RPM International Inc. (RPM) Upgraded to Buy by Zacks Investment Research
RPM International Inc. (NYSE:RPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm currently has a $59.00 price objective on the specialty chemicals company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.21% from the company’s current price.
According to Zacks, “RPM Incorporated manufactures and markets specialty paints, protective coatings and roofing systems, sealants and adhesives, for use in both industrial and consumer applications. RPM markets its products in numerous countries and operates manufacturing facilities in the United States, Argentina, Belgium, Brazil, Canada, China, Colombia, Germany, Italy, Malaysia, Mexico, New Zealand, The Netherlands, Poland, South Africa, the United Arab Emirates and the United Kingdom. “
A number of other equities research analysts have also issued reports on RPM. TheStreet raised RPM International from a “c+” rating to a “b-” rating in a research report on Thursday, March 16th. Northcoast Research raised RPM International from a “neutral” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Friday, February 17th. Evercore ISI initiated coverage on RPM International in a research report on Monday, February 13th. They set a “buy” rating and a $59.00 price target on the stock. Finally, Seaport Global Securities raised RPM International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $60.00.
Shares of RPM International (NYSE:RPM) opened at 53.17 on Friday. The firm has a market capitalization of $7.10 billion, a P/E ratio of 34.04 and a beta of 1.38. RPM International has a one year low of $46.25 and a one year high of $56.40. The firm has a 50-day moving average of $52.36 and a 200-day moving average of $52.79.
RPM International (NYSE:RPM) last issued its earnings results on Thursday, April 6th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.02. RPM International had a return on equity of 26.60% and a net margin of 4.39%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $0.14 EPS. RPM International’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts predict that RPM International will post $2.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, April 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. RPM International’s payout ratio is 76.92%.
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Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in RPM International during the fourth quarter worth approximately $60,036,000. State Street Corp boosted its position in shares of RPM International by 4.1% in the first quarter. State Street Corp now owns 6,533,969 shares of the specialty chemicals company’s stock worth $359,572,000 after buying an additional 257,980 shares during the last quarter. BB&T Securities LLC boosted its position in shares of RPM International by 320.5% in the first quarter. BB&T Securities LLC now owns 189,588 shares of the specialty chemicals company’s stock worth $10,433,000 after buying an additional 144,500 shares during the last quarter. LaFleur & Godfrey LLC purchased a new position in shares of RPM International during the first quarter worth about $5,126,000. Finally, Mawer Investment Management Ltd. boosted its position in shares of RPM International by 9.7% in the first quarter. Mawer Investment Management Ltd. now owns 963,978 shares of the specialty chemicals company’s stock worth $53,048,000 after buying an additional 85,425 shares during the last quarter. 73.12% of the stock is owned by institutional investors.
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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