Hsbc Holdings PLC purchased a new stake in shares of RPM International Inc. (NYSE:RPM – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor purchased 60,300 shares of the specialty chemicals company’s stock, valued at approximately $6,694,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of RPM International in the 2nd quarter worth approximately $1,456,684,000. Bank of New York Mellon Corp bought a new stake in RPM International during the second quarter valued at approximately $118,220,000. PFA Pension Forsikringsaktieselskab purchased a new stake in RPM International during the fourth quarter valued at approximately $54,307,000. Legal & General Group Plc purchased a new stake in RPM International during the second quarter valued at approximately $37,713,000. Finally, Deutsche Bank AG bought a new position in RPM International in the second quarter worth approximately $25,999,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.
RPM International Price Performance
NYSE RPM opened at $106.79 on Friday. 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. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.16 and a beta of 1.04. The company’s 50 day moving average is $109.11 and its two-hundred day moving average is $106.51.
RPM International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 14th were issued a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $2.16 annualized dividend and a yield of 2.0%. RPM International’s dividend payout ratio is currently 41.86%.
Wall Street Analysts Forecast Growth
RPM has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of RPM International from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Wall Street Zen lowered RPM International from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. BMO Capital Markets raised their target price on RPM International from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Royal Bank Of Canada lifted their target price on RPM International from $126.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, UBS Group raised 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 report on Wednesday, May 27th. Ten equities research 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 an average rating of “Moderate Buy” and an average price target of $126.00.
View Our Latest Report on RPM International
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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