RPM International Inc. (RPM) Releases Earnings Results, Beats Expectations By $0.03 EPS
RPM International Inc. (NYSE:RPM) announced its earnings results on Wednesday. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. RPM International had a return on equity of 28.11% and a net margin of 7.37%. During the same period in the previous year, the firm earned $0.74 earnings per share.
RPM International (NYSE:RPM) opened at 52.73 on Wednesday. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 20.02 and a beta of 1.38. RPM International has a 52-week low of $36.78 and a 52-week high of $55.92. The company’s 50-day moving average price is $53.58 and its 200 day moving average price is $51.33.
A number of equities research analysts have recently issued reports on RPM shares. Zacks Investment Research lowered RPM International from a “hold” rating to a “sell” rating in a research report on Wednesday, June 8th. Morgan Stanley reaffirmed a “buy” rating on shares of RPM International in a research report on Thursday, June 16th. Wellington Shields lowered RPM International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of RPM International in a research report on Monday, July 18th. Finally, Seaport Global Securities lowered RPM International from an “accumulate” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Wednesday, August 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $53.25.
In other RPM International news, Chairman Frank C. Sullivan sold 60,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $53.56, for a total value of $3,213,600.00. Following the transaction, the chairman now directly owns 1,144,622 shares in the company, valued at approximately $61,305,954.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Barry Slifstein sold 1,000 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $54.27, for a total value of $54,270.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of RPM International by 2.3% in the second quarter. US Bancorp DE now owns 38,057 shares of the company’s stock worth $1,901,000 after buying an additional 871 shares during the last quarter. Comerica Bank raised its position in shares of RPM International by 1.9% in the second quarter. Comerica Bank now owns 106,330 shares of the company’s stock worth $5,838,000 after buying an additional 1,978 shares during the last quarter. Martingale Asset Management L P raised its position in shares of RPM International by 3,425.2% in the second quarter. Martingale Asset Management L P now owns 366,656 shares of the company’s stock worth $18,315,000 after buying an additional 356,255 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of RPM International by 18.4% in the second quarter. TIAA CREF Investment Management LLC now owns 327,682 shares of the company’s stock worth $16,368,000 after buying an additional 50,987 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of RPM International by 1.4% in the second quarter. Teachers Advisors Inc. now owns 104,503 shares of the company’s stock worth $5,220,000 after buying an additional 1,460 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.
About RPM International
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives. The Company operates through two segments, which include industrial segment and consumer segment.
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