Comerica Bank Boosts Stake in RPM International Inc. (RPM)
Comerica Bank boosted its position in RPM International Inc. (NYSE:RPM) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,856 shares of the company’s stock after buying an additional 5,807 shares during the period. Comerica Bank’s holdings in RPM International were worth $5,930,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in RPM. IFP Advisors Inc increased its stake in RPM International by 0.5% in the second quarter. IFP Advisors Inc now owns 5,715 shares of the company’s stock worth $285,000 after buying an additional 29 shares during the last quarter. Advantus Capital Management Inc increased its stake in RPM International by 0.7% in the third quarter. Advantus Capital Management Inc now owns 16,203 shares of the company’s stock worth $870,000 after buying an additional 114 shares during the last quarter. Riverhead Capital Management LLC increased its stake in RPM International by 11.0% in the third quarter. Riverhead Capital Management LLC now owns 4,800 shares of the company’s stock worth $258,000 after buying an additional 477 shares during the last quarter. Buffington Mohr McNeal increased its stake in RPM International by 4.0% in the second quarter. Buffington Mohr McNeal now owns 14,870 shares of the company’s stock worth $743,000 after buying an additional 575 shares during the last quarter. Finally, Hendley & Co. Inc. increased its stake in RPM International by 0.9% in the second quarter. Hendley & Co. Inc. now owns 77,255 shares of the company’s stock worth $3,859,000 after buying an additional 725 shares during the last quarter. 73.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of RPM International Inc. (NYSE:RPM) opened at 52.67 on Friday. The firm’s 50-day moving average price is $52.49 and its 200-day moving average price is $52.29. The firm has a market capitalization of $7.04 billion, a P/E ratio of 32.57 and a beta of 1.38. RPM International Inc. has a 12-month low of $38.83 and a 12-month high of $55.92.
RPM International (NYSE:RPM) last issued its earnings results on Thursday, January 5th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.09. The firm earned $1.19 billion during the quarter. RPM International had a net margin of 4.39% and a return on equity of 26.60%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. Equities analysts predict that RPM International Inc. will post $2.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Monday, January 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, January 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. RPM International’s payout ratio is 76.92%.
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A number of research firms have weighed in on RPM. Zacks Investment Research raised RPM International from a “sell” rating to a “hold” rating in a report on Thursday, January 5th. Evercore ISI began coverage on RPM International in a report on Monday. They set a “buy” rating and a $59.00 price objective on the stock. Finally, TheStreet downgraded RPM International from a “b” rating to a “c+” rating in a report on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. RPM International currently has a consensus rating of “Hold” and an average target price of $58.67.
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, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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