Tradition Capital Management LLC Sells 22,727 Shares of RPM International Inc. (RPM)
Tradition Capital Management LLC decreased its stake in shares of RPM International Inc. (NYSE:RPM) by 82.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,915 shares of the specialty chemicals company’s stock after selling 22,727 shares during the quarter. Tradition Capital Management LLC’s holdings in RPM International were worth $285,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Coastline Trust Co grew its holdings in shares of RPM International by 2.3% during the fourth quarter. Coastline Trust Co now owns 16,385 shares of the specialty chemicals company’s stock valued at $963,000 after purchasing an additional 370 shares during the last quarter. BTIM Corp. grew its holdings in shares of RPM International by 10.1% during the fourth quarter. BTIM Corp. now owns 323,085 shares of the specialty chemicals company’s stock valued at $18,991,000 after purchasing an additional 29,625 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of RPM International by 16.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,450 shares of the specialty chemicals company’s stock valued at $1,614,000 after purchasing an additional 3,900 shares during the last quarter. Tributary Capital Management LLC bought a new position in shares of RPM International during the fourth quarter valued at approximately $72,000. Finally, Strs Ohio bought a new position in shares of RPM International during the fourth quarter valued at approximately $422,000. 77.45% of the stock is owned by institutional investors.
Several research firms have recently commented on RPM. TheStreet lowered RPM International from a “b-” rating to a “c” rating in a report on Friday, April 5th. Zacks Investment Research downgraded RPM International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 29th. JPMorgan Chase & Co. upgraded RPM International from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $55.00 in a research report on Monday, April 8th. ValuEngine downgraded RPM International from a “buy” rating to a “hold” rating in a research report on Monday. Finally, BMO Capital Markets set a $71.00 price objective on RPM International and gave the stock a “buy” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.57.
RPM International (NYSE:RPM) last issued its quarterly earnings data on Thursday, April 4th. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. RPM International had a return on equity of 21.39% and a net margin of 3.96%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. Sell-side analysts forecast that RPM International Inc. will post 2.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $1.40 annualized dividend and a dividend yield of 2.45%. RPM International’s dividend payout ratio is presently 47.95%.
About RPM International
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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