RPM International Inc. (RPM) Shares Bought by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC increased its position in RPM International Inc. (NYSE:RPM) by 9.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,007,328 shares of the specialty chemicals company’s stock after buying an additional 87,679 shares during the period. Lord Abbett & CO. LLC owned 0.75% of RPM International worth $54,950,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of RPM. North Point Portfolio Managers Corp OH purchased a new stake in shares of RPM International in the second quarter worth about $10,821,000. BTIM Corp. purchased a new stake in RPM International during the second quarter valued at approximately $8,197,000. Cramer Rosenthal Mcglynn LLC raised its position in RPM International by 28.9% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 667,874 shares of the specialty chemicals company’s stock valued at $36,433,000 after purchasing an additional 149,861 shares during the period. GW&K Investment Management LLC raised its position in RPM International by 17.6% during the second quarter. GW&K Investment Management LLC now owns 887,994 shares of the specialty chemicals company’s stock valued at $48,440,000 after purchasing an additional 133,104 shares during the period. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in RPM International during the second quarter valued at approximately $7,218,000. Institutional investors own 73.49% of the company’s stock.
In other RPM International news, SVP Edward W. Moore sold 10,568 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $52.04, for a total value of $549,958.72. Following the transaction, the senior vice president now directly owns 92,549 shares of the company’s stock, valued at approximately $4,816,249.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald A. Rice sold 44,839 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $51.83, for a total transaction of $2,324,005.37. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
Shares of RPM International Inc. (NYSE:RPM) traded down 0.31% during midday trading on Thursday, reaching $51.63. The company’s stock had a trading volume of 47,220 shares. RPM International Inc. has a one year low of $46.25 and a one year high of $56.48. The stock’s 50 day moving average price is $50.75 and its 200 day moving average price is $52.29. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 37.12 and a beta of 1.55.
RPM International (NYSE:RPM) last released its earnings results on Wednesday, October 4th. The specialty chemicals company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. RPM International had a net margin of 8.69% and a return on equity of 30.71%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company posted $0.83 EPS. The business’s revenue was up 7.5% on a year-over-year basis. Analysts predict that RPM International Inc. will post $2.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.47%. This is a positive change from RPM International’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, October 13th. RPM International’s dividend payout ratio (DPR) is 94.82%.
RPM has been the topic of a number of recent research reports. TheStreet downgraded RPM International from a “b” rating to a “c+” rating in a research report on Wednesday, October 4th. BidaskClub downgraded RPM International from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Bank of America Corporation decreased their price objective on RPM International from $58.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 25th. Zacks Investment Research upgraded RPM International from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. Finally, Wellington Shields upgraded RPM International from a “hold” rating to an “accumulate” rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $57.00.
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RPM International Profile
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, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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