Paloma Partners Management Co reduced its stake in RPM International Inc. (NYSE:RPM) by 53.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,945 shares of the specialty chemicals company’s stock after selling 38,405 shares during the period. Paloma Partners Management Co’s holdings in RPM International were worth $1,780,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in RPM International by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,703,462 shares of the specialty chemicals company’s stock worth $89,295,000 after purchasing an additional 45,811 shares during the period. TimesSquare Capital Management LLC increased its stake in RPM International by 20.2% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,350,600 shares of the specialty chemicals company’s stock worth $70,798,000 after purchasing an additional 227,000 shares during the period. Geode Capital Management LLC increased its stake in RPM International by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,051,576 shares of the specialty chemicals company’s stock worth $55,123,000 after purchasing an additional 12,367 shares during the period. Mawer Investment Management Ltd. increased its stake in RPM International by 0.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 975,858 shares of the specialty chemicals company’s stock worth $51,154,000 after purchasing an additional 8,100 shares during the period. Finally, Empire Life Investments Inc. increased its stake in shares of RPM International by 0.6% during the fourth quarter. Empire Life Investments Inc. now owns 574,178 shares of the specialty chemicals company’s stock valued at $30,098,000 after buying an additional 3,602 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of RPM stock opened at $47.10 on Friday. The firm has a market capitalization of $6,370.52, a P/E ratio of 19.07, a PEG ratio of 1.71 and a beta of 1.45. RPM International Inc. has a twelve month low of $46.36 and a twelve month high of $56.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 2.23.
RPM International (NYSE:RPM) last issued its quarterly earnings results on Thursday, April 5th. The specialty chemicals company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.11. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. RPM International had a return on equity of 25.05% and a net margin of 6.80%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. equities analysts anticipate that RPM International Inc. will post 3.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Tuesday, April 17th will be paid a $0.32 dividend. The ex-dividend date is Monday, April 16th. This represents a $1.28 annualized dividend and a yield of 2.72%. RPM International’s payout ratio is 51.82%.
In other RPM International news, Chairman Frank C. Sullivan sold 35,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $52.38, for a total value of $1,833,300.00. Following the sale, the chairman now directly owns 1,188,489 shares of the company’s stock, valued at $62,253,053.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward W. Moore sold 2,578 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $53.79, for a total value of $138,670.62. Following the completion of the sale, the senior vice president now directly owns 98,417 shares in the company, valued at $5,293,850.43. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.
Several equities analysts have recently issued reports on the company. Robert W. Baird reissued a “hold” rating and set a $53.00 target price on shares of RPM International in a research note on Friday. Seaport Global Securities reissued a “buy” rating and set a $58.00 target price on shares of RPM International in a research note on Friday. Vertical Research raised RPM International from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Gabelli reissued a “buy” rating on shares of RPM International in a research note on Wednesday, March 28th. Finally, Zacks Investment Research raised RPM International from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $55.14.
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RPM International Company Profile
RPM International Inc manufactures, markets, and sells specialty chemical products for 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 solutions; flooring and in-plant glazing solutions; passive fire protection and manufacturing industry solutions; polymer flooring systems; and fiberglass reinforced plastic gratings and shapes.
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