RPM International Inc. (NYSE:RPM) – Analysts at KeyCorp upped their Q4 2018 earnings per share (EPS) estimates for RPM International in a research note issued to investors on Tuesday. KeyCorp analyst M. Sison now expects that the specialty chemicals company will post earnings of $1.27 per share for the quarter, up from their previous forecast of $1.21.
Several other brokerages have also issued reports on RPM. Zacks Investment Research upgraded RPM International from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, January 9th. TheStreet upgraded RPM International from a “c+” rating to a “b-” rating in a research report on Tuesday, December 5th. Finally, Royal Bank of Canada restated a “hold” rating and set a $51.00 target price on shares of RPM International in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $57.86.
RPM International (NYSE:RPM) last issued its quarterly earnings data on Thursday, January 4th. The specialty chemicals company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. RPM International had a return on equity of 25.05% and a net margin of 6.80%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in RPM. Eaton Vance Management purchased a new stake in shares of RPM International in the second quarter valued at approximately $758,000. Riverhead Capital Management LLC boosted its holdings in shares of RPM International by 52.5% in the second quarter. Riverhead Capital Management LLC now owns 7,623 shares of the specialty chemicals company’s stock valued at $416,000 after purchasing an additional 2,623 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of RPM International by 3.3% in the second quarter. Ameriprise Financial Inc. now owns 403,387 shares of the specialty chemicals company’s stock valued at $22,005,000 after purchasing an additional 12,737 shares during the period. Nationwide Fund Advisors boosted its holdings in shares of RPM International by 1.2% in the second quarter. Nationwide Fund Advisors now owns 301,503 shares of the specialty chemicals company’s stock valued at $16,447,000 after purchasing an additional 3,485 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of RPM International by 26.6% in the second quarter. Amalgamated Bank now owns 26,619 shares of the specialty chemicals company’s stock valued at $1,452,000 after purchasing an additional 5,599 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s stock.
In related news, Chairman Frank C. Sullivan sold 35,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,188,489 shares in the company, valued at $62,253,053.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Edward W. Moore sold 2,578 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were 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 owns 98,417 shares of the company’s stock, valued at approximately $5,293,850.43. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, January 16th. This represents a $1.28 annualized dividend and a dividend yield of 2.45%. RPM International’s dividend payout ratio (DPR) is presently 50.59%.
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RPM International Company Profile
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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