The Manufacturers Life Insurance Company acquired a new stake in RPM International Inc. (NYSE:RPM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 76,547 shares of the specialty chemicals company's stock, valued at approximately $8,508,000. The Manufacturers Life Insurance Company owned about 0.06% of RPM International at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of RPM International in the second quarter valued at $1,456,684,000. Bank of New York Mellon Corp purchased a new stake in RPM International in the 2nd quarter worth about $118,220,000. PFA Pension Forsikringsaktieselskab purchased a new stake in RPM International in the 4th quarter worth about $54,307,000. Deutsche Bank AG bought a new stake in RPM International in the 2nd quarter valued at about $25,999,000. Finally, Danske Bank A S purchased a new stake in RPM International during the second quarter valued at about $20,077,000. 80.95% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Citigroup raised their target price on RPM International from $125.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. Morgan Stanley cut their price objective on shares of RPM International from $121.00 to $117.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Wall Street Zen cut shares of RPM International from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. UBS Group upgraded shares of RPM International from a "neutral" rating to a "buy" rating and boosted their price target for the company from $118.00 to $130.00 in a research report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of RPM International in a research report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, RPM International currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.00.
Read Our Latest Stock Analysis on RPM
RPM International Stock Performance
NYSE RPM opened at $106.79 on Friday. RPM International Inc. has a 52-week low of $92.92 and a 52-week high of $128.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.68. The company has a market capitalization of $13.62 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.17 and a beta of 1.04. The company has a fifty day moving average of $109.11 and a 200-day moving average of $106.51.
RPM International (NYSE:RPM - Get Free Report) last released its earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.06. RPM International had a return on equity of 22.45% and a net margin of 8.41%.The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The firm's revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that RPM International Inc. will post 6 EPS for the current fiscal year.
RPM International Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, July 14th. RPM International's dividend payout ratio is presently 41.86%.
About RPM International
(
Free Report)
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.
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