Kayne Anderson Rudnick Investment Management LLC Cuts Holdings in RPM International Inc. (RPM)
Kayne Anderson Rudnick Investment Management LLC lowered its holdings in shares of RPM International Inc. (NYSE:RPM) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362,983 shares of the specialty chemicals company’s stock after selling 11,164 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.27% of RPM International worth $18,635,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. North Point Portfolio Managers Corp OH acquired a new position in shares of RPM International in the second quarter valued at approximately $10,821,000. BTIM Corp. acquired a new position in shares of RPM International in the second quarter valued at approximately $8,197,000. Cramer Rosenthal Mcglynn LLC raised its position in shares of RPM International by 28.9% in 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 buying an additional 149,861 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in shares of RPM International in the second quarter valued at approximately $7,218,000. Finally, Lord Abbett & CO. LLC raised its position in shares of RPM International by 9.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,007,328 shares of the specialty chemicals company’s stock valued at $54,950,000 after buying an additional 87,679 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.
In other RPM International news, insider Ronald A. Rice sold 44,839 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $51.83, for a total transaction of $2,324,005.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by insiders.
A number of equities analysts have recently weighed in on the stock. BidaskClub lowered shares of RPM International from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research raised shares of RPM International from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. Wellington Shields raised shares of RPM International from a “hold” rating to an “accumulate” rating in a research report on Friday, August 18th. Bank of America Corporation cut their price objective on shares of RPM International from $58.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $51.00 price target on shares of RPM International in a research report on Wednesday. One research 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 an average target price of $57.33.
Shares of RPM International Inc. (RPM) traded up $0.15 during mid-day trading on Friday, reaching $51.76. 68,412 shares of the company traded hands, compared to its average volume of 779,445. RPM International Inc. has a 1 year low of $47.87 and a 1 year high of $56.48. The company has a quick ratio of 1.38, a current ratio of 2.16 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $6,811.66, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.27 and a beta of 1.54.
RPM International (NYSE:RPM) last issued its quarterly earnings results on Wednesday, October 4th. The specialty chemicals company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. RPM International had a net margin of 3.67% and a return on equity of 24.73%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. RPM International’s revenue for the quarter was up 7.5% compared to the same quarter last year. sell-side analysts anticipate that RPM International Inc. will post 2.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th were paid a dividend of $0.32 per share. This is an increase from RPM International’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Friday, October 13th. RPM International’s payout ratio is currently 94.82%.
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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, 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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