Zacks Investment Research upgraded shares of RPM International (NYSE:RPM) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $61.00 price target on the specialty chemicals company’s stock.
According to Zacks, “RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments. The three segments of RPM are Consumer, Industrial, and Specialty segments. RPM’s Industrial Products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. Industrial companies include Stonhard, Tremco, Nullifire, Carboline, Flowcrete, Euclid Chemical, RPM Belgium and Vandex. RPM’s Consumer Products are used by professionals for home maintenance and improvement. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane, Touch ‘n Foam, and Testors. RPM’s Specialty Products include industrial cleaners, colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include Day-Glo, Chemspec, Dryvit, Mantrose-Haeuser, Legend Brands, Guardian, Kop-Coat and TCI. “
Several other equities research analysts also recently weighed in on RPM. TheStreet downgraded shares of RPM International from a b rating to a c+ rating in a report on Wednesday, October 4th. Royal Bank of Canada reaffirmed a hold rating and issued a $51.00 price objective on shares of RPM International in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. RPM International currently has a consensus rating of Hold and an average target price of $57.86.
RPM International (NYSE:RPM) last announced its quarterly earnings results on Thursday, January 4th. The specialty chemicals company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.11. RPM International had a net margin of 6.80% and a return on equity of 25.05%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. equities analysts expect that RPM International will post 2.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.39%. The ex-dividend date is Tuesday, January 16th. RPM International’s payout ratio is currently 50.59%.
In other RPM International news, SVP Edward W. Moore sold 2,578 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $53.79, for a total value of $138,670.62. Following the sale, the senior vice president now directly owns 98,417 shares in the company, valued at $5,293,850.43. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ronald A. Rice sold 44,839 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $51.83, for a total transaction of $2,324,005.37. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of RPM. Los Angeles Capital Management & Equity Research Inc. raised its position in RPM International by 0.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,995 shares of the specialty chemicals company’s stock worth $1,854,000 after acquiring an additional 200 shares in the last quarter. Eaton Vance Management acquired a new stake in RPM International during the 2nd quarter worth about $758,000. Riverhead Capital Management LLC raised its holdings in RPM International by 52.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,623 shares of the specialty chemicals company’s stock worth $416,000 after buying an additional 2,623 shares during the period. Ameriprise Financial Inc. raised its holdings in RPM International by 3.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 403,387 shares of the specialty chemicals company’s stock worth $22,005,000 after buying an additional 12,737 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in RPM International during the 2nd quarter worth about $526,000. Hedge funds and other institutional investors own 75.44% of the company’s stock.
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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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