RPM International Inc. (RPM) Shares Gap Up to $49.49
Shares of RPM International Inc. (NYSE:RPM) gapped up before the market opened on Thursday . The stock had previously closed at $49.37, but opened at $49.49. RPM International shares last traded at $50.03, with a volume of 134,223 shares traded.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded RPM International from a “buy” rating to a “hold” rating in a research report on Saturday, April 16th. Morgan Stanley restated a “buy” rating on shares of RPM International in a research report on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. RPM International presently has an average rating of “Hold” and a consensus price target of $49.33.
The stock has a market capitalization of $6.84 billion and a PE ratio of 21.11. The company’s 50-day moving average is $50.23 and its 200-day moving average is $45.94.
RPM International (NYSE:RPM) last issued its earnings results on Wednesday, April 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business earned $988.60 million during the quarter. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS. Analysts anticipate that RPM International Inc. will post $2.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Monday, July 18th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.14%.
In other RPM International news, COO Ronald A. Rice sold 18,822 shares of the business’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $51.15, for a total value of $962,745.30. Following the sale, the chief operating officer now directly owns 402,925 shares in the company, valued at $20,609,613.75. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Several hedge funds have recently modified their holdings of the stock. Tradition Capital Management LLC raised its stake in shares of RPM International by 3.7% in the fourth quarter. Tradition Capital Management LLC now owns 40,710 shares of the company’s stock valued at $1,793,000 after buying an additional 1,440 shares during the last quarter. Alley Co LLC boosted its position in shares of RPM International by 0.7% in the fourth quarter. Alley Co LLC now owns 48,894 shares of the company’s stock valued at $2,154,000 after buying an additional 331 shares during the period. OppenheimerFunds Inc. boosted its position in shares of RPM International by 17.5% in the fourth quarter. OppenheimerFunds Inc. now owns 189,718 shares of the company’s stock valued at $8,360,000 after buying an additional 28,313 shares during the period. Rhumbline Advisers boosted its position in shares of RPM International by 0.8% in the fourth quarter. Rhumbline Advisers now owns 241,795 shares of the company’s stock valued at $10,653,000 after buying an additional 1,943 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of RPM International by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 246,887 shares of the company’s stock valued at $10,878,000 after buying an additional 3,974 shares during the period.
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. The Company operates through two segments, which include industrial segment and consumer segment.
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