Covington Investment Advisors Inc. Purchases Shares of 72,260 RPM International Inc. $RPM

Key Points

• Covington Investment Advisors purchased 72,260 shares of RPM International worth approximately $8.0 million, while institutional investors collectively own 80.95% of the company.
• Analysts remain broadly positive, with 10 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $126.
• RPM exceeded quarterly expectations, reporting $1.89 in EPS and $2.23 billion in revenue, up 7.2% year over year. The company also maintains a quarterly dividend of $0.54, equivalent to a 2.0% annual yield.

Covington Investment Advisors Inc. purchased a new position in shares of RPM International Inc. (NYSE:RPM - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 72,260 shares of the specialty chemicals company's stock, valued at approximately $8,032,000. Covington Investment Advisors Inc. owned 0.06% of RPM International at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Ares Financial Consulting LLC acquired a new position in shares of RPM International in the 4th quarter valued at about $37,000. Danske Bank A S acquired a new stake in RPM International during the second quarter worth approximately $47,000. Rothschild Investment LLC increased its holdings in RPM International by 2,387.0% in the fourth quarter. Rothschild Investment LLC now owns 572 shares of the specialty chemicals company's stock worth $59,000 after purchasing an additional 549 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in RPM International in the fourth quarter worth approximately $60,000. Finally, USA Financial Formulas acquired a new position in RPM International in the first quarter valued at approximately $67,000. 80.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of RPM International from $121.00 to $117.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Royal Bank Of Canada increased their target price 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. BMO Capital Markets raised their price target on shares of RPM International from $143.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Citigroup lifted their price target on shares of RPM International from $125.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Finally, Wall Street Zen lowered shares of RPM International from a "buy" rating to a "hold" rating in a report on Saturday. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $126.00.

RPM International Trading Up 0.1%

NYSE RPM opened at $108.78 on Monday. The company has a market cap of $13.90 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.22 and a beta of 1.04. RPM International Inc. has a 52 week low of $92.92 and a 52 week high of $129.12. The business has a 50 day moving average price of $109.29 and a 200-day moving average price of $106.74. The company has a quick ratio of 1.16, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

RPM International (NYSE:RPM - Get Free Report) last issued 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. RPM International had a return on equity of 22.45% and a net margin of 8.41%.The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same period last year, the business earned $1.72 EPS. RPM International's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that RPM International Inc. will post 6 earnings per share for the current fiscal year.

RPM International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, July 14th. 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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