RPM International Inc. (RPM) to Issue Quarterly Dividend of $0.30 on October 31st
RPM International Inc. (NYSE:RPM) declared a quarterly dividend on Thursday, October 6th. Shareholders of record on Monday, October 17th will be paid a dividend of 0.30 per share on Monday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, October 13th. This is an increase from RPM International’s previous quarterly dividend of $0.28.
RPM International (NYSE:RPM) opened at 48.33 on Wednesday. The firm’s 50 day moving average price is $52.89 and its 200 day moving average price is $51.41. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 17.73 and a beta of 1.38. RPM International has a one year low of $36.78 and a one year high of $55.92.
RPM International (NYSE:RPM) last posted its earnings results on Wednesday, October 5th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The business had revenue of $1.25 billion for the quarter. RPM International had a net margin of 7.62% and a return on equity of 27.52%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities analysts forecast that RPM International will post $2.76 earnings per share for the current year.
Several equities analysts recently weighed in on the stock. Seaport Global Securities lowered shares of RPM International from an “accumulate” rating to a “neutral” rating and lifted their target price for the company from $55.00 to $57.00 in a report on Wednesday, August 10th. Zacks Investment Research lowered shares of RPM International from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Wells Fargo & Co. restated a “buy” rating on shares of RPM International in a report on Wednesday, October 5th. JPMorgan Chase & Co. restated a “hold” rating on shares of RPM International in a report on Monday, July 18th. Finally, Wellington Shields lowered shares of RPM International from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $54.67.
In other news, Chairman Frank C. Sullivan sold 60,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now owns 1,144,622 shares of the company’s stock, valued at approximately $61,305,954.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Barry Slifstein sold 1,000 shares of the business’s stock in a transaction dated 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. 2.20% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in RPM. Teachers Retirement System of The State of Kentucky increased its stake in 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 valued at $1,573,000 after buying an additional 700 shares during the last quarter. Paloma Partners Management Co bought a new stake in RPM International during the second quarter valued at $1,784,000. Panagora Asset Management Inc. increased its stake in RPM International by 2,225.6% in the second quarter. Panagora Asset Management Inc. now owns 119,396 shares of the company’s stock valued at $5,964,000 after buying an additional 114,262 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in RPM International by 3.4% in the second quarter. Parametric Portfolio Associates LLC now owns 166,332 shares of the company’s stock valued at $8,308,000 after buying an additional 5,450 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in RPM International by 1.8% in the second quarter. Janus Capital Management LLC now owns 274,500 shares of the company’s stock valued at $13,711,000 after buying an additional 4,800 shares during the last quarter. 72.08% of the stock is owned by 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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