RPM) by 80.5% during the second quarter, Holdings Channel reports. The fund owned 8,378 shares of the company’s stock after buying an additional 3,737 shares during the period. LS Investment Advisors LLC’s holdings in RPM International were worth $418,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. BB&T Securities LLC purchased a new stake in RPM International during the first quarter worth $1,322,000. Geode Capital Management LLC raised its stake in RPM International by 3.5% in the first quarter. Geode Capital Management LLC now owns 801,545 shares of the company’s stock worth $37,937,000 after buying an additional 26,989 shares in the last quarter. Norges Bank purchased a new stake in RPM International during the fourth quarter worth $45,391,000. Nuveen Asset Management LLC raised its stake in RPM International by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 82,859 shares of the company’s stock worth $3,922,000 after buying an additional 28,522 shares in the last quarter. Finally, Carnick & Kubik LLC raised its stake in RPM International by 0.7% in the first quarter. Carnick & Kubik LLC now owns 6,872 shares of the company’s stock worth $325,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.
RPM International Inc. (NYSE:RPM) traded down 0.25% during trading on Friday, reaching $51.68. 574,138 shares of the company were exchanged. The stock has a market capitalization of $6.88 billion, a P/E ratio of 19.62 and a beta of 1.39. The company’s 50-day moving average price is $54.11 and its 200-day moving average price is $50.29. RPM International Inc. has a 1-year low of $36.78 and a 1-year high of $55.92.
RPM International (NYSE:RPM) last posted its earnings results on Thursday, July 28th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. RPM International had a net margin of 7.37% and a return on equity of 28.11%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.94 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts forecast that RPM International Inc. will post $2.77 EPS for the current year.
RPM has been the subject of a number of analyst reports. Morgan Stanley reiterated a “buy” rating on shares of RPM International in a report on Thursday, June 16th. Zacks Investment Research upgraded shares of RPM International from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Tuesday, August 2nd. JPMorgan Chase & Co. reiterated a “hold” rating on shares of RPM International in a report on Monday, July 18th. Wellington Shields lowered shares of RPM International from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Seaport Global Securities lowered shares of RPM International from an “accumulate” rating to a “neutral” rating and increased their target price for the stock from $55.00 to $57.00 in a report on Wednesday, August 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $53.25.
In other news, VP Barry Slifstein sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $54.27, for a total value of $54,270.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Frank C. Sullivan sold 60,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.56, for a total transaction of $3,213,600.00. Following the completion of the sale, the chairman now owns 1,144,622 shares in the company, valued at $61,305,954.32. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
About RPM International
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives. The Company operates through two segments, which include industrial segment and consumer segment.
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