RPM International Inc. (RPM) Declares Dividend Increase – $0.32 Per Share
RPM International Inc. (NYSE:RPM) declared a quarterly dividend on Thursday, October 5th, RTT News reports. Shareholders of record on Monday, October 16th will be paid a dividend of 0.32 per share by the specialty chemicals company on Tuesday, October 31st. This represents a $1.28 annualized dividend and a yield of 2.48%. This is an increase from RPM International’s previous quarterly dividend of $0.30.
RPM International has increased its dividend by an average of 17.7% per year over the last three years and has raised its dividend every year for the last 42 years. RPM International has a payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RPM International to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 38.1%.
Shares of RPM International (NYSE RPM) traded up 0.17% during mid-day trading on Thursday, reaching $51.63. 1,603,770 shares of the company traded hands. The company has a market capitalization of $6.90 billion, a P/E ratio of 37.82 and a beta of 1.55. The firm’s 50 day moving average price is $49.92 and its 200-day moving average price is $52.51. RPM International has a 52-week low of $46.25 and a 52-week high of $56.48.
RPM International (NYSE:RPM) last announced its quarterly earnings data on Wednesday, October 4th. The specialty chemicals company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. RPM International had a return on equity of 25.02% and a net margin of 3.67%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Equities analysts predict that RPM International will post $2.87 earnings per share for the current fiscal year.
Several brokerages have issued reports on RPM. Zacks Investment Research cut RPM International from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Robert W. Baird reaffirmed a “hold” rating and set a $56.00 price objective on shares of RPM International in a research note on Friday, September 1st. Wellington Shields raised RPM International from a “hold” rating to an “accumulate” rating in a research note on Friday, August 18th. BidaskClub cut RPM International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, Bank of America Corporation decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $57.00.
In other RPM International news, SVP Edward W. Moore sold 10,568 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $52.04, for a total transaction of $549,958.72. Following the transaction, the senior vice president now owns 92,549 shares of the company’s stock, valued at $4,816,249.96. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.10% of the stock is owned by insiders.
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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