SeaBridge Investment Advisors LLC Has $7.631 Million Stake in RPM International Inc. (RPM)
SeaBridge Investment Advisors LLC lowered its position in shares of RPM International Inc. (NYSE:RPM) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,673 shares of the specialty chemicals company’s stock after selling 3,867 shares during the period. RPM International makes up approximately 1.8% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 10th largest position. SeaBridge Investment Advisors LLC’s holdings in RPM International were worth $7,631,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Huntington National Bank increased its stake in RPM International by 42.2% in the third quarter. Huntington National Bank now owns 19,360 shares of the specialty chemicals company’s stock valued at $1,040,000 after buying an additional 5,743 shares during the last quarter. Comerica Bank increased its stake in RPM International by 5.4% in the fourth quarter. Comerica Bank now owns 112,856 shares of the specialty chemicals company’s stock valued at $5,930,000 after buying an additional 5,807 shares during the last quarter. Cigna Investments Inc. New acquired a new stake in RPM International during the fourth quarter valued at about $256,000. Ferguson Wellman Capital Management Inc. acquired a new stake in RPM International during the third quarter valued at about $13,261,000. Finally, California State Teachers Retirement System increased its stake in RPM International by 0.8% in the third quarter. California State Teachers Retirement System now owns 278,130 shares of the specialty chemicals company’s stock valued at $14,941,000 after buying an additional 2,300 shares during the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.
Shares of RPM International Inc. (NYSE:RPM) traded down 0.10% during trading on Tuesday, reaching $50.51. The company’s stock had a trading volume of 664,868 shares. The stock’s 50 day moving average is $53.80 and its 200 day moving average is $52.26. RPM International Inc. has a one year low of $46.25 and a one year high of $56.40. The firm has a market cap of $6.75 billion, a P/E ratio of 32.34 and a beta of 1.38.
RPM International (NYSE:RPM) last announced its earnings results on Thursday, April 6th. The specialty chemicals company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. RPM International had a net margin of 4.39% and a return on equity of 26.60%. RPM International’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 EPS. On average, equities analysts forecast that RPM International Inc. will post $2.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.38%. RPM International’s dividend payout ratio is presently 76.92%.
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RPM has been the subject of several research reports. TheStreet raised shares of RPM International from a “c+” rating to a “b-” rating in a research report on Thursday, March 16th. Zacks Investment Research downgraded shares of RPM International from a “hold” rating to a “sell” rating in a research report on Tuesday, February 7th. Northcoast Research raised shares of RPM International from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Friday, February 17th. Finally, Evercore ISI initiated coverage on shares of RPM International in a research report on Monday, February 13th. They issued a “buy” rating and a $59.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $59.50.
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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