KeyCorp Analysts Cut Earnings Estimates for RPM International Inc. (RPM)
RPM International Inc. (NYSE:RPM) – Research analysts at KeyCorp reduced their FY2017 earnings per share (EPS) estimates for RPM International in a report released on Wednesday. KeyCorp analyst I. Marcuse now forecasts that the firm will earn $2.70 per share for the year, down from their previous estimate of $2.75.
Several other brokerages have also recently weighed in on RPM. Seaport Global Securities cut RPM International from an “accumulate” rating to a “neutral” rating and raised their target price for the company from $55.00 to $57.00 in a research note on Wednesday, August 10th. Zacks Investment Research cut RPM International from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of RPM International in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of RPM International in a research note on Monday, July 18th. Finally, Wellington Shields cut RPM International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. RPM International presently has a consensus rating of “Hold” and an average price target of $53.25.
Shares of RPM International (NYSE:RPM) traded down 2.65% during mid-day trading on Friday, hitting $48.88. The stock had a trading volume of 699,297 shares. RPM International has a one year low of $36.78 and a one year high of $55.92. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 18.56 and a beta of 1.38. The company has a 50-day moving average of $53.37 and a 200 day moving average of $51.32.
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RPM International (NYSE:RPM) last issued its earnings results on Wednesday, October 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. RPM International had a return on equity of 27.52% and a net margin of 7.62%. The business earned $1.25 billion during the quarter. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cribstone Capital Management LLC acquired a new position in RPM International during the second quarter worth about $112,000. Fuller & Thaler Asset Management Inc. acquired a new position in RPM International during the second quarter worth about $115,000. Moon Capital Management LLC acquired a new position in RPM International during the second quarter worth about $199,000. FDx Advisors Inc. acquired a new position in RPM International during the second quarter worth about $205,000. Finally, Johnson Financial Group Inc. acquired a new position in RPM International during the second quarter worth about $250,000. 72.08% of the stock is owned by hedge funds and other institutional investors.
In other RPM International news, VP Barry Slifstein sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $54.27, for a total value of $54,270.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Frank C. Sullivan sold 60,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $53.56, for a total value of $3,213,600.00. Following the completion of the transaction, the chairman now directly owns 1,144,622 shares of the company’s stock, valued at $61,305,954.32. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. This is a boost from RPM International’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, October 13th. RPM International’s payout ratio is presently 40.44%.
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. The Company operates through two segments, which include industrial segment and consumer segment.
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