Zacks Investment Research upgraded shares of RPM International (NYSE:RPM) from a hold rating to a buy rating in a report published on Tuesday, January 9th. The brokerage currently has $61.00 target price on the specialty chemicals company’s stock.
According to Zacks, “RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments. The three segments of RPM are Consumer, Industrial, and Specialty segments. RPM’s Industrial Products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. Industrial companies include Stonhard, Tremco, Nullifire, Carboline, Flowcrete, Euclid Chemical, RPM Belgium and Vandex. RPM’s Consumer Products are used by professionals for home maintenance and improvement. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane, Touch ‘n Foam, and Testors. RPM’s Specialty Products include industrial cleaners, colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include Day-Glo, Chemspec, Dryvit, Mantrose-Haeuser, Legend Brands, Guardian, Kop-Coat and TCI. “
Several other brokerages have also recently issued reports on RPM. Royal Bank of Canada restated a hold rating and issued a $51.00 target price on shares of RPM International in a report on Wednesday, November 15th. TheStreet lowered RPM International from a b rating to a c+ rating in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. RPM International currently has a consensus rating of Hold and an average target price of $57.86.
RPM International (NYSE:RPM) last announced its earnings results on Thursday, January 4th. The specialty chemicals company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. RPM International had a net margin of 6.80% and a return on equity of 25.05%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $0.52 earnings per share. RPM International’s quarterly revenue was up 10.5% on a year-over-year basis. equities research analysts expect that RPM International will post 3 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, January 16th. RPM International’s dividend payout ratio is presently 50.59%.
In other news, SVP Edward W. Moore sold 2,578 shares of RPM International stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $53.79, for a total value of $138,670.62. Following the completion of the transaction, the senior vice president now owns 98,417 shares of the company’s stock, valued at approximately $5,293,850.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of RPM International by 0.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,995 shares of the specialty chemicals company’s stock valued at $1,854,000 after purchasing an additional 200 shares during the period. Eaton Vance Management bought a new stake in shares of RPM International during the 2nd quarter valued at about $758,000. Riverhead Capital Management LLC grew its stake in shares of RPM International by 52.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,623 shares of the specialty chemicals company’s stock valued at $416,000 after purchasing an additional 2,623 shares during the period. Ameriprise Financial Inc. grew its stake in shares of RPM International by 3.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 403,387 shares of the specialty chemicals company’s stock valued at $22,005,000 after acquiring an additional 12,737 shares during the period. Finally, Captrust Financial Advisors bought a new position in shares of RPM International during the 2nd quarter valued at approximately $526,000. Institutional investors own 75.25% of the company’s stock.
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RPM International Company Profile
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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