RPM International Inc. (RPM) Downgraded to “C+” at TheStreet
A number of other analysts have also recently commented on RPM. Royal Bank Of Canada reaffirmed a hold rating and issued a $49.00 price target on shares of RPM International in a research note on Tuesday, June 13th. BidaskClub cut RPM International from a buy rating to a hold rating in a research note on Saturday, June 24th. Bank of America Corporation lowered their price target on RPM International from $58.00 to $56.00 and set a neutral rating for the company in a research note on Tuesday, July 25th. Zacks Investment Research raised RPM International from a sell rating to a hold rating in a research note on Saturday, July 29th. Finally, Wellington Shields raised RPM International from a hold rating to an accumulate rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $57.00.
RPM International (NYSE RPM) traded up 0.17% on Wednesday, hitting $51.63. 1,711,338 shares of the stock traded hands. RPM International has a 12-month low of $46.25 and a 12-month high of $56.48. The company’s 50 day moving average price is $49.99 and its 200-day moving average price is $52.51. The stock has a market capitalization of $6.90 billion, a P/E ratio of 37.82 and a beta of 1.55.
RPM International (NYSE:RPM) last announced its quarterly earnings results on Wednesday, October 4th. The specialty chemicals company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. RPM International had a return on equity of 25.02% and a net margin of 3.67%. RPM International’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. Analysts predict that RPM International will post $2.87 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.48%. This is a boost from RPM International’s previous quarterly dividend of $0.30. RPM International’s dividend payout ratio is presently 90.91%.
In related news, SVP Edward W. Moore sold 10,568 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $52.04, for a total transaction of $549,958.72. Following the completion of the sale, the senior vice president now directly owns 92,549 shares of the company’s stock, valued at approximately $4,816,249.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its stake in RPM International by 0.4% during the 2nd quarter. State Street Corp now owns 6,557,057 shares of the specialty chemicals company’s stock worth $357,688,000 after purchasing an additional 23,088 shares in the last quarter. Bank of New York Mellon Corp increased its stake in RPM International by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,632,118 shares of the specialty chemicals company’s stock worth $89,031,000 after purchasing an additional 11,882 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in RPM International by 9.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,007,328 shares of the specialty chemicals company’s stock worth $54,950,000 after purchasing an additional 87,679 shares in the last quarter. Geode Capital Management LLC increased its stake in RPM International by 9.2% during the 1st quarter. Geode Capital Management LLC now owns 983,053 shares of the specialty chemicals company’s stock worth $54,097,000 after purchasing an additional 82,981 shares in the last quarter. Finally, GW&K Investment Management LLC increased its stake in RPM International by 17.6% during the 2nd quarter. GW&K Investment Management LLC now owns 887,994 shares of the specialty chemicals company’s stock worth $48,440,000 after purchasing an additional 133,104 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.
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, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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