Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Shares in RPM International Inc. $RPM

Key Points

• Mitsubishi UFJ Asset Management acquired 154,067 RPM International shares worth approximately $17.1 million, while institutional investors collectively own 80.95% of the company.
• Analysts remain generally optimistic: RPM has a consensus “Moderate Buy” rating from MarketBeat, with an average price target of $126; several firms recently raised their targets.
• RPM exceeded quarterly expectations, reporting $1.89 in EPS versus $1.83 expected and $2.23 billion in revenue, up 7.2% year over year. The company also maintains a quarterly dividend of $0.54 per share, yielding about 2.0% annually.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of RPM International Inc. (NYSE:RPM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 154,067 shares of the specialty chemicals company's stock, valued at approximately $17,124,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of RPM International at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC purchased a new stake in shares of RPM International in the second quarter valued at about $737,000. Plato Investment Management Ltd purchased a new position in RPM International during the second quarter worth about $3,410,000. N.E.W. Advisory Services LLC bought a new stake in RPM International in the 2nd quarter worth about $89,000. Flputnam Investment Management Co. bought a new stake in RPM International in the 2nd quarter worth about $701,000. Finally, Global Retirement Partners LLC purchased a new stake in RPM International in the 2nd quarter valued at about $248,000. Institutional investors own 80.95% of the company's stock.

Wall Street Analysts Forecast Growth

RPM has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on RPM International from $126.00 to $128.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Wall Street Zen raised RPM International from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Bank of America upped their price objective on RPM International from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. BMO Capital Markets raised their target price on RPM International from $143.00 to $151.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of RPM International in a research note on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.00.

RPM International Stock Down 0.9%

RPM stock opened at $110.67 on Friday. The stock has a 50-day simple moving average of $109.25 and a two-hundred day simple moving average of $106.73. RPM International Inc. has a twelve month low of $92.92 and a twelve month high of $129.12. The firm has a market capitalization of $14.14 billion, a PE ratio of 21.45, a PEG ratio of 2.28 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 announced its quarterly 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. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.18 billion. RPM International had a net margin of 8.41% and a return on equity of 22.45%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 earnings per share. On average, equities analysts predict 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%.

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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