Meiji Yasuda Asset Management Co Ltd. Makes New Investment in RPM International Inc. $RPM

Key Points

• Meiji Yasuda Asset Management acquired 47,581 shares of RPM International worth approximately $5.3 million, while institutional investors collectively own 80.95% of the company.
• RPM reported quarterly earnings of $1.89 per share, beating estimates of $1.83, with revenue up 7.2% year over year to $2.23 billion.
• The company pays a quarterly dividend of $0.54, equivalent to an annualized $2.16 and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $126, above the stock’s $108.78 opening price.

Meiji Yasuda Asset Management Co Ltd. acquired a new position in RPM International Inc. (NYSE:RPM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 47,581 shares of the specialty chemicals company's stock, valued at approximately $5,289,000.

Several other large investors have also bought and sold shares of RPM. Ares Financial Consulting LLC bought a new position in RPM International during the 4th quarter worth approximately $37,000. Danske Bank A S acquired a new stake in shares of RPM International during the second quarter worth $47,000. Rothschild Investment LLC increased its position in shares of RPM International by 2,387.0% during the fourth quarter. Rothschild Investment LLC now owns 572 shares of the specialty chemicals company's stock worth $59,000 after buying an additional 549 shares during the period. Los Angeles Capital Management LLC bought a new position in RPM International during the fourth quarter worth $60,000. Finally, USA Financial Formulas bought a new position in RPM International during the first quarter worth $67,000. 80.95% of the stock is owned by institutional investors.

RPM International Trading Up 0.1%

Shares of RPM stock opened at $108.78 on Monday. RPM International Inc. has a 52-week low of $92.92 and a 52-week high of $129.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.68. The company has a 50-day simple moving average of $109.29 and a two-hundred day simple moving average of $106.74. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.22 and a beta of 1.04.

RPM International (NYSE:RPM - Get Free Report) last released its 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. 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 in the previous year, the business posted $1.72 EPS. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts anticipate that RPM International Inc. will post 6 EPS for the current fiscal year.

RPM International Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RPM. Morgan Stanley cut their price target on shares of RPM International from $121.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 23rd. Citigroup lifted their price objective on RPM International from $125.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Weiss Ratings restated a "hold (c)" rating on shares of RPM International in a research report on Friday, July 24th. Royal Bank Of Canada raised their target price on RPM International from $126.00 to $128.00 and gave the stock an "outperform" rating in a research note 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. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, RPM International currently has an average rating of "Moderate Buy" and an average target price of $126.00.

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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