Sumitomo Mitsui Trust Holdings Inc. lowered its position in RPM International Inc. (NYSE:RPM) by 23.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 586,131 shares of the specialty chemicals company’s stock after selling 184,305 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.45% of RPM International worth $43,786,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in RPM International by 479.1% in the fourth quarter. Quadrant Capital Group LLC now owns 637 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 527 shares during the last quarter. Column Capital Advisors LLC increased its holdings in RPM International by 37.1% in the first quarter. Column Capital Advisors LLC now owns 1,141 shares of the specialty chemicals company’s stock worth $68,000 after buying an additional 309 shares during the last quarter. WASHINGTON TRUST Co acquired a new position in RPM International in the first quarter worth approximately $79,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in RPM International during the first quarter worth approximately $83,000. Finally, Arden Trust Co bought a new stake in RPM International during the first quarter worth approximately $93,000. Hedge funds and other institutional investors own 76.55% of the company’s stock.
A number of brokerages have issued reports on RPM. Northcoast Research reaffirmed a “neutral” rating on shares of RPM International in a research report on Monday, July 27th. Zacks Investment Research cut RPM International from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a research report on Wednesday. Wells Fargo & Co upped their target price on RPM International from $84.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. UBS Group upped their target price on RPM International from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, BMO Capital Markets upped their target price on RPM International from $80.00 to $101.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $86.38.
In related news, SVP Edward W. Moore sold 6,618 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $81.11, for a total value of $536,785.98. Following the completion of the transaction, the senior vice president now directly owns 62,186 shares of the company’s stock, valued at $5,043,906.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.
RPM opened at $81.59 on Friday. RPM International Inc. has a 1-year low of $42.85 and a 1-year high of $86.48. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 1.46 and a beta of 1.14. The business has a 50 day moving average of $76.12 and a 200-day moving average of $70.21.
RPM International (NYSE:RPM) last posted its quarterly earnings data on Monday, July 27th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.12. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.40 billion. RPM International had a return on equity of 29.73% and a net margin of 5.53%. RPM International’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. Equities analysts predict that RPM International Inc. will post 3.68 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 16th were given a $0.36 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $1.44 annualized dividend and a yield of 1.76%. RPM International’s dividend payout ratio (DPR) is currently 46.91%.
RPM International Company Profile
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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