RPM International (NYSE:RPM) Announces Quarterly Earnings Results

RPM International (NYSE:RPM) released its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.22, FiscalAI reports. RPM International had a net margin of 8.79% and a return on equity of 22.49%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.55 billion.

RPM International Stock Down 0.6%

Shares of RPM International stock opened at $96.70 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.45 and a current ratio of 2.22. RPM International has a 52-week low of $92.92 and a 52-week high of $129.12. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 2.38 and a beta of 1.10. The company’s 50 day moving average price is $106.93 and its 200-day moving average price is $108.32.

RPM International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a $0.54 dividend. The ex-dividend date is Thursday, April 16th. This represents a $2.16 annualized dividend and a dividend yield of 2.2%. RPM International’s dividend payout ratio (DPR) is currently 41.62%.

Wall Street Analysts Forecast Growth

RPM has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of RPM International from $119.00 to $108.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. JPMorgan Chase & Co. raised shares of RPM International from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $117.00 to $115.00 in a report on Friday, January 9th. Morgan Stanley reaffirmed a “buy” rating on shares of RPM International in a report on Thursday, January 8th. Citigroup lowered their price target on shares of RPM International from $136.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Finally, BMO Capital Markets lowered their price target on shares of RPM International from $152.00 to $149.00 and set an “outperform” rating on the stock in a report on Thursday, January 8th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.33.

Insider Activity

In other news, VP Timothy R. Kinser sold 3,441 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $110.31, for a total value of $379,576.71. Following the transaction, the vice president owned 21,248 shares in the company, valued at approximately $2,343,866.88. This trade represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of RPM International

Several institutional investors and hedge funds have recently bought and sold shares of RPM. Gamco Investors INC. ET AL purchased a new stake in RPM International in the second quarter worth about $402,000. Gabelli Funds LLC bought a new position in RPM International in the 2nd quarter worth about $1,534,000. California State Teachers Retirement System boosted its stake in RPM International by 21.7% in the 2nd quarter. California State Teachers Retirement System now owns 355,934 shares of the specialty chemicals company’s stock worth $39,096,000 after purchasing an additional 63,532 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in RPM International by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock worth $37,260,000 after purchasing an additional 888 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in RPM International by 5.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,031 shares of the specialty chemicals company’s stock worth $1,321,000 after purchasing an additional 594 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

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.