Wells Fargo & Co. Reiterates Buy Rating for RPM International Inc. (RPM)
RPM International Inc. (NYSE:RPM)‘s stock had its “buy” rating restated by analysts at Wells Fargo & Co. in a note issued to investors on Wednesday.
Other research analysts have also issued research reports about the stock. Wellington Shields lowered shares of RPM International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Zacks Investment Research lowered shares of RPM International from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. reissued a “hold” rating on shares of RPM International in a research note on Monday, July 18th. Seaport Global Securities lowered shares of RPM International from an “accumulate” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $57.00 in a research note on Wednesday, August 10th. Finally, Morgan Stanley reissued a “buy” rating on shares of RPM International in a research note on Thursday, June 16th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. RPM International has an average rating of “Hold” and a consensus target price of $53.25.
RPM International (NYSE:RPM) traded down 4.02% during mid-day trading on Wednesday, reaching $50.61. 1,789,592 shares of the company’s stock traded hands. RPM International has a 52 week low of $36.78 and a 52 week high of $55.92. The stock’s 50 day moving average is $53.58 and its 200-day moving average is $51.33. The stock has a market capitalization of $6.74 billion, a PE ratio of 19.21 and a beta of 1.38.
RPM International (NYSE:RPM) last announced its earnings results on Wednesday, October 5th. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The company earned $1.25 billion during the quarter. RPM International had a net margin of 7.37% and a return on equity of 28.11%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. On average, equities analysts anticipate that RPM International will post $2.77 EPS for the current year.
In related news, SVP Edward W. Moore sold 22,547 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $53.90, for a total value of $1,215,283.30. Following the sale, the senior vice president now owns 88,097 shares of the company’s stock, valued at $4,748,428.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Frank C. Sullivan sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $53.56, for a total transaction of $3,213,600.00. Following the completion of the sale, the chairman now directly owns 1,144,622 shares in the company, valued at approximately $61,305,954.32. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of RPM. Aperio Group LLC boosted its stake in shares of RPM International by 18.7% in the first quarter. Aperio Group LLC now owns 24,190 shares of the company’s stock valued at $1,145,000 after buying an additional 3,804 shares during the period. IFP Advisors Inc boosted its stake in RPM International by 146.4% in the first quarter. IFP Advisors Inc now owns 5,686 shares of the company’s stock worth $269,000 after buying an additional 3,378 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in RPM International by 17.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 106,815 shares of the company’s stock worth $5,056,000 after buying an additional 15,605 shares during the last quarter. Teachers Advisors Inc. boosted its stake in RPM International by 5.9% in the first quarter. Teachers Advisors Inc. now owns 103,043 shares of the company’s stock worth $4,877,000 after buying an additional 5,697 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in RPM International by 25.3% in the first quarter. TimesSquare Capital Management LLC now owns 4,131,060 shares of the company’s stock worth $195,523,000 after buying an additional 833,090 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.
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. The Company operates through two segments, which include industrial segment and consumer segment.
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