RPM International (NYSE:RPM) Shares Gap Up Following Better-Than-Expected Earnings

RPM International Inc. (NYSE:RPM - Get Free Report)'s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $112.95, but opened at $121.86. RPM International shares last traded at $123.21, with a volume of 661,628 shares traded.

The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. RPM International had a return on equity of 25.08% and a net margin of 8.82%. RPM International's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.56 EPS.

RPM International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, July 15th. RPM International's dividend payout ratio (DPR) is 40.88%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of RPM International from $126.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Fermium Researc raised shares of RPM International to a "hold" rating in a research note on Wednesday, April 9th. Citigroup assumed coverage on shares of RPM International in a research report on Monday, June 2nd. They set a "buy" rating and a $135.00 price objective for the company. UBS Group upped their target price on shares of RPM International from $110.00 to $119.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Robert W. Baird dropped their target price on shares of RPM International from $125.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.80.

Institutional Trading of RPM International

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of RPM International by 12,321.2% in the first quarter. GAMMA Investing LLC now owns 271,154 shares of the specialty chemicals company's stock valued at $31,367,000 after purchasing an additional 268,971 shares during the period. Fairway Wealth LLC grew its holdings in shares of RPM International by 50,413.3% during the first quarter. Fairway Wealth LLC now owns 220,743 shares of the specialty chemicals company's stock worth $25,536,000 after buying an additional 220,306 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of RPM International by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 2,735,940 shares of the specialty chemicals company's stock worth $336,198,000 after buying an additional 79,256 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of RPM International by 39.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 279,570 shares of the specialty chemicals company's stock worth $34,404,000 after buying an additional 78,828 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of RPM International during the fourth quarter worth $9,161,000. Hedge funds and other institutional investors own 80.95% of the company's stock.

RPM International Stock Up 9.0%

The firm's 50-day moving average price is $112.27 and its 200 day moving average price is $115.05. The firm has a market cap of $15.81 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03. The company has a quick ratio of 1.38, a current ratio of 2.22 and a debt-to-equity ratio of 0.78.

About RPM International

RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and traditional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance services; sealing and bonding, subfloor preparation, flooring, and glazing solutions; resin flooring systems, polyurethane, MMA waterproof, epoxy floor paint and coatings, concrete repair, and protection products; fire stopping and intumescent steel coating, and manufacturing industry solutions; rolled asphalt roofing materials and chemical admixtures; concrete and masonry admixtures, concrete fibers, curing and sealing compounds, structural grouts and mortars, epoxy adhesives, injection resins, polyurethane foams, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and restoration materials; insulated building cladding materials; and concrete form wall systems.

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