RPM International Inc. (RPM) Shares Gap Down to $50.09
RPM International Inc. (NYSE:RPM) shares gapped down prior to trading on Friday . The stock had previously closed at $49.76, but opened at $50.09. RPM International shares last traded at $51.37, with a volume of 139,535 shares changing hands.
A number of brokerages recently commented on RPM. Zacks Investment Research downgraded shares of RPM International from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Morgan Stanley reaffirmed a “buy” rating on shares of RPM International in a report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. RPM International presently has an average rating of “Hold” and a consensus target price of $49.33.
The stock has a 50 day moving average of $50.23 and a 200 day moving average of $45.94. The stock has a market capitalization of $6.84 billion and a price-to-earnings ratio of 21.11.
RPM International (NYSE:RPM) last announced its earnings results on Wednesday, April 6th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. The company had revenue of $988.60 million for the quarter. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 EPS. On average, analysts forecast that RPM International Inc. will post $2.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Monday, July 18th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, July 14th.
In related news, COO Ronald A. Rice sold 18,822 shares of the company’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $51.15, for a total transaction of $962,745.30. Following the sale, the chief operating officer now directly owns 402,925 shares of the company’s stock, valued at approximately $20,609,613.75. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Several large investors have recently made changes to their positions in the stock. Eagle Asset Management increased its stake in shares of RPM International by 101.6% in the third quarter. Eagle Asset Management now owns 546,932 shares of the company’s stock worth $22,910,000 after buying an additional 275,690 shares in the last quarter. California State Teachers Retirement System increased its stake 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 worth $10,878,000 after buying an additional 3,974 shares in the last quarter. Rhumbline Advisers increased its stake in shares of RPM International by 0.8% in the fourth quarter. Rhumbline Advisers now owns 241,795 shares of the company’s stock worth $10,653,000 after buying an additional 1,943 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of RPM International by 17.5% in the fourth quarter. OppenheimerFunds Inc. now owns 189,718 shares of the company’s stock worth $8,360,000 after buying an additional 28,313 shares in the last quarter. Finally, Alley Co LLC increased its stake 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 worth $2,154,000 after buying an additional 331 shares in the last quarter.
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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