Seaport Global Securities restated their buy rating on shares of RPM International (NYSE:RPM) in a report issued on Friday morning. The firm currently has a $58.00 target price on the specialty chemicals company’s stock.
Several other brokerages also recently weighed in on RPM. Zacks Investment Research upgraded RPM International from a hold rating to a buy rating and set a $61.00 price target on the stock in a report on Tuesday, January 9th. JPMorgan Chase downgraded RPM International from a neutral rating to an underweight rating and reduced their price objective for the stock from $52.00 to $47.00 in a report on Friday, March 16th. Vertical Research upgraded RPM International from a hold rating to a buy rating in a report on Wednesday, February 14th. Gabelli restated a buy rating on shares of RPM International in a report on Wednesday, March 28th. Finally, BMO Capital Markets began coverage on RPM International in a report on Tuesday, March 27th. They set an outperform rating and a $60.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $55.14.
Shares of NYSE RPM opened at $47.10 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33. RPM International has a fifty-two week low of $46.36 and a fifty-two week high of $56.69. The company has a market capitalization of $6,295.67, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Tuesday, April 17th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, April 16th. This represents a $1.28 annualized dividend and a yield of 2.72%. RPM International’s dividend payout ratio (DPR) is presently 51.82%.
In other RPM International news, SVP Edward W. Moore sold 2,578 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $53.79, for a total transaction of $138,670.62. Following the sale, the senior vice president now owns 98,417 shares of the company’s stock, valued at approximately $5,293,850.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Frank C. Sullivan sold 35,000 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $52.38, for a total value of $1,833,300.00. Following the sale, the chairman now directly owns 1,188,489 shares in the company, valued at approximately $62,253,053.82. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its position in RPM International by 8.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 36,731 shares of the specialty chemicals company’s stock valued at $1,886,000 after acquiring an additional 2,899 shares in the last quarter. Amalgamated Bank boosted its position in RPM International by 5.6% during the 4th quarter. Amalgamated Bank now owns 27,530 shares of the specialty chemicals company’s stock valued at $1,443,000 after acquiring an additional 1,463 shares in the last quarter. California Public Employees Retirement System boosted its position in RPM International by 6.5% during the 3rd quarter. California Public Employees Retirement System now owns 280,842 shares of the specialty chemicals company’s stock valued at $14,418,000 after acquiring an additional 17,242 shares in the last quarter. First Manhattan Co. boosted its position in RPM International by 4.9% during the 4th quarter. First Manhattan Co. now owns 100,817 shares of the specialty chemicals company’s stock valued at $5,284,000 after acquiring an additional 4,665 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of RPM International in the 4th quarter worth $657,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.
RPM International Company Profile
RPM International Inc manufactures, markets, and sells specialty chemical products for industrial, specialty, and consumer markets worldwide. Its Industrial segment offers waterproofing, coatings, and institutional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance and related services; sealing and bonding solutions; flooring and in-plant glazing solutions; passive fire protection and manufacturing industry solutions; polymer flooring systems; and fiberglass reinforced plastic gratings and shapes.
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