Gabelli Comments on RPM International Inc.’s FY2018 Earnings (RPM)
RPM International Inc. (NYSE:RPM) – Research analysts at Gabelli decreased their FY2018 earnings per share (EPS) estimates for RPM International in a research report issued on Wednesday. Gabelli analyst R. Morbelli now forecasts that the specialty chemicals company will post earnings per share of $2.80 for the year, down from their previous forecast of $2.85. Gabelli also issued estimates for RPM International’s FY2019 earnings at $3.15 EPS, FY2020 earnings at $3.50 EPS and FY2021 earnings at $3.90 EPS.
RPM International (NYSE:RPM) last released its quarterly earnings results on Wednesday, October 4th. The specialty chemicals company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. RPM International had a net margin of 3.67% and a return on equity of 24.73%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share.
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A number of other research firms have also recently weighed in on RPM. Bank of America Corporation lowered their price target on shares of RPM International from $58.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 25th. BidaskClub cut shares of RPM International from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of RPM International from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Wellington Shields raised shares of RPM International from a “hold” rating to an “accumulate” rating in a research note on Friday, August 18th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $56.00 price target on shares of RPM International in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $57.00.
Shares of RPM International (NYSE:RPM) traded up 0.68% during mid-day trading on Thursday, hitting $51.86. 444,860 shares of the stock traded hands. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 37.99 and a beta of 1.55. RPM International has a 12-month low of $46.25 and a 12-month high of $56.48. The firm’s 50 day moving average price is $50.31 and its 200 day moving average price is $52.40.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.48%. This is a boost from RPM International’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, October 13th. RPM International’s dividend payout ratio is presently 88.89%.
In related news, SVP Edward W. Moore sold 10,568 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $52.04, for a total value of $549,958.72. Following the sale, the senior vice president now directly owns 92,549 shares of the company’s stock, valued at approximately $4,816,249.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of RPM International by 0.4% during the 2nd quarter. State Street Corp now owns 6,557,057 shares of the specialty chemicals company’s stock worth $357,688,000 after purchasing an additional 23,088 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of RPM International by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,632,118 shares of the specialty chemicals company’s stock worth $89,031,000 after purchasing an additional 11,882 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of RPM International by 9.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,007,328 shares of the specialty chemicals company’s stock worth $54,950,000 after purchasing an additional 87,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of RPM International by 9.2% during the 1st quarter. Geode Capital Management LLC now owns 983,053 shares of the specialty chemicals company’s stock worth $54,097,000 after purchasing an additional 82,981 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of RPM International by 17.6% during the 2nd quarter. GW&K Investment Management LLC now owns 887,994 shares of the specialty chemicals company’s stock worth $48,440,000 after purchasing an additional 133,104 shares during the last quarter. 73.49% of the stock is currently 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, 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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