California State Teachers Retirement System Has $4.36 Billion Stock Holdings in RPM International Inc. $RPM

California State Teachers Retirement System grew its position in shares of RPM International Inc. (NYSE:RPM) by 9,897.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 39,221,389 shares of the specialty chemicals company’s stock after buying an additional 38,829,074 shares during the quarter. California State Teachers Retirement System owned approximately 0.31% of RPM International worth $4,359,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Operose Advisors LLC acquired a new position in shares of RPM International in the second quarter valued at about $26,000. Danske Bank A S acquired a new stake in RPM International in the 2nd quarter worth about $47,000. Rothschild Investment LLC raised its stake in RPM International by 2,387.0% in the 4th quarter. Rothschild Investment LLC now owns 572 shares of the specialty chemicals company’s stock worth $59,000 after purchasing an additional 549 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in RPM International in the 4th quarter valued at about $60,000. Finally, Castleark Management LLC acquired a new position in shares of RPM International during the 2nd quarter worth approximately $64,000. Institutional investors own 80.95% of the company’s stock.

RPM International Price Performance

Shares of NYSE:RPM opened at $99.71 on Thursday. The firm has a 50 day moving average of $108.04 and a 200-day moving average of $105.60. The stock has a market capitalization of $12.72 billion, a PE ratio of 19.32, a PEG ratio of 2.09 and a beta of 1.05. The company has a current ratio of 1.68, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. RPM International Inc. has a 12 month low of $92.92 and a 12 month high of $128.51.

RPM International (NYSE:RPM) last posted 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. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. RPM International had a net margin of 8.41% and a return on equity of 22.45%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.72 EPS. On average, equities research analysts predict that RPM International Inc. will post 6 EPS for the current fiscal year.

RPM International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were paid a dividend of $0.54 per share. The ex-dividend date was Tuesday, July 14th. This represents a $2.16 annualized dividend and a yield of 2.2%. RPM International’s dividend payout ratio is presently 41.86%.

Analysts Set New Price Targets

Several research analysts have recently commented 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. 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. Morgan Stanley dropped their price objective on RPM International from $121.00 to $117.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Finally, Citigroup upped their target price on RPM International from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.