Bank of New York Mellon Corp Makes New Investment in RPM International Inc. $RPM

Key Points

• Bank of New York Mellon acquired 1.06 million RPM International shares valued at approximately $118.2 million, representing about 0.83% of the company. Institutional investors and hedge funds collectively own 80.95% of RPM’s stock.
• RPM International exceeded quarterly expectations, reporting adjusted EPS of $1.89 versus the $1.83 consensus estimate and revenue of $2.23 billion, up 7.2% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $126, compared with a recent price of $108.78. The company also pays a quarterly dividend of $0.54, yielding about 2.0% annually.

Bank of New York Mellon Corp bought a new position in shares of RPM International Inc. (NYSE:RPM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,063,612 shares of the specialty chemicals company's stock, valued at approximately $118,220,000. Bank of New York Mellon Corp owned approximately 0.83% of RPM International as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC boosted its position in RPM International by 5.8% during the second quarter. Lazard Asset Management LLC now owns 1,685 shares of the specialty chemicals company's stock worth $184,000 after acquiring an additional 93 shares during the last quarter. LRI Investments LLC raised its holdings in RPM International by 6.6% in the 4th quarter. LRI Investments LLC now owns 1,752 shares of the specialty chemicals company's stock valued at $182,000 after acquiring an additional 108 shares during the last quarter. Beese Fulmer Investment Management Inc. lifted its stake in RPM International by 2.0% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 5,894 shares of the specialty chemicals company's stock worth $613,000 after purchasing an additional 114 shares in the last quarter. Versant Capital Management Inc lifted its stake in RPM International by 36.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,050 shares of the specialty chemicals company's stock worth $117,000 after purchasing an additional 278 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in shares of RPM International during the 4th quarter worth approximately $37,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

RPM International Price Performance

RPM stock opened at $108.78 on Monday. The business has a fifty day moving average of $109.29 and a two-hundred day moving average of $106.74. The company has a quick ratio of 1.16, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.04. RPM International Inc. has a 52-week low of $92.92 and a 52-week high of $129.12.

RPM International (NYSE:RPM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.18 billion. During the same quarter in the prior year, the company posted $1.72 EPS. The company's quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that RPM International Inc. will post 6 earnings per share for the current year.

RPM International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, July 14th. RPM International's payout ratio is 41.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada upped their price target on RPM International from $126.00 to $128.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Morgan Stanley lowered their price objective on RPM International from $121.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 23rd. Wall Street Zen cut RPM International from a "buy" rating to a "hold" rating in a report on Saturday. Bank of America raised their target price on RPM International from $129.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, BMO Capital Markets boosted their price target on shares of RPM International from $143.00 to $151.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, RPM International presently has an average rating of "Moderate Buy" and an average target price of $126.00.

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.

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