RPM International (NYSE:RPM) Announces Quarterly Earnings Results

RPM International (NYSE:RPM) announced its quarterly earnings results on Wednesday. The specialty chemicals company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.83 by $0.06, FiscalAI reports. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. RPM International had a net margin of 8.63% and a return on equity of 22.55%.

RPM International Stock Performance

Shares of RPM opened at $101.71 on Wednesday. The company has a 50-day simple moving average of $105.14 and a two-hundred day simple moving average of $106.25. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.44. The firm has a market capitalization of $12.98 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 2.31 and a beta of 1.04. RPM International has a one year low of $92.92 and a one year high of $129.12.

RPM International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, July 14th. RPM International’s dividend payout ratio (DPR) is currently 41.62%.

Hedge Funds Weigh In On RPM International

A number of institutional investors and hedge funds have recently made changes to their positions in RPM. California State Teachers Retirement System increased its holdings in shares of RPM International by 14.5% during the fourth quarter. California State Teachers Retirement System now owns 394,860 shares of the specialty chemicals company’s stock valued at $41,065,000 after acquiring an additional 49,979 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of RPM International by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock worth $37,260,000 after purchasing an additional 888 shares during the last quarter. Danske Bank A S bought a new position in RPM International in the 3rd quarter worth about $17,362,000. Janney Montgomery Scott LLC boosted its stake in RPM International by 29.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 123,342 shares of the specialty chemicals company’s stock worth $12,828,000 after purchasing an additional 27,925 shares in the last quarter. Finally, One Capital Management LLC grew its position in RPM International by 3.2% during the 3rd quarter. One Capital Management LLC now owns 119,666 shares of the specialty chemicals company’s stock valued at $14,106,000 after purchasing an additional 3,752 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Analysts Set New Price Targets

RPM has been the topic of a number of research reports. Zacks Research upgraded RPM International from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. UBS Group raised RPM International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $118.00 to $130.00 in a report on Wednesday, May 27th. Morgan Stanley upped their target price on RPM International from $118.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Weiss Ratings cut shares of RPM International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada lifted their price target on shares of RPM International from $126.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, RPM International presently has an average rating of “Moderate Buy” and an average target price of $127.00.

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.