Corebridge Financial Inc. Sells 3,634 Shares of RPM International Inc. $RPM

Key Points

• Corebridge Financial Inc. reduced its stake in RPM International Inc. by 2.5% during the first quarter, now holding 142,315 shares valued at approximately $16.5 million.
• RPM recently reported earnings of $1.72 per share, exceeding estimates, with revenue of $2.08 billion, showing a year-over-year increase of 3.7%.
• Several analysts have upgraded RPM's stock ratings, with target prices ranging from $125.00 to $140.00, indicating a positive outlook in the market.

Corebridge Financial Inc. lessened its position in shares of RPM International Inc. (NYSE:RPM - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,315 shares of the specialty chemicals company's stock after selling 3,634 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of RPM International worth $16,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC lifted its position in RPM International by 43.4% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 390 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 118 shares during the period. Farther Finance Advisors LLC raised its stake in shares of RPM International by 82.1% during the first quarter. Farther Finance Advisors LLC now owns 763 shares of the specialty chemicals company's stock worth $89,000 after buying an additional 344 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in RPM International by 71.8% in the first quarter. Creative Financial Designs Inc. ADV now owns 919 shares of the specialty chemicals company's stock valued at $106,000 after buying an additional 384 shares during the period. Archer Investment Corp lifted its holdings in RPM International by 21.2% in the first quarter. Archer Investment Corp now owns 1,149 shares of the specialty chemicals company's stock valued at $133,000 after buying an additional 201 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in RPM International by 129.5% in the first quarter. Lindbrook Capital LLC now owns 1,565 shares of the specialty chemicals company's stock valued at $181,000 after buying an additional 883 shares during the period. 80.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of RPM International from $131.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their price objective on RPM International from $115.00 to $125.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Citigroup began 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. UBS Group lifted their price objective on RPM International from $110.00 to $119.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Finally, Mizuho lifted their price objective on RPM International from $126.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.09.

Insider Activity at RPM International

In other news, Director Frederick R. Nance sold 1,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $119.36, for a total value of $119,360.00. Following the sale, the director directly owned 7,394 shares in the company, valued at $882,547.84. The trade was a 11.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

RPM International Stock Down 0.1%

RPM stock traded down $0.08 during mid-day trading on Friday, hitting $125.40. 634,553 shares of the company were exchanged, compared to its average volume of 764,066. 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 Inc. has a 1-year low of $95.28 and a 1-year high of $141.79. The firm's 50 day simple moving average is $117.10 and its 200 day simple moving average is $114.64. The firm has a market cap of $16.09 billion, a P/E ratio of 23.44, a P/E/G ratio of 1.86 and a beta of 1.03.

RPM International (NYSE:RPM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. RPM International had a net margin of 9.34% and a return on equity of 24.94%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The firm's revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that RPM International Inc. will post 5.5 EPS for the current fiscal year.

RPM International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, July 15th. RPM International's payout ratio is 38.13%.

About RPM International

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.