Legal & General Group Plc Takes $37.71 Million Position in RPM International Inc. $RPM

Legal & General Group Plc purchased a new position in RPM International Inc. (NYSE:RPM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 339,296 shares of the specialty chemicals company’s stock, valued at approximately $37,713,000. Legal & General Group Plc owned approximately 0.27% of RPM International as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Segall Bryant & Hamill LLC bought a new stake in RPM International during the first quarter valued at $6,963,000. Horizon Investments LLC purchased a new stake in RPM International in the fourth quarter worth approximately $1,373,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of RPM International during the 4th quarter valued at $54,307,000. Plato Investment Management Ltd bought a new position in shares of RPM International during the second quarter valued at about $3,410,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in RPM International in the 2nd quarter worth approximately $1,653,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

RPM has been the subject of several analyst reports. UBS Group raised shares of RPM International from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $130.00 in a research report on Wednesday, May 27th. Citigroup boosted their price target on RPM International from $125.00 to $128.00 and gave the company a “buy” rating in a report on Friday, May 29th. Wall Street Zen cut RPM International from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings restated a “hold (c)” rating on shares of RPM International in a report on Friday, July 24th. Finally, Royal Bank Of Canada lifted their price target on shares of RPM International from $126.00 to $128.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $126.00.

RPM International Stock Up 1.0%

Shares of RPM International stock opened at $106.79 on Friday. RPM International Inc. has a 1 year low of $92.92 and a 1 year high of $128.51. The firm has a market cap of $13.62 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.16 and a beta of 1.04. The company has a 50-day moving average of $109.11 and a 200 day moving average of $106.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 1.16.

RPM International (NYSE:RPM) last announced its quarterly earnings data on Wednesday, July 22nd. The specialty chemicals company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. RPM International had a net margin of 8.41% and a return on equity of 22.45%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that RPM International Inc. will post 6 earnings per share for the current fiscal year.

RPM International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, July 14th. RPM International’s payout ratio is 41.86%.

About RPM International

RPM International Inc is a global holding company whose subsidiaries specialize in the manufacture and marketing of high-performance coatings, sealants, building materials, and specialty chemicals. Through its two principal operating segments—Performance Coatings and Industrial Coatings—RPM serves a diverse range of end markets, including construction, consumer products, industrial maintenance, and specialty applications.

The company’s Performance Coatings segment offers a broad portfolio of architectural coatings, waterproofing systems, and specialty building products used by contractors, builders, and homeowners.