Dorsey Wright & Associates purchased a new stake in shares of RPM International Inc. (NYSE:RPM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 78,878 shares of the specialty chemicals company’s stock, valued at approximately $5,122,000. Dorsey Wright & Associates owned about 0.06% of RPM International at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board raised its stake in shares of RPM International by 277.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 21,500 shares of the specialty chemicals company’s stock valued at $1,254,000 after purchasing an additional 15,800 shares during the period. Cozad Asset Management Inc. bought a new stake in shares of RPM International during the 2nd quarter valued at $2,433,000. Elefante Mark B bought a new stake in shares of RPM International during the 2nd quarter valued at $213,000. Madison Investment Holdings Inc. raised its stake in shares of RPM International by 0.4% during the 2nd quarter. Madison Investment Holdings Inc. now owns 452,801 shares of the specialty chemicals company’s stock valued at $26,407,000 after purchasing an additional 1,973 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of RPM International by 22,393.9% during the 2nd quarter. Captrust Financial Advisors now owns 11,022 shares of the specialty chemicals company’s stock valued at $643,000 after purchasing an additional 10,973 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE RPM opened at $59.06 on Friday. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 2.34 and a beta of 1.43. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.63 and a current ratio of 2.45. RPM International Inc. has a twelve month low of $46.36 and a twelve month high of $68.13.
RPM International (NYSE:RPM) last announced its earnings results on Wednesday, October 3rd. The specialty chemicals company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.10). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. RPM International had a return on equity of 23.82% and a net margin of 6.35%. RPM International’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. Research analysts forecast that RPM International Inc. will post 3.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th will be paid a $0.35 dividend. This is a positive change from RPM International’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Monday, October 15th. RPM International’s dividend payout ratio is currently 43.84%.
A number of analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on RPM International from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. ValuEngine upgraded RPM International from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Morgan Stanley reiterated a “buy” rating on shares of RPM International in a research note on Monday, October 8th. Zacks Investment Research upgraded RPM International from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Northcoast Research lowered RPM International from a “buy” rating to a “neutral” rating in a research note on Friday, July 20th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. RPM International has a consensus rating of “Hold” and a consensus target price of $60.00.
In other news, SVP Edward W. Moore sold 4,168 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $61.91, for a total transaction of $258,040.88. Following the transaction, the senior vice president now directly owns 48,931 shares in the company, valued at approximately $3,029,318.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirkland B. Andrews acquired 2,000 shares of RPM International stock in a transaction dated Friday, October 5th. The shares were purchased at an average price of $60.21 per share, for a total transaction of $120,420.00. Following the completion of the transaction, the director now directly owns 3,800 shares in the company, valued at approximately $228,798. The disclosure for this purchase can be found here. Insiders acquired a total of 15,100 shares of company stock worth $943,892 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.
RPM International Profile
RPM International Inc manufactures and sells specialty chemicals for the 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, and flooring and in-plant glazing solutions; solutions for fire stopping and intumescent steel coating, and the manufacturing industry; polymer flooring systems; and fiberglass reinforced plastic gratings and shapes.
Featured Article: Stock Symbols, CUSIP and Other Stock Identifiers
Want to see what other hedge funds are holding RPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RPM International Inc. (NYSE:RPM).
Receive News & Ratings for RPM International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPM International and related companies with MarketBeat.com's FREE daily email newsletter.