Meiji Yasuda Asset Management Co Ltd. Purchases Shares of 47,581 RPM International Inc. $RPM

Meiji Yasuda Asset Management Co Ltd. purchased a new position in RPM International Inc. (NYSE:RPM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 47,581 shares of the specialty chemicals company’s stock, valued at approximately $5,289,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in RPM International during the 2nd quarter valued at $1,456,684,000. Bank of New York Mellon Corp purchased a new stake in RPM International during the 2nd quarter valued at $118,220,000. PFA Pension Forsikringsaktieselskab bought a new stake in RPM International in the 4th quarter worth $54,307,000. Deutsche Bank AG bought a new stake in RPM International in the 2nd quarter worth $25,999,000. Finally, Danske Bank A S purchased a new position in shares of RPM International in the second quarter valued at about $20,077,000. Institutional investors own 80.95% of the company’s stock.

RPM International Price Performance

Shares of NYSE RPM opened at $108.78 on Monday. The firm has a market cap of $13.90 billion, a P/E ratio of 21.08, a PEG ratio of 2.22 and a beta of 1.04. RPM International Inc. has a twelve month low of $92.92 and a twelve month high of $129.12. The company has a quick ratio of 1.16, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $109.29 and a 200 day moving average of $106.74.

RPM International (NYSE:RPM) last released its quarterly earnings data on Wednesday, July 22nd. The specialty chemicals company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.83 by $0.06. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. RPM International had a return on equity of 22.45% and a net margin of 8.41%.RPM International’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.72 EPS. As a group, research analysts expect that RPM International Inc. will post 6 EPS for the current fiscal year.

RPM International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, July 14th. RPM International’s dividend payout ratio is currently 41.86%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RPM. Royal Bank Of Canada upped their target price on RPM International from $126.00 to $128.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Morgan Stanley cut their price target on shares of RPM International from $121.00 to $117.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. UBS Group raised shares of RPM International from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $118.00 to $130.00 in a research report on Wednesday, May 27th. Wall Street Zen lowered shares of RPM International from a “buy” rating to a “hold” rating in a report on Saturday. Finally, BMO Capital Markets raised their target price on shares of RPM International from $143.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, RPM International presently has a consensus rating of “Moderate Buy” and an average price target of $126.00.

RPM International Company Profile

RPM International Inc is a global holding company whose subsidiaries specialize in the manufacture and marketing of high-performance coatings, sealants, building materials, and specialty chemicals. Through its two principal operating segments—Performance Coatings and Industrial Coatings—RPM serves a diverse range of end markets, including construction, consumer products, industrial maintenance, and specialty applications.

The company’s Performance Coatings segment offers a broad portfolio of architectural coatings, waterproofing systems, and specialty building products used by contractors, builders, and homeowners.