Bank of New York Mellon Corp Sells 43,851 Shares of RPM International Inc. $RPM

Bank of New York Mellon Corp lowered its stake in shares of RPM International Inc. (NYSE:RPM) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,292,836 shares of the specialty chemicals company’s stock after selling 43,851 shares during the quarter. Bank of New York Mellon Corp owned 1.01% of RPM International worth $152,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RPM. iA Global Asset Management Inc. boosted its stake in shares of RPM International by 55.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 3,620 shares of the specialty chemicals company’s stock worth $427,000 after purchasing an additional 1,292 shares during the period. Covestor Ltd raised its position in RPM International by 19.3% in the 3rd quarter. Covestor Ltd now owns 784 shares of the specialty chemicals company’s stock worth $92,000 after purchasing an additional 127 shares during the period. Fairway Wealth LLC lifted its stake in RPM International by 4.4% in the third quarter. Fairway Wealth LLC now owns 224,336 shares of the specialty chemicals company’s stock worth $26,445,000 after purchasing an additional 9,409 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of RPM International during the third quarter valued at approximately $30,000. Finally, Florida Trust Wealth Management Co bought a new position in shares of RPM International during the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Insider Transactions at RPM International

In other RPM International news, VP Timothy R. Kinser sold 3,441 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $110.31, for a total value of $379,576.71. Following the completion of the transaction, the vice president directly owned 21,248 shares in the company, valued at approximately $2,343,866.88. The trade was a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

RPM International Stock Down 0.8%

NYSE:RPM opened at $106.90 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.22 and a quick ratio of 1.45. RPM International Inc. has a 1-year low of $95.28 and a 1-year high of $129.12. The company has a 50-day moving average of $107.02 and a 200 day moving average of $113.34. The firm has a market cap of $13.69 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.59 and a beta of 1.11.

RPM International (NYSE:RPM) last posted its earnings results on Thursday, January 8th. The specialty chemicals company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.21). RPM International had a net margin of 8.79% and a return on equity of 22.49%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business posted $1.39 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that RPM International Inc. will post 5.5 EPS for the current fiscal year.

RPM International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $2.16 dividend on an annualized basis and a yield of 2.0%. RPM International’s dividend payout ratio (DPR) is presently 41.62%.

Analyst Upgrades and Downgrades

RPM has been the subject of a number of research analyst reports. Bank of America raised RPM International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $129.00 in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of RPM International in a research report on Monday, December 29th. Citigroup lowered their target price on shares of RPM International from $136.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. BMO Capital Markets reduced their price target on shares of RPM International from $152.00 to $149.00 and set an “outperform” rating on the stock in a research note on Thursday, January 8th. Finally, Mizuho set a $120.00 price objective on shares of RPM International in a research report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.75.

RPM International Profile

RPM International Inc is a global holding company whose subsidiaries specialize in the manufacture and marketing of high-performance coatings, sealants, building materials, and specialty chemicals. Through its two principal operating segments—Performance Coatings and Industrial Coatings—RPM serves a diverse range of end markets, including construction, consumer products, industrial maintenance, and specialty applications.

The company’s Performance Coatings segment offers a broad portfolio of architectural coatings, waterproofing systems, and specialty building products used by contractors, builders, and homeowners.