Bank of New York Mellon Corp Sells 37,975 Shares of RPM International Inc. $RPM

Key Points

• Bank of New York Mellon trimmed its RPM International stake by 3.3% in Q1, selling 37,975 shares and ending with 1,111,189 shares valued at about $110.5 million.
• Wall Street sentiment remains generally positive: RPM has 11 Buy ratings and 4 Hold ratings, with a consensus Moderate Buy and an average price target of $127.
• RPM International stock was down 3.3% to $101.59 in Tuesday trading, while the company also declared a quarterly dividend of $0.54 per share, payable July 31.

Bank of New York Mellon Corp reduced its stake in shares of RPM International Inc. (NYSE:RPM - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,111,189 shares of the specialty chemicals company's stock after selling 37,975 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of RPM International worth $110,452,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC grew its stake 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 buying an additional 93 shares in the last quarter. LRI Investments LLC increased 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 buying an additional 108 shares during the period. First American Bank raised its position in shares of RPM International by 4.9% in the 4th quarter. First American Bank now owns 2,360 shares of the specialty chemicals company's stock valued at $245,000 after buying an additional 110 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its position in shares of 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 valued at $613,000 after buying an additional 114 shares in the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in shares of RPM International during the 4th quarter worth approximately $37,000. Institutional investors own 80.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen cut RPM International from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Citigroup boosted their price target on RPM International from $125.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, May 29th. BMO Capital Markets dropped their price objective on RPM International from $148.00 to $143.00 and set an "outperform" rating for the company in a research report on Monday, July 6th. Bank of America reduced their price objective on RPM International from $128.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Finally, Royal Bank Of Canada lifted their target price on RPM International from $126.00 to $130.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.00.

RPM International Trading Down 3.3%

Shares of RPM stock opened at $101.59 on Tuesday. The firm has a market capitalization of $12.97 billion, a P/E ratio of 19.57, a P/E/G ratio of 2.47 and a beta of 1.04. RPM International Inc. has a twelve month low of $92.92 and a twelve month high of $129.12. The company has a quick ratio of 1.44, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. The stock's fifty day simple moving average is $105.09 and its 200 day simple moving average is $106.27.

RPM International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, July 14th. RPM International's payout ratio is 41.62%.

About RPM International

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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