RPM International Inc. (NYSE:RPM) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.68-2.78 for the period, compared to the Thomson Reuters consensus estimate of $2.77.

Shares of RPM International Inc. (NYSE:RPM) traded down 3.34% during trading on Wednesday, reaching $50.97. 1,087,634 shares of the company’s stock were exchanged. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 19.35 and a beta of 1.38. The stock has a 50-day moving average price of $53.58 and a 200 day moving average price of $51.33. RPM International Inc. has a 12 month low of $36.78 and a 12 month high of $55.92.

RPM International (NYSE:RPM) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.28 billion. RPM International had a net margin of 7.37% and a return on equity of 28.11%. RPM International’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, analysts forecast that RPM International Inc. will post $2.77 EPS for the current year.

A number of brokerages recently issued reports on RPM. Zacks Investment Research cut shares of RPM International from a buy rating to a hold rating in a research note on Thursday, August 11th. Seaport Global Securities cut shares of RPM International from an accumulate rating to a neutral rating and upped their price target for the stock from $55.00 to $57.00 in a research note on Wednesday, August 10th. JPMorgan Chase & Co. reissued a hold rating on shares of RPM International in a research report on Monday, July 18th. Wellington Shields lowered RPM International from a buy rating to a hold rating in a research report on Wednesday, July 13th. Finally, Morgan Stanley reissued a buy rating on shares of RPM International in a research report on Thursday, June 16th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $53.25.

In other news, Chairman Frank C. Sullivan sold 60,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $53.56, for a total transaction of $3,213,600.00. Following the completion of the sale, the chairman now owns 1,144,622 shares of the company’s stock, valued at approximately $61,305,954.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew T. Ratajczak sold 4,152 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $54.04, for a total transaction of $224,374.08. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Martingale Asset Management L P raised its stake in 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 valued at $18,315,000 after buying an additional 356,255 shares during the last quarter. Panagora Asset Management Inc. raised its stake in RPM International by 2,225.6% in the second quarter. Panagora Asset Management Inc. now owns 119,396 shares of the company’s stock valued at $5,964,000 after buying an additional 114,262 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in RPM International by 18.4% in the second quarter. TIAA CREF Investment Management LLC now owns 327,682 shares of the company’s stock valued at $16,368,000 after buying an additional 50,987 shares during the last quarter. Paloma Partners Management Co acquired a new stake in RPM International during the second quarter valued at approximately $1,784,000. Finally, Parametric Portfolio Associates LLC raised its stake in RPM International by 3.4% in the second quarter. Parametric Portfolio Associates LLC now owns 166,332 shares of the company’s stock valued at $8,308,000 after buying an additional 5,450 shares during the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

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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