Legal & General Group Plc Purchases New Position in RPM International Inc. $RPM

Legal & General Group Plc acquired a new stake in RPM International Inc. (NYSE:RPM) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 339,296 shares of the specialty chemicals company’s stock, valued at approximately $37,713,000.

Several other institutional investors have also added to or reduced their stakes in RPM. BlackRock Inc. bought a new position in shares of RPM International during the second quarter valued at $1,456,684,000. Bank of New York Mellon Corp bought a new position in RPM International during the 2nd quarter valued at about $118,220,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of RPM International during the 4th quarter valued at about $54,307,000. California State Teachers Retirement System grew its stake in shares of RPM International by 14.5% in the fourth quarter. California State Teachers Retirement System now owns 394,860 shares of the specialty chemicals company’s stock worth $41,065,000 after acquiring an additional 49,979 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of RPM International by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock valued at $37,260,000 after purchasing an additional 888 shares during the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

RPM International Stock Up 1.0%

RPM stock opened at $106.79 on Friday. The business’s 50-day moving average price is $109.11 and its 200-day moving average price is $106.51. The stock has a market cap of $13.62 billion, a P/E ratio of 20.70, a PEG ratio of 2.16 and a beta of 1.04. The company has a quick ratio of 1.16, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. RPM International Inc. has a twelve month low of $92.92 and a twelve month high of $128.51.

RPM International (NYSE:RPM) last released its 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 net margin of 8.41% and a return on equity of 22.45%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm posted $1.72 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that RPM International Inc. will post 6 EPS for the current year.

RPM International Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RPM shares. BMO Capital Markets raised their target price on shares of RPM International from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RPM International in a report on Friday, July 24th. Morgan Stanley lowered their target price on RPM International from $121.00 to $117.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Bank of America upped their price target on shares of RPM International from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, UBS Group upgraded shares of RPM International from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $130.00 in a research note on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.00.

About RPM International

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.