RPM International (NYSE:RPM) Stock Gets Price Target Trim from Citigroup

RPM International (NYSE:RPM – Free Report) had its target price cut by Citigroup from $128.00 to $116.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other research analysts also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of RPM International in a report on Friday, July 24th. KeyCorp started coverage on RPM International in a research note on Friday, September 11th. They set an “overweight” rating and a $123.00 price target on the stock. BMO Capital Markets upped their price objective on shares of RPM International from $143.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Wells Fargo & Company dropped their target price on shares of RPM International from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Finally, Bank of America upped their price target on shares of RPM International from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.85.

Get Our Latest Analysis on RPM

RPM International Trading Down 1.7%

Shares of RPM opened at $97.70 on Wednesday. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.76 and a quick ratio of 1.16. RPM International has a 1-year low of $92.92 and a 1-year high of $121.78. The company has a 50-day moving average of $104.94 and a 200 day moving average of $104.60.

RPM International (NYSE:RPM – Get Free Report) last issued its earnings results on Tuesday, October 6th. The specialty chemicals company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.03. RPM International had a net margin of 8.66% and a return on equity of 22.03%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the firm earned $1.88 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts expect that RPM International will post 5.97 EPS for the current year.

RPM International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, October 20th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This is a positive change from RPM International’s previous quarterly dividend of $0.54. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. RPM International’s dividend payout ratio is currently 40.00%.

Hedge Funds Weigh In On RPM International

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of RPM International during the 2nd quarter valued at $1,456,684,000. Bank of New York Mellon Corp purchased a new position in RPM International during the 2nd quarter worth $118,220,000. Legal & General Group Plc acquired a new position in RPM International during the 2nd quarter valued at about $37,713,000. Deutsche Bank AG acquired a new position in RPM International during the 2nd quarter valued at about $25,999,000. Finally, Danske Bank A S purchased a new stake in RPM International in the second quarter valued at about $20,077,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

RPM International News Summary

Here are the key news stories impacting RPM International this week:

  • Positive Sentiment: RPM raised its quarterly dividend 5.6% to $0.57 per share, or $2.28 annually, representing a 2.3% yield. The dividend is payable October 30 to shareholders of record October 20, signaling continued confidence in cash generation. RPM International Boosts Dividend by 5.6%
  • Positive Sentiment: Despite lowering its target from $123 to $117, KeyCorp maintained an “overweight” rating. Deutsche Bank also retained a “buy” rating after reducing its target from $126 to $115, leaving analysts’ targets well above the recent trading level. KeyCorp RPM International Price Target
  • Positive Sentiment: Recent operating results provided support: RPM exceeded quarterly EPS estimates, revenue rose 4.8% year over year to $2.22 billion, and Evercore ISI and BMO Capital maintained buy-equivalent views. RPM Sales Rise 4.8%
  • Neutral Sentiment: RPM announced the election of Jeffrey D. Rowe to its board of directors. The appointment may strengthen board expertise, but no immediate financial impact was disclosed. RPM Announces Election of Jeffrey D. Rowe
  • Negative Sentiment: UBS, Citigroup and RBC also lowered their expectations or price targets for RPM. The cluster of revisions suggests analysts see more limited near-term upside or increased execution risk, likely weighing on sentiment even though several firms remain constructive. UBS RPM International Forecast

About RPM International

(Get Free Report)

RPM International Inc is a multinational manufacturer of specialty coatings, sealants, building materials and related products. The company serves the construction, industrial, automotive, marine and consumer markets through a portfolio of businesses that develop products for protecting, repairing, maintaining and enhancing surfaces and structures.

Its brands and businesses include Rust-Oleum consumer and industrial coatings, DAP caulks and sealants, Tremco and Euclid Chemical construction products, Carboline protective coatings, Stonhard seamless flooring systems and Flowcrete flooring products.

See Also

Analyst Recommendations for RPM International (NYSE:RPM)

Receive News & Ratings for RPM International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPM International and related companies with MarketBeat.com's FREE daily email newsletter.