Caisse DE Depot ET Placement DU Quebec Sells 55,051 Shares of RPM International Inc. $RPM

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in RPM International Inc. by 19.7%, now holding 224,519 shares valued at approximately $25.97 million.
• RPM International reported $1.72 EPS for the latest quarter, exceeding analysts' expectations, alongside a revenue of $2.08 billion, a 3.7% increase from the previous year.
• The company announced a quarterly dividend of $0.51 per share, representing an annualized yield of 1.6% with a payout ratio of 38.13%.

Caisse DE Depot ET Placement DU Quebec cut its position in shares of RPM International Inc. (NYSE:RPM - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 224,519 shares of the specialty chemicals company's stock after selling 55,051 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.17% of RPM International worth $25,972,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. GW&K Investment Management LLC increased its stake in RPM International by 0.3% in the first quarter. GW&K Investment Management LLC now owns 608,318 shares of the specialty chemicals company's stock valued at $70,370,000 after purchasing an additional 2,048 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of RPM International by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 338,370 shares of the specialty chemicals company's stock worth $39,143,000 after acquiring an additional 33,016 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of RPM International by 3.5% in the fourth quarter. California State Teachers Retirement System now owns 297,557 shares of the specialty chemicals company's stock worth $36,617,000 after acquiring an additional 10,185 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of RPM International by 12,321.2% in the first quarter. GAMMA Investing LLC now owns 271,154 shares of the specialty chemicals company's stock worth $31,367,000 after acquiring an additional 268,971 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in RPM International by 0.5% in the fourth quarter. Baird Financial Group Inc. now owns 261,835 shares of the specialty chemicals company's stock valued at $32,221,000 after buying an additional 1,416 shares during the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RPM shares. Bank of America raised RPM International from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $110.00 to $128.00 in a report on Thursday, August 14th. Mizuho increased their price objective on RPM International from $126.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. BMO Capital Markets increased their price target on RPM International from $140.00 to $152.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. UBS Group increased their price target on RPM International from $110.00 to $119.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Finally, Citigroup assumed coverage on RPM International in a research note on Monday, June 2nd. They set a "buy" rating and a $135.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $131.09.

RPM International Stock Performance

Shares of NYSE:RPM traded down $0.08 during midday trading on Friday, hitting $125.40. The company's stock had a trading volume of 634,553 shares, compared to its average volume of 655,761. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.86 and a beta of 1.03. The stock's 50 day simple moving average is $117.47 and its 200 day simple moving average is $114.67. RPM International Inc. has a fifty-two week low of $95.28 and a fifty-two week high of $141.79. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.45 and a current ratio of 2.16.

RPM International (NYSE:RPM - Get Free Report) last released its earnings results on Thursday, July 24th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.12. RPM International had a return on equity of 24.94% and a net margin of 9.34%.The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the business earned $1.56 earnings per share. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that RPM International Inc. will post 5.5 earnings per share for the current year.

RPM International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. RPM International's dividend payout ratio (DPR) is 38.13%.

Insiders Place Their Bets

In related news, Director Frederick R. Nance sold 1,000 shares of RPM International stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $119.36, for a total transaction of $119,360.00. Following the sale, the director directly owned 7,394 shares of the company's stock, valued at $882,547.84. This trade represents a 11.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

RPM International Profile

RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and traditional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance services; sealing and bonding, subfloor preparation, flooring, and glazing solutions; resin flooring systems, polyurethane, MMA waterproof, epoxy floor paint and coatings, concrete repair, and protection products; fire stopping and intumescent steel coating, and manufacturing industry solutions; rolled asphalt roofing materials and chemical admixtures; concrete and masonry admixtures, concrete fibers, curing and sealing compounds, structural grouts and mortars, epoxy adhesives, injection resins, polyurethane foams, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and restoration materials; insulated building cladding materials; and concrete form wall systems.