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

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of RPM International by 82.1% in the 1st quarter. Farther Finance Advisors LLC now owns 763 shares of the specialty chemicals company's stock valued at $89,000 after buying an additional 344 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of RPM International by 355.5% in the first quarter. SG Americas Securities LLC now owns 5,106 shares of the specialty chemicals company's stock valued at $591,000 after buying an additional 3,985 shares during the period. GAMMA Investing LLC increased its holdings in RPM International by 7.4% during the 1st quarter. GAMMA Investing LLC now owns 2,344 shares of the specialty chemicals company's stock worth $271,000 after purchasing an additional 161 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in RPM International by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 338,370 shares of the specialty chemicals company's stock worth $39,143,000 after purchasing an additional 33,016 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in RPM International by 145,300.0% during the 1st quarter. NBC Securities Inc. now owns 2,908 shares of the specialty chemicals company's stock worth $336,000 after purchasing an additional 2,906 shares in the last quarter. Institutional investors own 80.95% of the company's stock.

Insider Activity

In related news, Director Frederick R. Nance sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $119.36, for a total value of $119,360.00. Following the transaction, the director directly owned 7,394 shares in the company, valued at approximately $882,547.84. This represents a 11.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group increased their target price on RPM International from $110.00 to $119.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Bank of America upgraded shares of RPM International from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $110.00 to $128.00 in a report on Thursday, August 14th. Royal Bank Of Canada increased their target price on shares of RPM International from $115.00 to $125.00 and gave the stock a "sector perform" rating in a report on Monday, July 28th. Citigroup assumed coverage on shares of RPM International in a report on Monday, June 2nd. They set a "buy" rating and a $135.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of RPM International from $113.00 to $124.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $131.09.

RPM International Stock Performance

NYSE RPM traded down $0.08 during trading on Friday, reaching $125.40. 634,553 shares of the company's stock were exchanged, compared to its average volume of 655,761. The business has a 50 day moving average price of $117.47 and a 200-day moving average price of $114.63. The stock has a market capitalization of $16.09 billion, a P/E ratio of 23.44, a PEG ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.16 and a quick ratio of 1.45. RPM International Inc. has a fifty-two week low of $95.28 and a fifty-two week high of $141.79.

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

RPM International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were issued 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 dividend yield of 1.6%. RPM International's dividend payout ratio (DPR) is currently 38.13%.

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.