Corient Private Wealth LP Acquires New Shares in RPM International Inc. $RPM

Key Points

• Corient Private Wealth acquired 1.27 million RPM International shares worth approximately $11.65 million, giving it a 0.99% stake. Institutional investors collectively own 80.95% of the company.
• Analysts remain broadly positive, with 10 Buy and four Hold ratings, a “Moderate Buy” consensus, and an average price target of $126.00. Recent targets range from $128 to $151.
• RPM International exceeded quarterly expectations with earnings of $1.89 per share and revenue of $2.23 billion, up 7.2% year over year. The company also pays a quarterly dividend of $0.54 per share, representing a 2.0% annualized yield.

Corient Private Wealth LP acquired a new position in shares of RPM International Inc. (NYSE:RPM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,269,431 shares of the specialty chemicals company's stock, valued at approximately $11,652,000. Corient Private Wealth LP owned about 0.99% of RPM International as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in RPM International in the second quarter valued at $1,456,684,000. Bank of New York Mellon Corp acquired a new position in shares of RPM International during the 2nd quarter worth $118,220,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of RPM International in the 4th quarter worth about $54,307,000. California State Teachers Retirement System boosted its position in shares of RPM International by 14.5% in the 4th quarter. California State Teachers Retirement System now owns 394,860 shares of the specialty chemicals company's stock worth $41,065,000 after buying an additional 49,979 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in RPM International during the 2nd quarter valued at about $37,713,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of RPM International from $126.00 to $128.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Bank of America increased their price target on shares of RPM International from $129.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Citigroup raised their price objective on shares of RPM International from $125.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. BMO Capital Markets lifted their price objective on RPM International from $143.00 to $151.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen lowered RPM International from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, RPM International has an average rating of "Moderate Buy" and a consensus target price of $126.00.

RPM International Trading Up 1.0%

Shares of RPM stock opened at $106.79 on Friday. The firm has a 50-day moving average price of $109.11 and a 200 day moving average price of $106.51. RPM International Inc. has a twelve month low of $92.92 and a twelve month high of $128.51. The company has a market capitalization of $13.62 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.17 and a beta of 1.04. The company has a current ratio of 1.68, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.

RPM International (NYSE:RPM - Get Free Report) last released its earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. RPM International had a net margin of 8.41% and a return on equity of 22.45%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.72 EPS. Research analysts forecast that RPM International Inc. will post 6 earnings per share for the current fiscal year.

RPM International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors 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 dividend on an annualized basis and a yield of 2.0%. RPM International's dividend payout ratio (DPR) is 41.86%.

RPM International Profile

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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