Short Interest in RPM International Inc. (RPM) Drops By 36.8%
RPM International Inc. (NYSE:RPM) was the recipient of a large decrease in short interest during the month of September. As of September 28th, there was short interest totalling 2,633,587 shares, a decrease of 36.8% from the September 14th total of 4,168,341 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily volume of 1,124,375 shares, the days-to-cover ratio is presently 2.3 days.
In other RPM International news, Director Robert Livingston purchased 5,000 shares of RPM International stock in a transaction dated Friday, August 17th. The stock was purchased at an average price of $64.06 per share, with a total value of $320,300.00. Following the transaction, the director now directly owns 7,150 shares of the company’s stock, valued at $458,029. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director John M. Ballbach purchased 8,100 shares of RPM International stock in a transaction dated Monday, July 23rd. The shares were acquired at an average cost of $62.12 per share, with a total value of $503,172.00. Following the transaction, the director now directly owns 8,100 shares in the company, valued at $503,172. The disclosure for this purchase can be found here. Insiders have bought a total of 18,460 shares of company stock valued at $1,143,913 in the last ninety days. Insiders own 1.80% of the company’s stock.
Several large investors have recently made changes to their positions in RPM. Xact Kapitalforvaltning AB grew its stake in shares of RPM International by 70.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 17,432 shares of the specialty chemicals company’s stock valued at $831,000 after acquiring an additional 7,200 shares during the period. Amalgamated Bank grew its stake in shares of RPM International by 5.8% during the 1st quarter. Amalgamated Bank now owns 29,135 shares of the specialty chemicals company’s stock valued at $1,389,000 after acquiring an additional 1,605 shares during the period. Winfield Associates Inc. bought a new position in shares of RPM International during the 2nd quarter valued at approximately $204,000. Raymond James Trust N.A. grew its stake in shares of RPM International by 62.7% during the 2nd quarter. Raymond James Trust N.A. now owns 16,311 shares of the specialty chemicals company’s stock valued at $951,000 after acquiring an additional 6,286 shares during the period. Finally, Oakbrook Investments LLC grew its stake in shares of RPM International by 151.5% during the 2nd quarter. Oakbrook Investments LLC now owns 12,450 shares of the specialty chemicals company’s stock valued at $726,000 after acquiring an additional 7,500 shares during the period. Institutional investors own 79.99% of the company’s stock.
RPM International (NYSE:RPM) last announced its quarterly earnings data on Wednesday, October 3rd. The specialty chemicals company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.10). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. RPM International had a net margin of 6.35% and a return on equity of 23.82%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. On average, sell-side analysts expect that RPM International will post 3.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Tuesday, October 16th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, October 15th. This is an increase from RPM International’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%. RPM International’s payout ratio is 47.95%.
RPM has been the subject of several research reports. Zacks Investment Research lowered shares of RPM International from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Bank of America raised shares of RPM International from a “neutral” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Wednesday, July 18th. Morgan Stanley set a $70.00 price target on shares of RPM International and gave the company an “overweight” rating in a research report on Friday, July 20th. Vertical Research lowered shares of RPM International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, ValuEngine raised shares of RPM International from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $60.00.
RPM International Company Profile
RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. Its Industrial segment offers waterproofing, coatings, and institutional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance and related services; sealing and bonding, and flooring and in-plant glazing solutions; solutions for fire stopping and intumescent steel coating, and the manufacturing industry; polymer flooring systems; and fiberglass reinforced plastic gratings and shapes.
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