Bank of New York Mellon Corp Has $110.45 Million Stock Holdings in RPM International Inc. $RPM

Bank of New York Mellon Corp lessened its position in RPM International Inc. (NYSE:RPM) by 3.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,111,189 shares of the specialty chemicals company’s stock after selling 37,975 shares during the period. Bank of New York Mellon Corp’s holdings in RPM International were worth $110,452,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of RPM. Gamco Investors INC. ET AL purchased a new stake in RPM International in the 2nd quarter valued at $402,000. Gabelli Funds LLC bought a new position in shares of RPM International during the second quarter valued at about $1,534,000. California State Teachers Retirement System lifted its position in shares of RPM International by 21.7% during the second quarter. California State Teachers Retirement System now owns 355,934 shares of the specialty chemicals company’s stock valued at $39,096,000 after purchasing an additional 63,532 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in RPM International by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock worth $37,260,000 after purchasing an additional 888 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in RPM International by 5.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,031 shares of the specialty chemicals company’s stock worth $1,321,000 after purchasing an additional 594 shares during the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RPM has been the subject of several analyst reports. Wall Street Zen lowered shares of RPM International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. BMO Capital Markets cut their target price on RPM International from $148.00 to $143.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Mizuho reduced their target price on RPM International from $120.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, March 23rd. Bank of America decreased their price target on RPM International from $128.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Finally, UBS Group upgraded RPM International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $118.00 to $130.00 in a report on Wednesday, May 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, RPM International presently has an average rating of “Moderate Buy” and a consensus target price of $127.00.

RPM International Trading Down 3.3%

NYSE:RPM opened at $101.59 on Tuesday. RPM International Inc. has a 12 month low of $92.92 and a 12 month high of $129.12. The company has a current ratio of 2.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $105.09 and its 200 day moving average is $106.27. The stock has a market capitalization of $12.97 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04.

RPM International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, July 14th. RPM International’s payout ratio is currently 41.62%.

About RPM International

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.