Key Points
- RPM International Director Frederick Nance sold 1,896 shares for $197,127.12, reducing his stake by 19.86%; he retained 7,651 shares.
- Quarterly earnings were $1.98 per share, topping the $1.95 analyst consensus, while revenue of $2.22 billion matched estimates and rose 4.8% year over year.
- RPM raised its quarterly dividend from $0.54 to $0.57 per share, equivalent to an annualized $2.28 dividend and a 2.2% yield.
RPM International Inc. (NYSE:RPM - Get Free Report) Director Frederick Nance sold 1,896 shares of RPM International stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $103.97, for a total value of $197,127.12. Following the completion of the transaction, the director owned 7,651 shares of the company's stock, valued at approximately $795,474.47. The trade was a 19.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
RPM International Stock Down 2.4%
Shares of RPM International stock opened at $103.22 on Friday. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.88 and a beta of 1.01. RPM International Inc. has a twelve month low of $92.92 and a twelve month high of $121.78. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. The business's 50 day simple moving average is $100.82 and its 200-day simple moving average is $105.20.
RPM International (NYSE:RPM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 6th. The specialty chemicals company reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.03. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.22 billion. RPM International had a return on equity of 22.03% and a net margin of 8.66%. The firm's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 EPS. Equities research analysts forecast that RPM International Inc. will post 5.92 earnings per share for the current year.
RPM International Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Tuesday, October 20th were paid a $0.57 dividend. The ex-dividend date was Tuesday, October 20th. This is a positive change from RPM International's previous quarterly dividend of $0.54. This represents a $2.28 dividend on an annualized basis and a yield of 2.2%. RPM International's dividend payout ratio (DPR) is 42.22%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in RPM International during the second quarter worth about $1,456,684,000. Corient Private Wealth LP bought a new stake in RPM International in the second quarter worth about $11,652,000. Bank of New York Mellon Corp acquired a new stake in RPM International in the 2nd quarter valued at about $118,220,000. Legal & General Group Plc acquired a new stake in RPM International in the 2nd quarter valued at about $37,713,000. Finally, Deutsche Bank AG acquired a new stake in RPM International in the 2nd quarter valued at about $25,999,000. Institutional investors own 80.95% of the company's stock.
Analysts Set New Price Targets
RPM has been the subject of several analyst reports. Royal Bank Of Canada boosted their price target on shares of RPM International from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen cut shares of RPM International from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of RPM International in a report on Thursday, October 22nd. Deutsche Bank cut their price objective on shares of RPM International from $126.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Finally, BMO Capital Markets boosted their target price on shares of RPM International from $143.00 to $151.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.85.
Get Our Latest Analysis on RPM International
About RPM International
(
Get Free Report)
RPM International Inc. manufactures and markets specialty coatings, sealants, building materials and related products for industrial, commercial and consumer markets. Its offerings include protective paints and coatings, roofing and waterproofing systems, flooring, construction sealants and adhesives, and maintenance products. The company sells products through a portfolio of well-known brands, including Rust-Oleum, DAP, Zinsser, Tremco, Carboline and Stonhard. Its products are used in applications ranging from home improvement and building construction to industrial and infrastructure maintenance.
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