Tribune Investment Group LP bought a new position in shares of RPM International Inc. (NYSE:RPM – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 53,700 shares of the specialty chemicals company’s stock, valued at approximately $5,969,000. RPM International makes up about 2.4% of Tribune Investment Group LP’s holdings, making the stock its 8th biggest holding.
A number of other hedge funds have also modified their holdings of the business. Gamco Investors INC. ET AL acquired a new position in RPM International during the second quarter worth about $402,000. Gabelli Funds LLC purchased a new position in RPM International in the 2nd quarter worth approximately $1,534,000. California State Teachers Retirement System lifted its stake in 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 purchasing an additional 63,532 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of RPM International by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock worth $37,260,000 after purchasing an additional 888 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of RPM International by 5.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,031 shares of the specialty chemicals company’s stock worth $1,321,000 after purchasing an additional 594 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently commented on RPM shares. Royal Bank Of Canada increased their price target on RPM International from $126.00 to $128.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Citigroup raised their target price on RPM International from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of RPM International in a report on Friday, July 24th. UBS Group raised shares of RPM International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $118.00 to $130.00 in a research report on Wednesday, May 27th. Finally, BMO Capital Markets upped their price objective on shares of RPM International from $143.00 to $151.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.00.
RPM International Price Performance
RPM stock opened at $108.78 on Monday. RPM International Inc. has a 52-week low of $92.92 and a 52-week high of $129.12. The company has a quick ratio of 1.16, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.04. The business has a fifty day moving average of $109.29 and a two-hundred day moving average of $106.74.
RPM International (NYSE:RPM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 EPS for the quarter, beating 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 return on equity of 22.45% and a net margin of 8.41%.The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.72 EPS. As a group, research analysts anticipate that RPM International Inc. will post 6 earnings per share for the current year.
RPM International Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were given 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 yield of 2.0%. RPM International’s dividend payout ratio is presently 41.86%.
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.
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