Elevation Point Wealth Partners LLC Invests $1.22 Million in RPM International Inc. $RPM

Key Points

• Elevation Point Wealth Partners bought 10,942 RPM International shares worth approximately $1.22 million during the second quarter. Institutional investors collectively own 80.95% of the company.
• RPM reported quarterly EPS of $1.89, exceeding estimates of $1.83, while revenue rose 7.2% year over year to $2.23 billion. The company also maintains a quarterly dividend of $0.54 per share, yielding about 2.0% annually.
• Analysts remain generally positive, with RPM carrying a “Moderate Buy” consensus rating and an average price target of $126, compared with a recent share price of $108.78.

Elevation Point Wealth Partners LLC bought a new position in shares of RPM International Inc. (NYSE:RPM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,942 shares of the specialty chemicals company's stock, valued at approximately $1,216,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gamco Investors INC. ET AL bought a new position in shares of RPM International during the 2nd quarter worth about $402,000. Gabelli Funds LLC bought a new position in RPM International in the second quarter worth approximately $1,534,000. California State Teachers Retirement System grew its stake in RPM International by 21.7% in the second quarter. California State Teachers Retirement System now owns 355,934 shares of the specialty chemicals company's stock valued at $39,096,000 after acquiring an additional 63,532 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of RPM International by 0.3% during 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 in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of RPM International by 5.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,031 shares of the specialty chemicals company's stock worth $1,321,000 after purchasing an additional 594 shares during the period. 80.95% of the stock is owned by institutional investors.

RPM International Price Performance

Shares of NYSE RPM opened at $108.78 on Monday. RPM International Inc. has a twelve month low of $92.92 and a twelve month high of $129.12. The stock's 50 day moving average price is $109.29 and its 200-day moving average price is $106.74. The company has a market capitalization of $13.90 billion, a PE ratio of 21.08, a PEG ratio of 2.22 and a beta of 1.04. 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 quarterly earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.06. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. RPM International had a return on equity of 22.45% and a net margin of 8.41%.RPM International's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.72 earnings per share. On average, equities analysts anticipate that RPM International Inc. will post 6 EPS for the current year.

RPM International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th were paid a dividend of $0.54 per share. The ex-dividend date was Tuesday, July 14th. This represents a $2.16 annualized dividend and a dividend yield of 2.0%. RPM International's dividend payout ratio (DPR) is presently 41.86%.

Analysts Set New Price Targets

Several research firms recently issued reports on RPM. Bank of America lifted 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. Wall Street Zen cut shares of RPM International from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup upped their target price on shares of RPM International from $125.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, May 29th. BMO Capital Markets boosted their price objective on RPM International from $143.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Finally, Morgan Stanley lowered their price objective on 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. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, RPM International currently has an average rating of "Moderate Buy" and an average target price of $126.00.

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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