Quantbot Technologies LP raised its holdings in RPM International Inc. (NYSE:RPM) by 72.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,073 shares of the specialty chemicals company’s stock after acquiring an additional 14,723 shares during the period. Quantbot Technologies LP’s holdings in RPM International were worth $1,800,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. North Point Portfolio Managers Corp OH acquired a new stake in shares of RPM International during the 2nd quarter worth approximately $10,821,000. BTIM Corp. acquired a new stake in shares of RPM International during the 2nd quarter worth approximately $8,197,000. Cramer Rosenthal Mcglynn LLC increased its holdings in shares of RPM International by 28.9% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 667,874 shares of the specialty chemicals company’s stock worth $36,433,000 after buying an additional 149,861 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in shares of RPM International during the 2nd quarter worth approximately $7,218,000. Finally, Lord Abbett & CO. LLC increased its holdings in shares of RPM International by 9.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,007,328 shares of the specialty chemicals company’s stock worth $54,950,000 after buying an additional 87,679 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.
In related news, insider Ronald A. Rice sold 44,839 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $51.83, for a total transaction of $2,324,005.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.
A number of analysts have recently issued reports on RPM shares. TheStreet downgraded shares of RPM International from a “b” rating to a “c+” rating in a report on Wednesday, October 4th. Royal Bank Of Canada restated a “hold” rating and set a $51.00 price target on shares of RPM International in a report on Wednesday. Bank of America Corporation lowered their price objective on shares of RPM International from $58.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of RPM International from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. Finally, Wellington Shields raised shares of RPM International from a “hold” rating to an “accumulate” rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.33.
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RPM International Inc. (NYSE RPM) opened at $51.87 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.38 and a debt-to-equity ratio of 1.20. The firm has a market cap of $6,926.51, a P/E ratio of 20.42, a P/E/G ratio of 2.31 and a beta of 1.54. RPM International Inc. has a 1 year low of $47.87 and a 1 year high of $56.48.
RPM International (NYSE:RPM) last posted its quarterly earnings data on Wednesday, October 4th. The specialty chemicals company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. RPM International had a net margin of 3.67% and a return on equity of 24.73%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.83 EPS. analysts expect that RPM International Inc. will post 2.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from RPM International’s previous quarterly dividend of $0.30. RPM International’s dividend payout ratio (DPR) is presently 94.82%.
About RPM International
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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