RPM International (NYSE:RPM) Reaches New 12-Month High – Here’s Why

RPM International Inc. (NYSE:RPM) hit a new 52-week high during trading on Friday . The stock traded as high as $138.26 and last traded at $137.87, with a volume of 439871 shares trading hands. The stock had previously closed at $136.31.

Analyst Ratings Changes

RPM has been the subject of several analyst reports. Mizuho reduced their target price on RPM International from $136.00 to $134.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Morgan Stanley upped their target price on RPM International from $107.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. Royal Bank of Canada upped their target price on RPM International from $120.00 to $126.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on RPM International from $120.00 to $126.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on RPM International from $132.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, RPM International currently has a consensus rating of “Hold” and an average price target of $129.70.

RPM International Stock Performance

The company has a current ratio of 2.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.77. The firm has a 50-day simple moving average of $129.46 and a two-hundred day simple moving average of $118.62. The company has a market capitalization of $17.74 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99.

RPM International (NYSE:RPM) last issued its earnings results on Wednesday, October 2nd. The specialty chemicals company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.09. RPM International had a return on equity of 26.82% and a net margin of 8.43%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm posted $1.64 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that RPM International Inc. will post 5.56 earnings per share for the current fiscal year.

RPM International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 18th were given a $0.51 dividend. This is a positive change from RPM International’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, October 18th. RPM International’s dividend payout ratio is presently 42.77%.

Insider Activity

In related news, Director Frederick R. Nance sold 594 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $135.47, for a total transaction of $80,469.18. Following the completion of the sale, the director now owns 8,526 shares in the company, valued at $1,155,017.22. This represents a 6.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael J. Laroche sold 3,615 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $127.14, for a total value of $459,611.10. Following the sale, the chief accounting officer now owns 11,596 shares of the company’s stock, valued at approximately $1,474,315.44. The trade was a 23.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,083 shares of company stock valued at $1,443,549. Insiders own 1.60% of the company’s stock.

Institutional Trading of RPM International

A number of hedge funds have recently modified their holdings of RPM. Geode Capital Management LLC lifted its position in shares of RPM International by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,656,684 shares of the specialty chemicals company’s stock worth $320,851,000 after buying an additional 145,070 shares during the period. Pacer Advisors Inc. lifted its position in shares of RPM International by 9,945.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,949,479 shares of the specialty chemicals company’s stock worth $209,920,000 after buying an additional 1,930,072 shares during the period. Bank of New York Mellon Corp increased its holdings in RPM International by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,475,784 shares of the specialty chemicals company’s stock valued at $158,912,000 after purchasing an additional 61,218 shares in the last quarter. Boston Trust Walden Corp increased its holdings in RPM International by 2.7% during the 2nd quarter. Boston Trust Walden Corp now owns 499,301 shares of the specialty chemicals company’s stock valued at $53,765,000 after purchasing an additional 13,010 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in RPM International by 5.3% during the 1st quarter. California State Teachers Retirement System now owns 252,046 shares of the specialty chemicals company’s stock valued at $29,981,000 after purchasing an additional 12,791 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

RPM International Company Profile

RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and traditional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance services; sealing and bonding, subfloor preparation, flooring, and glazing solutions; resin flooring systems, polyurethane, MMA waterproof, epoxy floor paint and coatings, concrete repair, and protection products; fire stopping and intumescent steel coating, and manufacturing industry solutions; rolled asphalt roofing materials and chemical admixtures; concrete and masonry admixtures, concrete fibers, curing and sealing compounds, structural grouts and mortars, epoxy adhesives, injection resins, polyurethane foams, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and restoration materials; insulated building cladding materials; and concrete form wall systems.