Cozad Asset Management Inc. purchased a new position in RPM International Inc. (NYSE:RPM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 41,712 shares of the specialty chemicals company’s stock, valued at approximately $2,433,000.
Several other large investors have also recently modified their holdings of the company. Winfield Associates Inc. purchased a new stake in shares of RPM International in the 2nd quarter valued at $204,000. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of RPM International in the 2nd quarter valued at $204,000. Elefante Mark B purchased a new stake in shares of RPM International in the 2nd quarter valued at $213,000. Bradley Foster & Sargent Inc. CT purchased a new stake in shares of RPM International in the 2nd quarter valued at $213,000. Finally, Sit Investment Associates Inc. raised its holdings in shares of RPM International by 26.1% in the 2nd quarter. Sit Investment Associates Inc. now owns 4,475 shares of the specialty chemicals company’s stock valued at $261,000 after buying an additional 925 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Edward W. Moore sold 4,168 shares of the company’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $61.91, for a total value of $258,040.88. Following the completion of the sale, the senior vice president now directly owns 48,931 shares of the company’s stock, valued at approximately $3,029,318.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John M. Ballbach bought 8,100 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The stock was purchased at an average cost of $62.12 per share, with a total value of $503,172.00. Following the completion of the transaction, the director now owns 8,100 shares in the company, valued at $503,172. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.
Shares of NYSE:RPM traded up $0.20 on Friday, hitting $60.13. 1,553,705 shares of the company’s stock were exchanged, compared to its average volume of 1,182,666. The stock has a market cap of $8.67 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.34 and a beta of 1.43. RPM International Inc. has a 1-year low of $46.36 and a 1-year high of $68.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.63 and a current ratio of 2.45.
RPM International (NYSE:RPM) last released its quarterly earnings data on Wednesday, October 3rd. The specialty chemicals company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.10). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. RPM International had a return on equity of 23.82% and a net margin of 6.35%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. On average, equities research analysts predict that RPM International Inc. will post 3.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th will be given a dividend of $0.35 per share. This is a boost from RPM International’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 2.33%. RPM International’s dividend payout ratio is currently 43.84%.
Several equities research analysts recently issued reports on the company. ValuEngine upgraded RPM International from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Seaport Global Securities restated a “hold” rating and set a $66.00 price target on shares of RPM International in a report on Thursday, July 26th. BMO Capital Markets upped their price target on RPM International from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, July 12th. Northcoast Research downgraded RPM International from a “buy” rating to a “neutral” rating in a report on Friday, July 20th. They noted that the move was a valuation call. Finally, Royal Bank of Canada restated a “hold” rating and set a $60.00 price target on shares of RPM International in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $60.25.
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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