RPM International Inc. (NYSE:RPM) Declares Dividend Increase – $0.57 Per Share

RPM International Inc. (NYSE:RPM) announced a quarterly dividend on Thursday, October 8th. Shareholders of record on Tuesday, October 20th will be paid a dividend of $0.57 per share by the specialty chemicals company on Friday, October 30th. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, October 20th. This is a 5.6% increase from RPM International’s previous quarterly dividend of $0.54.

RPM International has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 51 years. RPM International has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RPM International to earn $6.61 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 32.7%.

RPM International Trading Up 1.1%

NYSE:RPM opened at $99.40 on Friday. The stock has a market cap of $12.68 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.02 and a beta of 1.05. RPM International has a fifty-two week low of $92.92 and a fifty-two week high of $121.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.76 and a quick ratio of 1.16. The stock’s 50-day moving average is $105.13 and its two-hundred day moving average is $104.65.

RPM International (NYSE:RPM) last posted its quarterly earnings results on Tuesday, October 6th. The specialty chemicals company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.03. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.22 billion. RPM International had a net margin of 8.66% and a return on equity of 22.03%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share. As a group, equities research analysts forecast that RPM International will post 5.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RPM has been the topic of several research reports. KeyCorp initiated coverage on shares of RPM International in a research note on Friday, September 11th. They issued an “overweight” rating and a $123.00 price objective on the stock. Morgan Stanley decreased their target price on shares of RPM International from $117.00 to $114.00 and set an “equal weight” rating for the company in a research note on Monday, September 28th. Royal Bank Of Canada lowered their price target on shares of RPM International from $128.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday. Bank of America upped their price target on shares of RPM International from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, BMO Capital Markets increased their price objective on RPM International from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.31.

About RPM International

RPM International Inc is a multinational manufacturer of specialty coatings, sealants, building materials and related products. The company serves the construction, industrial, automotive, marine and consumer markets through a portfolio of businesses that develop products for protecting, repairing, maintaining and enhancing surfaces and structures.

Its brands and businesses include Rust-Oleum consumer and industrial coatings, DAP caulks and sealants, Tremco and Euclid Chemical construction products, Carboline protective coatings, Stonhard seamless flooring systems and Flowcrete flooring products.