RPM International Inc. (RPM) Hits New 12-Month High at $52.54
RPM International Inc. (NYSE:RPM) hit a new 52-week high on Tuesday . The stock traded as high as $52.54 and last traded at $52.41, with a volume of 174,324 shares traded. The stock had previously closed at $51.44.
Several equities research analysts have weighed in on RPM shares. Zacks Investment Research lowered RPM International from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Morgan Stanley reaffirmed a “buy” rating on shares of RPM International in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. RPM International currently has a consensus rating of “Hold” and a consensus price target of $49.33.
The firm has a market cap of $6.98 billion and a P/E ratio of 21.52. The company’s 50-day moving average price is $50.30 and its 200 day moving average price is $46.03.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Monday, July 18th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, July 14th.
In other RPM International news, COO Ronald A. Rice sold 18,822 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $51.15, for a total value of $962,745.30. Following the sale, the chief operating officer now owns 402,925 shares of the company’s stock, valued at approximately $20,609,613.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds have added to or reduced their stakes in RPM. Tradition Capital Management LLC raised its stake in RPM International by 3.7% in the fourth quarter. Tradition Capital Management LLC now owns 40,710 shares of the company’s stock worth $1,793,000 after buying an additional 1,440 shares during the period. Alley Co LLC raised its stake in shares of RPM International by 0.7% in the fourth quarter. Alley Co LLC now owns 48,894 shares of the company’s stock valued at $2,154,000 after buying an additional 331 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of RPM International by 17.5% in the fourth quarter. OppenheimerFunds Inc. now owns 189,718 shares of the company’s stock valued at $8,360,000 after buying an additional 28,313 shares during the last quarter. Rhumbline Advisers raised its stake in shares of RPM International by 0.8% in the fourth quarter. Rhumbline Advisers now owns 241,795 shares of the company’s stock valued at $10,653,000 after buying an additional 1,943 shares during the last quarter. Finally, Eagle Asset Management raised its stake in shares of RPM International by 101.6% in the third quarter. Eagle Asset Management now owns 546,932 shares of the company’s stock valued at $22,910,000 after buying an additional 275,690 shares during the last quarter.
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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