RPM International Inc. (RPM) Sets New 1-Year High at $55.28
RPM International Inc. (NYSE:RPM)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $55.28 and last traded at $54.93, with a volume of 149,068 shares changing hands. The stock had previously closed at $54.55.
Several equities analysts have recently weighed in on the stock. Wellington Shields lowered shares of RPM International from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Zacks Investment Research lowered shares of RPM International from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of RPM International in a report on Monday, July 18th. Seaport Global Securities lowered shares of RPM International from an “accumulate” rating to a “neutral” rating and upped their price objective for the company from $55.00 to $57.00 in a report on Wednesday, August 10th. Finally, Morgan Stanley reiterated a “buy” rating on shares of RPM International in a report on Thursday, June 16th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $53.25.
The firm has a market cap of $7.28 billion and a P/E ratio of 20.76. The firm has a 50 day moving average price of $53.02 and a 200-day moving average price of $48.80.
RPM International (NYSE:RPM) last issued its earnings results on Thursday, July 28th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. The business earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business earned $0.94 EPS. RPM International’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts expect that RPM International Inc. will post $2.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Monday, July 18th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, July 14th.
In other RPM International news, Chairman Frank C. Sullivan sold 60,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $53.56, for a total value of $3,213,600.00. Following the sale, the chairman now owns 1,144,622 shares of the company’s stock, valued at approximately $61,305,954.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Barry Slifstein sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $54.27, for a total transaction of $54,270.00. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in RPM International stock. Airain ltd purchased a new position in RPM International Inc. (NYSE:RPM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,430 shares of the company’s stock, valued at approximately $1,297,000.
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.