Korea Investment CORP Takes $5.65 Million Position in RPM International Inc. $RPM

Korea Investment CORP purchased a new position in RPM International Inc. (NYSE:RPM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 50,860 shares of the specialty chemicals company's stock, valued at approximately $5,653,000.

Other large investors also recently made changes to their positions in the company. Lazard Asset Management LLC lifted its position in RPM International by 5.8% during the 2nd quarter. Lazard Asset Management LLC now owns 1,685 shares of the specialty chemicals company's stock worth $184,000 after acquiring an additional 93 shares during the last quarter. LRI Investments LLC increased its stake in shares of RPM International by 6.6% in the fourth quarter. LRI Investments LLC now owns 1,752 shares of the specialty chemicals company's stock worth $182,000 after purchasing an additional 108 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in shares of RPM International by 2.0% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 5,894 shares of the specialty chemicals company's stock worth $613,000 after purchasing an additional 114 shares during the period. Versant Capital Management Inc lifted its position in shares of RPM International by 36.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,050 shares of the specialty chemicals company's stock worth $117,000 after purchasing an additional 278 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in RPM International during the 4th quarter valued at approximately $37,000. Institutional investors own 80.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RPM shares. Royal Bank Of Canada increased their price objective on RPM International from $126.00 to $128.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. BMO Capital Markets upped their target price on shares of RPM International from $143.00 to $151.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of RPM International in a report on Friday, July 24th. UBS Group upgraded shares of RPM International from a "neutral" rating to a "buy" rating and raised their price target for the stock from $118.00 to $130.00 in a research report on Wednesday, May 27th. Finally, Citigroup boosted their price objective 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. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $126.00.

RPM International Trading Down 2.1%

Shares of RPM International stock opened at $106.38 on Tuesday. RPM International Inc. has a 12-month low of $92.92 and a 12-month high of $128.51. The stock has a market capitalization of $13.59 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 2.22 and a beta of 1.04. The company has a 50-day simple moving average of $109.24 and a 200 day simple moving average of $106.71. 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 announced its earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.83 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.18 billion. RPM International had a return on equity of 22.45% and a net margin of 8.41%.The business's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.72 earnings per share. Research analysts expect that RPM International Inc. will post 6 earnings per share for the current fiscal year.

RPM International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were paid a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.0%. RPM International's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source