RPM International Inc. (RPM) Releases FY17 Earnings Guidance
RPM International Inc. (NYSE:RPM) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $2.68-2.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.77.
A number of research firms have recently weighed in on RPM. JPMorgan Chase & Co. restated a hold rating on shares of RPM International in a report on Monday, July 18th. Zacks Investment Research downgraded shares of RPM International from a hold rating to a sell rating in a report on Tuesday, June 14th. Wells Fargo & Co. restated a buy rating on shares of RPM International in a report on Wednesday. Morgan Stanley restated a buy rating on shares of RPM International in a report on Thursday, June 16th. Finally, Seaport Global Securities downgraded shares of RPM International from an accumulate rating to a neutral rating and boosted their target price for the stock from $55.00 to $57.00 in a report on Wednesday, August 10th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. RPM International currently has a consensus rating of Hold and an average target price of $53.25.
RPM International Inc. (NYSE:RPM) opened at 50.21 on Friday. The company has a market capitalization of $6.68 billion, a P/E ratio of 19.06 and a beta of 1.38. The company’s 50-day moving average is $53.37 and its 200 day moving average is $51.32. RPM International Inc. has a one year low of $36.78 and a one year high of $55.92.
RPM International (NYSE:RPM) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The firm 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 revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, equities analysts anticipate that RPM International Inc. will post $2.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from RPM International’s previous quarterly dividend of $0.28. RPM International’s payout ratio is 41.83%.
In related news, SVP Edward W. Moore sold 22,547 shares of RPM International 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 completion of the transaction, the senior vice president now owns 88,097 shares in the company, valued at $4,748,428.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Frank C. Sullivan sold 60,000 shares of RPM International stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $53.56, for a total transaction of $3,213,600.00. Following the completion of the transaction, the chairman now owns 1,144,622 shares of the company’s stock, 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 and other institutional investors have recently modified their holdings of RPM. Teachers Retirement System of The State of Kentucky increased its position in shares of RPM International by 2.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 31,500 shares of the company’s stock worth $1,573,000 after buying an additional 700 shares in the last quarter. US Bancorp DE increased its position in shares of RPM International by 2.3% in the second quarter. US Bancorp DE now owns 38,057 shares of the company’s stock worth $1,901,000 after buying an additional 871 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of RPM International by 1.4% in the second quarter. Teachers Advisors Inc. now owns 104,503 shares of the company’s stock worth $5,220,000 after buying an additional 1,460 shares in the last quarter. Comerica Bank increased its position in shares of RPM International by 1.9% in the second quarter. Comerica Bank now owns 106,330 shares of the company’s stock worth $5,838,000 after buying an additional 1,978 shares in the last quarter. Finally, Keeley Asset Management Corp increased its position in shares of RPM International by 11.5% in the second quarter. Keeley Asset Management Corp now owns 30,755 shares of the company’s stock worth $1,536,000 after buying an additional 3,170 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.
RPM International Company Profile
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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