California State Teachers Retirement System Has $4.36 Billion Stock Holdings in RPM International Inc. $RPM

Key Points

• California State Teachers Retirement System increased its RPM International stake by 9,897.4% to 39.2 million shares, representing about 30.7% of the company and valued at $4.36 billion. Institutional investors collectively own 80.95% of RPM.
• RPM International exceeded quarterly expectations, reporting $1.89 in EPS versus $1.83 expected and $2.23 billion in revenue, up 7.2% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $126 target price.
• The company pays a quarterly dividend of $0.54 per share, or $2.16 annually, yielding approximately 2.2% with a 41.86% payout ratio.

California State Teachers Retirement System grew its stake in shares of RPM International Inc. (NYSE:RPM - Free Report) by 9,897.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,221,389 shares of the specialty chemicals company's stock after purchasing an additional 38,829,074 shares during the quarter. California State Teachers Retirement System owned about 30.70% of RPM International worth $4,359,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RPM. BlackRock Inc. acquired a new stake in shares of RPM International in the 2nd quarter valued at approximately $1,456,684,000. Corient Private Wealth LP acquired a new position in RPM International during the second quarter worth $11,652,000. Bank of New York Mellon Corp bought a new stake in RPM International during the second quarter worth $118,220,000. Legal & General Group Plc bought a new stake in RPM International during the second quarter worth $37,713,000. Finally, Ameriprise Financial Inc. lifted its stake in RPM International by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company's stock valued at $37,260,000 after acquiring an additional 888 shares during the last quarter. Institutional investors own 80.95% of the company's stock.

Analyst Ratings Changes

RPM has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price objective on shares of RPM International from $126.00 to $128.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Morgan Stanley cut their target price on shares of RPM International from $121.00 to $117.00 and set an "equal weight" rating for the company in a research note on Thursday, July 23rd. Bank of America lifted their price target on RPM International from $129.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Wall Street Zen downgraded RPM International from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of RPM International in a research note on Friday, July 24th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.00.

RPM International Price Performance

NYSE:RPM opened at $99.71 on Thursday. RPM International Inc. has a one year low of $92.92 and a one year high of $128.51. The company has a market cap of $12.72 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.09 and a beta of 1.05. The firm's fifty day moving average price is $108.04 and its two-hundred day moving average price is $105.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 1.16.

RPM International (NYSE:RPM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.06. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.18 billion. RPM International had a net margin of 8.41% and a return on equity of 22.45%. RPM International's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 EPS. Equities analysts expect that RPM International Inc. will post 6 earnings per share for the current year.

RPM International Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Tuesday, July 14th. This represents a $2.16 annualized dividend and a yield of 2.2%. RPM International's dividend payout ratio (DPR) is 41.86%.

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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