RPM International Inc. (NYSE:RPM) declared a quarterly dividend on Wednesday, January 2nd, RTT News reports. Stockholders of record on Wednesday, January 16th will be paid a dividend of 0.35 per share by the specialty chemicals company on Thursday, January 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, January 15th.
RPM International has raised its dividend payment by an average of 7.5% annually over the last three years and has raised its dividend every year for the last 44 years. RPM International has a dividend payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Analysts expect RPM International to earn $3.60 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 38.9%.
Shares of NYSE:RPM opened at $55.28 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 1.25. RPM International has a twelve month low of $46.36 and a twelve month high of $68.13. The company has a market cap of $6.94 billion, a PE ratio of 18.93, a PEG ratio of 1.53 and a beta of 1.33.
In related news, Director John M. Ballbach purchased 3,360 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was acquired at an average cost of $59.53 per share, with a total value of $200,020.80. Following the transaction, the director now owns 13,260 shares of the company’s stock, valued at approximately $789,367.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.
A number of research firms recently commented on RPM. Zacks Investment Research raised RPM International from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. BMO Capital Markets set a $72.00 price target on RPM International and gave the company a “buy” rating in a research report on Friday, January 4th. ValuEngine lowered RPM International from a “buy” rating to a “hold” rating in a research report on Saturday, January 5th. Royal Bank of Canada reissued a “hold” rating and issued a $59.00 price target on shares of RPM International in a research report on Sunday. Finally, Seaport Global Securities reissued a “hold” rating and issued a $71.00 price target on shares of RPM International in a research report on Monday, December 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. RPM International presently has a consensus rating of “Hold” and an average price target of $65.25.
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About RPM International
RPM International Inc manufactures and sells specialty chemicals for the 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, and flooring and in-plant glazing solutions; solutions for fire stopping and intumescent steel coating, and the manufacturing industry; polymer flooring systems; and fiberglass reinforced plastic gratings and shapes.
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