RPM International Inc. (RPM) Hits New 52-Week High at $55.28
RPM International Inc. (NYSE:RPM) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.28 and last traded at $54.93, with a volume of 149,068 shares changing hands. The stock had previously closed at $54.55.
A number of brokerages have recently weighed in on RPM. Zacks Investment Research raised shares of RPM International from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, August 2nd. Seaport Global Securities lowered shares of RPM International from an “accumulate” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $57.00 in a research note on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of RPM International in a research note on Monday, July 18th. Morgan Stanley reaffirmed a “buy” rating on shares of RPM International in a research note on Thursday, June 16th. Finally, Wellington Shields lowered shares of RPM International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. RPM International has a consensus rating of “Hold” and a consensus target price of $53.25.
The firm has a market capitalization of $7.33 billion and a price-to-earnings ratio of 20.90. The company’s 50 day moving average is $52.82 and its 200-day moving average is $48.64.
RPM International (NYSE:RPM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.12. The business earned $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company posted $0.94 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that RPM International Inc. will post $2.77 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Monday, July 18th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Thursday, July 14th.
In related news, SVP Edward W. Moore sold 22,547 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $53.90, for a total transaction of $1,215,283.30. Following the completion of the sale, the senior vice president now owns 88,097 shares in the company, valued at approximately $4,748,428.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Matthew T. Ratajczak sold 4,152 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $54.04, for a total transaction of $224,374.08. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in RPM International stock. Airain ltd bought a new position in RPM International Inc. (NYSE:RPM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,430 shares of the company’s stock, valued at approximately $1,297,000.
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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