Zacks Investment Research upgraded shares of RPM International Inc. (NYSE:RPM) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “RPM Incorporated manufactures and markets specialty paints, protective coatings and roofing systems, sealants and adhesives, for use in both industrial and consumer applications. RPM markets its products in numerous countries and operates manufacturing facilities in the United States, Argentina, Belgium, Brazil, Canada, China, Colombia, Germany, Italy, Malaysia, Mexico, New Zealand, The Netherlands, Poland, South Africa, the United Arab Emirates and the United Kingdom. “
Other research analysts also recently issued reports about the stock. BidaskClub upgraded shares of RPM International from a hold rating to a buy rating in a research report on Tuesday, July 11th. Wellington Shields upgraded shares of RPM International from a hold rating to an accumulate rating in a research report on Friday, August 18th. Bank of America Corporation lowered their price objective on shares of RPM International from $58.00 to $56.00 and set a neutral rating for the company in a research report on Tuesday, July 25th. Royal Bank Of Canada restated a hold rating and set a $49.00 price objective on shares of RPM International in a research report on Tuesday, June 13th. Finally, TheStreet downgraded shares of RPM International from a b rating to a c+ rating in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $57.00.
RPM International (NYSE:RPM) last announced its quarterly earnings data on Wednesday, October 4th. The specialty chemicals company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. RPM International had a net margin of 3.67% and a return on equity of 24.73%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be paid a $0.32 dividend. This is a boost from RPM International’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, October 13th. This represents a $1.28 annualized dividend and a dividend yield of 2.47%. RPM International’s payout ratio is currently 88.89%.
In other RPM International news, SVP Edward W. Moore sold 10,568 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $52.04, for a total transaction of $549,958.72. Following the sale, the senior vice president now owns 92,549 shares of the company’s stock, valued at $4,816,249.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of RPM. State Street Corp boosted its position in RPM International by 4.1% during the first quarter. State Street Corp now owns 6,533,969 shares of the specialty chemicals company’s stock valued at $359,572,000 after acquiring an additional 257,980 shares during the last quarter. North Point Portfolio Managers Corp OH bought a new stake in RPM International during the second quarter valued at $10,821,000. BTIM Corp. bought a new stake in RPM International during the second quarter valued at $8,197,000. Cramer Rosenthal Mcglynn LLC boosted its position in RPM International by 28.9% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 667,874 shares of the specialty chemicals company’s stock valued at $36,433,000 after acquiring an additional 149,861 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in RPM International by 17.6% during the second quarter. GW&K Investment Management LLC now owns 887,994 shares of the specialty chemicals company’s stock valued at $48,440,000 after acquiring an additional 133,104 shares during the last quarter. 73.49% of the stock is currently 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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