The Manufacturers Life Insurance Company Purchases Shares of 76,547 RPM International Inc. $RPM

The Manufacturers Life Insurance Company acquired a new position in RPM International Inc. (NYSE:RPM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 76,547 shares of the specialty chemicals company’s stock, valued at approximately $8,508,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Gamco Investors INC. ET AL purchased a new stake in RPM International in the second quarter worth $402,000. Gabelli Funds LLC purchased a new position in RPM International during the 2nd quarter valued at $1,534,000. California State Teachers Retirement System raised its holdings in RPM International by 21.7% in the 2nd quarter. California State Teachers Retirement System now owns 355,934 shares of the specialty chemicals company’s stock worth $39,096,000 after purchasing an additional 63,532 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of RPM International by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock worth $37,260,000 after purchasing an additional 888 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of RPM International by 5.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,031 shares of the specialty chemicals company’s stock worth $1,321,000 after purchasing an additional 594 shares during the period. Institutional investors own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

RPM has been the topic of several research reports. Wall Street Zen cut RPM International from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. BMO Capital Markets raised their target price on RPM International from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. UBS Group upgraded RPM International from a “neutral” rating to a “buy” rating and lifted their price target for the company from $118.00 to $130.00 in a research report on Wednesday, May 27th. Bank of America upped their price target on RPM International from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley decreased their price objective on RPM International from $121.00 to $117.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.00.

RPM International Price Performance

Shares of NYSE RPM opened at $106.79 on Friday. RPM International Inc. has a fifty-two week low of $92.92 and a fifty-two week high of $128.51. The company has a 50 day simple moving average of $109.11 and a two-hundred day simple moving average of $106.51. The company has a market capitalization of $13.62 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 2.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.68.

RPM International (NYSE:RPM) last issued its quarterly earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. RPM International had a return on equity of 22.45% and a net margin of 8.41%.The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 EPS. Analysts expect that RPM International Inc. will post 6 EPS for the current fiscal year.

RPM International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, July 14th. RPM International’s dividend payout ratio is currently 41.86%.

RPM International Company Profile

RPM International Inc is a global holding company whose subsidiaries specialize in the manufacture and marketing of high-performance coatings, sealants, building materials, and specialty chemicals. Through its two principal operating segments—Performance Coatings and Industrial Coatings—RPM serves a diverse range of end markets, including construction, consumer products, industrial maintenance, and specialty applications.

The company’s Performance Coatings segment offers a broad portfolio of architectural coatings, waterproofing systems, and specialty building products used by contractors, builders, and homeowners.