RPM International Inc. (NYSE:RPM) – Research analysts at Gabelli cut their FY2018 EPS estimates for RPM International in a note issued to investors on Friday. Gabelli analyst R. Morbelli now anticipates that the brokerage will earn $3.10 per share for the year, down from their prior forecast of $3.15. Gabelli also issued estimates for RPM International’s FY2019 earnings at $3.45 EPS.
RPM International (NYSE:RPM) last announced its earnings results on Wednesday, October 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $1.25 billion for the quarter. RPM International had a net margin of 7.62% and a return on equity of 27.52%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share.
A number of other analysts have also recently issued reports on the company. Wells Fargo & Co. reiterated a “buy” rating on shares of RPM International in a report on Wednesday, October 5th. Zacks Investment Research cut RPM International from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Seaport Global Securities cut RPM International from an “accumulate” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $57.00 in a report on Wednesday, August 10th. JPMorgan Chase & Co. restated a “hold” rating on shares of RPM International in a report on Monday, July 18th. Finally, Wellington Shields cut RPM International from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. RPM International currently has a consensus rating of “Hold” and a consensus price target of $54.67.
Shares of RPM International (NYSE:RPM) traded down 0.10% during trading on Monday, hitting $48.28. 670,489 shares of the stock were exchanged. RPM International has a one year low of $36.78 and a one year high of $55.92. The stock has a market cap of $6.44 billion, a PE ratio of 17.71 and a beta of 1.38. The stock’s 50 day moving average price is $52.89 and its 200 day moving average price is $51.41.
Institutional investors have recently made changes to their positions in the stock. GW&K Investment Management LLC raised its position in shares of RPM International by 9.1% in the second quarter. GW&K Investment Management LLC now owns 1,002,994 shares of the company’s stock worth $50,100,000 after buying an additional 83,582 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 during the last quarter. Eaton Vance Management acquired a new position in shares of RPM International during the second quarter worth about $21,042,000. Roffman Miller Associates Inc. PA raised its position in shares of RPM International by 1.8% in the second quarter. Roffman Miller Associates Inc. PA now owns 383,211 shares of the company’s stock worth $19,141,000 after buying an additional 6,603 shares during the last quarter. Finally, Martingale Asset Management L P raised its position in shares of RPM International by 3,425.2% in the second quarter. Martingale Asset Management L P now owns 366,656 shares of the company’s stock worth $18,315,000 after buying an additional 356,255 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.
In other RPM International news, Chairman Frank C. Sullivan sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $53.56, for a total value of $3,213,600.00. Following the transaction, the chairman now directly owns 1,144,622 shares of the company’s stock, valued at approximately $61,305,954.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Matthew T. Ratajczak sold 4,152 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $54.04, for a total value of $224,374.08. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from RPM International’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, October 13th. RPM International’s dividend payout ratio is presently 40.44%.
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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