RPM International (NYSE:RPM) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

RPM International Inc. (NYSE:RPM) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $100.96 and traded as high as $102.53. RPM International shares last traded at $102.0880, with a volume of 1,159,431 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RPM. Citigroup dropped their price target on shares of RPM International from $128.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Wells Fargo & Company decreased their price objective on shares of RPM International from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Barclays initiated coverage on shares of RPM International in a research report on Tuesday, October 13th. They set an “equal weight” rating and a $107.00 price objective for the company. Wall Street Zen lowered RPM International from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, KeyCorp decreased their price target on RPM International from $123.00 to $117.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.71.

RPM International Stock Performance

The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.81 and a beta of 1.05. 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 has a 50 day simple moving average of $100.79 and a two-hundred day simple moving average of $105.41.

RPM International (NYSE:RPM) last released its quarterly earnings data on Tuesday, October 6th. The specialty chemicals company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.03. RPM International had a net margin of 8.66% and a return on equity of 22.03%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. RPM International’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, analysts anticipate that RPM International Inc. will post 5.93 earnings per share for the current year.

RPM International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Tuesday, October 20th were paid a $0.57 dividend. This is an increase from RPM International’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, October 20th. This represents a $2.28 annualized dividend and a dividend yield of 2.2%. RPM International’s dividend payout ratio (DPR) is 42.22%.

Hedge Funds Weigh In On RPM International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of RPM International in the second quarter valued at approximately $1,456,684,000. Corient Private Wealth LP bought a new stake in RPM International during the second quarter worth approximately $11,652,000. Bank of New York Mellon Corp acquired a new stake in RPM International in the second quarter worth approximately $118,220,000. Legal & General Group Plc acquired a new stake in RPM International in the second quarter worth approximately $37,713,000. Finally, Deutsche Bank AG acquired a new stake in RPM International in the second quarter worth approximately $25,999,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

RPM International Company Profile

RPM International Inc is a multinational manufacturer of specialty coatings, sealants, building materials and related products. The company serves industrial, construction, commercial and consumer markets through a portfolio of businesses that develop products designed to protect, repair, maintain and enhance buildings, infrastructure, equipment and other surfaces.

RPM’s products include architectural and industrial coatings, waterproofing systems, roofing materials, flooring systems, caulks, adhesives, sealants and repair products.