RPM International (NYSE:RPM) Stock Gets Price Target Cut from Royal Bank Of Canada

RPM International (NYSE:RPM) had its target price trimmed by Royal Bank Of Canada from $128.00 to $120.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities research analysts have also commented on the company. KeyCorp assumed coverage on RPM International in a research note on Friday, September 11th. They set an “overweight” rating and a $123.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of RPM International in a report on Friday, July 24th. Wall Street Zen downgraded shares of RPM International from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. BMO Capital Markets lifted their price target on shares of RPM International from $143.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of RPM International from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, RPM International presently has an average rating of “Moderate Buy” and a consensus target price of $122.85.

RPM International Stock Down 1.7%

Shares of RPM opened at $97.70 on Wednesday. The firm has a market cap of $12.46 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The company’s fifty day moving average is $104.94 and its two-hundred day moving average is $104.60. RPM International has a fifty-two week low of $92.92 and a fifty-two week high of $121.78. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.57.

RPM International (NYSE:RPM) last released its quarterly earnings data on Tuesday, October 6th. The specialty chemicals company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.03. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.22 billion. RPM International had a return on equity of 22.03% and a net margin of 8.66%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 EPS. Analysts forecast that RPM International will post 5.97 earnings per share for the current year.

RPM International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 20th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from RPM International’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, October 20th. RPM International’s payout ratio is 40.00%.

Hedge Funds Weigh In On RPM International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Operose Advisors LLC purchased a new position in RPM International in the 2nd quarter worth approximately $26,000. Danske Bank A S purchased a new stake in shares of RPM International during the second quarter valued at approximately $47,000. Castleark Management LLC purchased a new stake in shares of RPM International during the second quarter valued at approximately $64,000. USA Financial Formulas acquired a new position in shares of RPM International during the first quarter worth $67,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of RPM International during the fourth quarter worth $69,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting RPM International

Here are the key news stories impacting RPM International this week:

• Positive Sentiment: RPM raised its quarterly dividend 5.6% to $0.57 per share, or $2.28 annually, representing a 2.3% yield. The dividend is payable October 30 to shareholders of record October 20, signaling continued confidence in cash generation. RPM International Boosts Dividend by 5.6%
• Positive Sentiment: Despite lowering its target from $123 to $117, KeyCorp maintained an “overweight” rating. Deutsche Bank also retained a “buy” rating after reducing its target from $126 to $115, leaving analysts’ targets well above the recent trading level. KeyCorp RPM International Price Target
• Positive Sentiment: Recent operating results provided support: RPM exceeded quarterly EPS estimates, revenue rose 4.8% year over year to $2.22 billion, and Evercore ISI and BMO Capital maintained buy-equivalent views. RPM Sales Rise 4.8%
• Neutral Sentiment: RPM announced the election of Jeffrey D. Rowe to its board of directors. The appointment may strengthen board expertise, but no immediate financial impact was disclosed. RPM Announces Election of Jeffrey D. Rowe
• Negative Sentiment: UBS, Citigroup and RBC also lowered their expectations or price targets for RPM. The cluster of revisions suggests analysts see more limited near-term upside or increased execution risk, likely weighing on sentiment even though several firms remain constructive. UBS RPM International Forecast

RPM International Company Profile

RPM International Inc is a multinational manufacturer of specialty coatings, sealants, building materials and related products. The company serves the construction, industrial, automotive, marine and consumer markets through a portfolio of businesses that develop products for protecting, repairing, maintaining and enhancing surfaces and structures.

Its brands and businesses include Rust-Oleum consumer and industrial coatings, DAP caulks and sealants, Tremco and Euclid Chemical construction products, Carboline protective coatings, Stonhard seamless flooring systems and Flowcrete flooring products.