Bank of New York Mellon Corp cut its holdings in RPM International Inc. (NYSE:RPM) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,675,306 shares of the specialty chemicals company’s stock after selling 21,078 shares during the quarter. Bank of New York Mellon Corp’s holdings in RPM International were worth $97,704,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of RPM. Baltimore Washington Financial Advisors Inc. acquired a new position in RPM International in the second quarter valued at approximately $204,000. Elefante Mark B acquired a new position in RPM International in the second quarter valued at approximately $213,000. Bradley Foster & Sargent Inc. CT acquired a new position in RPM International in the second quarter valued at approximately $213,000. Sit Investment Associates Inc. lifted its stake in RPM International by 26.1% in the second quarter. Sit Investment Associates Inc. now owns 4,475 shares of the specialty chemicals company’s stock valued at $261,000 after buying an additional 925 shares during the period. Finally, Hartford Investment Management Co. acquired a new position in RPM International in the second quarter valued at approximately $349,000. 79.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:RPM opened at $63.13 on Friday. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 1.41. RPM International Inc. has a twelve month low of $46.36 and a twelve month high of $68.13. The company has a market cap of $8.37 billion, a PE ratio of 21.62, a PEG ratio of 2.96 and a beta of 1.34.
RPM International (NYSE:RPM) last issued its earnings results on Wednesday, October 3rd. The specialty chemicals company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.10). RPM International had a return on equity of 22.77% and a net margin of 5.36%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company earned $0.86 earnings per share. RPM International’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that RPM International Inc. will post 2.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from RPM International’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, October 15th. RPM International’s dividend payout ratio is presently 47.95%.
In other news, Director John M. Ballbach bought 3,360 shares of the stock in a transaction dated Monday, October 15th. The shares were bought at an average cost of $59.53 per share, with a total value of $200,020.80. Following the completion of the transaction, the director now directly owns 13,260 shares of the company’s stock, valued at $789,367.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Livingston bought 5,000 shares of the stock in a transaction dated Friday, August 17th. The shares were purchased at an average cost of $64.06 per share, for a total transaction of $320,300.00. Following the completion of the transaction, the director now directly owns 7,150 shares of the company’s stock, valued at $458,029. The disclosure for this purchase can be found here. Insiders have bought 10,360 shares of company stock worth $640,741 over the last ninety days. 1.80% of the stock is owned by insiders.
Several equities analysts have issued reports on RPM shares. Zacks Investment Research lowered RPM International from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Morgan Stanley reissued a “buy” rating on shares of RPM International in a research note on Monday, October 8th. Bank of America raised RPM International from a “neutral” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Wednesday, July 18th. BMO Capital Markets dropped their price target on RPM International from $75.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, October 8th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $60.00 price target on shares of RPM International in a research note on Thursday, October 4th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $60.00.
RPM International Profile
RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. Its Industrial segment offers waterproofing, coatings, and institutional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance and related services; sealing and bonding, and flooring and in-plant glazing solutions; solutions for fire stopping and intumescent steel coating, and the manufacturing industry; polymer flooring systems; and fiberglass reinforced plastic gratings and shapes.
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