RPM International (NYSE:RPM) Stock Gets Price Target Reduction from KeyCorp

RPM International (NYSE:RPM) had its price target reduced by KeyCorp from $123.00 to $117.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other brokerages also recently issued reports on RPM. Morgan Stanley cut their price objective on shares of RPM International from $117.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. UBS Group decreased their target price on shares of RPM International from $142.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Citigroup lowered their target price on shares of RPM International from $128.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. BMO Capital Markets raised their target price on shares of RPM International from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada cut their price target on shares of RPM International from $128.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, RPM International has a consensus rating of “Moderate Buy” and a consensus target price of $122.85.

RPM International Stock Performance

Shares of RPM International stock opened at $97.70 on Friday. The company has a market capitalization of $12.46 billion, a PE ratio of 18.09, a P/E/G ratio of 1.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 1.76. The company has a 50-day simple moving average of $104.94 and a two-hundred day simple moving average of $104.66. RPM International has a one year low of $92.92 and a one year high of $121.78.

RPM International (NYSE:RPM) last released its quarterly earnings results on Tuesday, October 6th. The specialty chemicals company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.95 by $0.03. RPM International had a net margin of 8.66% and a return on equity of 22.03%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts expect that RPM International will post 5.96 EPS for the current fiscal year.

RPM International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, October 20th will be issued a $0.57 dividend. This is a boost from RPM International’s previous quarterly dividend of $0.54. This represents a $2.28 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, October 20th. RPM International’s dividend payout ratio is 40.00%.

Institutional Investors Weigh In On RPM International

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of RPM International by 8.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,798 shares of the specialty chemicals company’s stock valued at $276,000 after purchasing an additional 209 shares during the last quarter. CoreCap Advisors LLC boosted its stake in RPM International by 468.4% in the 3rd quarter. CoreCap Advisors LLC now owns 2,899 shares of the specialty chemicals company’s stock worth $286,000 after purchasing an additional 2,389 shares in the last quarter. Steph & Co. acquired a new stake in RPM International in the 3rd quarter worth approximately $83,000. Benedict Financial Advisors Inc. grew its position in RPM International by 0.8% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 25,633 shares of the specialty chemicals company’s stock worth $2,529,000 after purchasing an additional 197 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in RPM International by 119.2% during the 3rd quarter. Versant Capital Management Inc now owns 2,302 shares of the specialty chemicals company’s stock worth $227,000 after purchasing an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

More RPM International News

Here are the key news stories impacting RPM International this week:

• Positive Sentiment: RPM raised its quarterly dividend 5.6% to $0.57 per share, or $2.28 annually, representing a 2.3% yield. The dividend is payable October 30 to shareholders of record October 20, signaling continued confidence in cash generation. RPM International Boosts Dividend by 5.6%
• Positive Sentiment: Despite lowering its target from $123 to $117, KeyCorp maintained an “overweight” rating. Deutsche Bank also retained a “buy” rating after reducing its target from $126 to $115, leaving analysts’ targets well above the recent trading level. KeyCorp RPM International Price Target
• Positive Sentiment: Recent operating results provided support: RPM exceeded quarterly EPS estimates, revenue rose 4.8% year over year to $2.22 billion, and Evercore ISI and BMO Capital maintained buy-equivalent views. RPM Sales Rise 4.8%
• Neutral Sentiment: RPM announced the election of Jeffrey D. Rowe to its board of directors. The appointment may strengthen board expertise, but no immediate financial impact was disclosed. RPM Announces Election of Jeffrey D. Rowe
• Negative Sentiment: UBS, Citigroup and RBC also lowered their expectations or price targets for RPM. The cluster of revisions suggests analysts see more limited near-term upside or increased execution risk, likely weighing on sentiment even though several firms remain constructive. UBS RPM International Forecast

RPM International Company Profile

RPM International Inc is a multinational manufacturer of specialty coatings, sealants, building materials and related products. The company serves the construction, industrial, automotive, marine and consumer markets through a portfolio of businesses that develop products for protecting, repairing, maintaining and enhancing surfaces and structures.

Its brands and businesses include Rust-Oleum consumer and industrial coatings, DAP caulks and sealants, Tremco and Euclid Chemical construction products, Carboline protective coatings, Stonhard seamless flooring systems and Flowcrete flooring products.