American International Group Inc. reduced its position in RPM International Inc. (NYSE:RPM) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,728 shares of the specialty chemicals company’s stock after selling 7,926 shares during the period. American International Group Inc.’s holdings in RPM International were worth $15,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in shares of RPM International in the 4th quarter worth $10,768,000. BTIM Corp. boosted its stake in shares of RPM International by 3.6% in the 1st quarter. BTIM Corp. now owns 334,869 shares of the specialty chemicals company’s stock worth $19,436,000 after buying an additional 11,784 shares during the last quarter. Norges Bank purchased a new position in shares of RPM International in the 4th quarter worth $63,851,000. Arizona State Retirement System boosted its stake in shares of RPM International by 0.5% in the 4th quarter. Arizona State Retirement System now owns 95,257 shares of the specialty chemicals company’s stock worth $5,599,000 after buying an additional 507 shares during the last quarter. Finally, Bremer Trust National Association purchased a new position in shares of RPM International in the 4th quarter worth $176,000. Hedge funds and other institutional investors own 77.45% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine downgraded RPM International from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research downgraded RPM International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Gabelli restated a “buy” rating on shares of RPM International in a research note on Monday, April 8th. TheStreet downgraded RPM International from a “b-” rating to a “c” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. upgraded RPM International from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $50.00 to $55.00 in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. RPM International currently has a consensus rating of “Hold” and an average price target of $66.57.
RPM International (NYSE:RPM) last announced its earnings results on Thursday, April 4th. The specialty chemicals company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. RPM International had a return on equity of 21.39% and a net margin of 3.96%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.30 EPS. RPM International’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts forecast that RPM International Inc. will post 2.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were issued a $0.35 dividend. The ex-dividend date was Monday, April 15th. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. RPM International’s dividend payout ratio is currently 47.95%.
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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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