NewEdge Wealth LLC Takes Position in RPM International Inc. $RPM

NewEdge Wealth LLC purchased a new stake in shares of RPM International Inc. (NYSE:RPM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 6,423 shares of the specialty chemicals company’s stock, valued at approximately $714,000.

Several other large investors have also recently added to or reduced their stakes in RPM. Gamco Investors INC. ET AL bought a new stake in RPM International during the second quarter valued at $402,000. Gabelli Funds LLC bought a new position in shares of RPM International in the 2nd quarter worth about $1,534,000. California State Teachers Retirement System lifted its position in shares of RPM International by 21.7% in the 2nd quarter. California State Teachers Retirement System now owns 355,934 shares of the specialty chemicals company’s stock worth $39,096,000 after buying an additional 63,532 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of RPM International by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock valued at $37,260,000 after buying an additional 888 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of RPM International by 5.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,031 shares of the specialty chemicals company’s stock valued at $1,321,000 after buying an additional 594 shares during the period. 80.95% of the stock is currently owned by institutional investors.

RPM International Stock Down 1.4%

Shares of RPM International stock opened at $108.78 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 1.16. RPM International Inc. has a 1-year low of $92.92 and a 1-year high of $129.12. The business’s fifty day moving average price is $109.29 and its two-hundred day moving average price is $106.74. The company has a market capitalization of $13.90 billion, a P/E ratio of 21.08, a PEG ratio of 2.22 and a beta of 1.04.

RPM International (NYSE:RPM) last released its quarterly earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.06. RPM International had a return on equity of 22.45% and a net margin of 8.41%.The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the business posted $1.72 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that RPM International Inc. will post 6 EPS for the current year.

RPM International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, July 14th. RPM International’s payout ratio is 41.86%.

Analysts Set New Price Targets

Several research firms recently weighed in on RPM. Royal Bank Of Canada increased their price objective on shares of RPM International from $126.00 to $128.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Bank of America increased their price target on RPM International from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of RPM International in a research note on Friday, July 24th. Citigroup increased their target price on RPM International from $125.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Morgan Stanley reduced their price target on shares of RPM International from $121.00 to $117.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

RPM International Profile

RPM International Inc is a global holding company whose subsidiaries specialize in the manufacture and marketing of high-performance coatings, sealants, building materials, and specialty chemicals. Through its two principal operating segments—Performance Coatings and Industrial Coatings—RPM serves a diverse range of end markets, including construction, consumer products, industrial maintenance, and specialty applications.

The company’s Performance Coatings segment offers a broad portfolio of architectural coatings, waterproofing systems, and specialty building products used by contractors, builders, and homeowners.