Lord Abbett & CO. LLC increased its position in RPM International Inc. (NYSE:RPM) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,007,328 shares of the specialty chemicals company’s stock after acquiring an additional 87,679 shares during the period. Lord Abbett & CO. LLC owned approximately 0.75% of RPM International worth $54,950,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its holdings in RPM International by 2.7% during the 2nd quarter. Advisory Services Network LLC now owns 2,174 shares of the specialty chemicals company’s stock valued at $119,000 after buying an additional 57 shares during the last quarter. Albion Financial Group UT lifted its stake in shares of RPM International by 1.1% during the 2nd quarter. Albion Financial Group UT now owns 8,583 shares of the specialty chemicals company’s stock worth $468,000 after purchasing an additional 95 shares during the period. Buffington Mohr McNeal lifted its stake in shares of RPM International by 0.5% during the 2nd quarter. Buffington Mohr McNeal now owns 19,570 shares of the specialty chemicals company’s stock worth $1,068,000 after purchasing an additional 100 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of RPM International by 0.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,995 shares of the specialty chemicals company’s stock worth $1,854,000 after purchasing an additional 200 shares during the period. Finally, Fieldpoint Private Securities LLC lifted its stake in shares of RPM International by 1.5% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 13,805 shares of the specialty chemicals company’s stock worth $753,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.
RPM has been the topic of several research reports. Robert W. Baird reaffirmed a “hold” rating and issued a $56.00 target price on shares of RPM International in a research report on Friday, September 1st. Zacks Investment Research downgraded RPM International from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. TheStreet downgraded RPM International from a “b” rating to a “c+” rating in a report on Wednesday, October 4th. BidaskClub downgraded RPM International from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Bank of America Corporation lowered their target price on RPM International from $58.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $57.00.
In other news, insider Ronald A. Rice sold 44,839 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $51.83, for a total value of $2,324,005.37. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.
RPM International Inc. (NYSE:RPM) traded up 2.35% on Friday, reaching $53.95. 1,543,352 shares of the company’s stock traded hands. The firm has a market capitalization of $7.20 billion, a PE ratio of 38.79 and a beta of 1.55. RPM International Inc. has a 52-week low of $46.25 and a 52-week high of $56.48. The firm’s 50 day moving average price is $51.14 and its 200 day moving average price is $52.25.
RPM International (NYSE:RPM) last posted its earnings results on Wednesday, October 4th. The specialty chemicals company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. RPM International had a net margin of 3.67% and a return on equity of 24.73%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. On average, analysts predict that RPM International Inc. will post $2.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, October 13th. This is an increase from RPM International’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 2.37%. RPM International’s dividend payout ratio is 94.82%.
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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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