State Street Corp increased its position in shares of RPM International Inc. (NYSE:RPM) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,557,057 shares of the specialty chemicals company’s stock after acquiring an additional 23,088 shares during the period. State Street Corp owned about 4.91% of RPM International worth $357,688,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of RPM. Trust Co. of Vermont grew its position in RPM International by 116.9% during the 2nd quarter. Trust Co. of Vermont now owns 2,820 shares of the specialty chemicals company’s stock worth $154,000 after acquiring an additional 1,520 shares during the last quarter. Flinton Capital Management LLC grew its position in RPM International by 52.1% during the 2nd quarter. Flinton Capital Management LLC now owns 6,864 shares of the specialty chemicals company’s stock worth $374,000 after acquiring an additional 2,352 shares during the last quarter. Airain ltd grew its position in RPM International by 40.6% during the 2nd quarter. Airain ltd now owns 7,524 shares of the specialty chemicals company’s stock worth $410,000 after acquiring an additional 2,172 shares during the last quarter. Riverhead Capital Management LLC grew its position in RPM International by 52.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,623 shares of the specialty chemicals company’s stock worth $416,000 after acquiring an additional 2,623 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in RPM International during the 2nd quarter worth $526,000. Institutional investors and hedge funds own 73.49% of the company’s stock.
Shares of RPM International Inc. (NYSE:RPM) opened at 51.76 on Friday. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 37.92 and a beta of 1.55. The firm has a 50 day moving average price of $50.49 and a 200-day moving average price of $52.38. RPM International Inc. has a 52-week low of $46.25 and a 52-week high of $56.48.
RPM International (NYSE:RPM) last announced its quarterly earnings data on Wednesday, October 4th. The specialty chemicals company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. RPM International had a return on equity of 24.73% and a net margin of 3.67%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that RPM International Inc. will post $2.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be paid a dividend of $0.32 per share. This is a boost from RPM International’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, October 13th. RPM International’s dividend payout ratio (DPR) is 88.89%.
A number of equities research analysts recently weighed in on the company. BidaskClub upgraded RPM International from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Bank of America Corporation reduced their price objective on RPM International from $58.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 25th. Zacks Investment Research upgraded RPM International from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. TheStreet lowered RPM International from a “b” rating to a “c+” rating in a research report on Wednesday, October 4th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $56.00 price target on shares of RPM International in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. RPM International presently has a consensus rating of “Hold” and a consensus target price of $57.00.
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In other news, SVP Edward W. Moore sold 10,568 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $52.04, for a total transaction of $549,958.72. Following the transaction, the senior vice president now directly owns 92,549 shares of the company’s stock, valued at $4,816,249.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.
RPM International Company Profile
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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