RPM International Inc. (NYSE:RPM) – Analysts at KeyCorp boosted their Q4 2018 EPS estimates for shares of RPM International in a research report issued to clients and investors on Tuesday. KeyCorp analyst M. Sison now forecasts 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 analysts have also weighed in on RPM. Zacks Investment Research raised RPM International from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, January 9th. TheStreet lowered RPM International from a “b” rating to a “c+” rating in a report on Wednesday, October 4th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $51.00 price objective on shares of RPM International in a report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. RPM International currently has a consensus rating of “Hold” and a consensus price target of $57.86.
RPM International (NYSE:RPM) last released its earnings results on Thursday, January 4th. The specialty chemicals company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $0.52 EPS. The company’s revenue was up 10.5% on a year-over-year basis.
A number of hedge funds have recently made changes to their positions in the stock. Empire Life Investments Inc. bought a new position in RPM International in the 3rd quarter valued at $29,293,000. TimesSquare Capital Management LLC raised its position in RPM International by 53.9% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,123,600 shares of the specialty chemicals company’s stock valued at $57,686,000 after purchasing an additional 393,500 shares during the last quarter. Cramer Rosenthal Mcglynn LLC raised its position in RPM International by 28.9% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 667,874 shares of the specialty chemicals company’s stock valued at $36,433,000 after purchasing an additional 149,861 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in RPM International in the 2nd quarter valued at $7,218,000. Finally, Lord Abbett & CO. LLC raised its position in RPM International by 9.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,007,328 shares of the specialty chemicals company’s stock valued at $54,950,000 after purchasing an additional 87,679 shares during the last quarter. 75.25% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Frank C. Sullivan sold 35,000 shares of the business’s stock in a transaction 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 sale, the chairman now owns 1,188,489 shares of the company’s stock, valued at approximately $62,253,053.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Edward W. Moore sold 2,578 shares of the business’s stock in a transaction 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 directly owns 98,417 shares in the company, 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, January 16th. RPM International’s dividend payout ratio is 49.42%.
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).
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.