Meeder Asset Management Inc. acquired a new stake in shares of RPM International Inc. (NYSE:RPM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,796 shares of the specialty chemicals company’s stock, valued at approximately $117,000.
Several other hedge funds have also modified their holdings of the company. US Bancorp DE lifted its position in RPM International by 13.2% during the third quarter. US Bancorp DE now owns 57,159 shares of the specialty chemicals company’s stock valued at $3,711,000 after acquiring an additional 6,654 shares during the last quarter. Arizona State Retirement System lifted its position in RPM International by 2.1% during the third quarter. Arizona State Retirement System now owns 94,750 shares of the specialty chemicals company’s stock valued at $6,153,000 after acquiring an additional 1,904 shares during the last quarter. BTIM Corp. lifted its position in RPM International by 2.4% during the third quarter. BTIM Corp. now owns 293,460 shares of the specialty chemicals company’s stock valued at $19,058,000 after acquiring an additional 6,958 shares during the last quarter. Aperio Group LLC lifted its position in RPM International by 30.1% during the third quarter. Aperio Group LLC now owns 41,369 shares of the specialty chemicals company’s stock valued at $2,687,000 after acquiring an additional 9,570 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in RPM International by 18.9% during the third quarter. Nisa Investment Advisors LLC now owns 23,550 shares of the specialty chemicals company’s stock valued at $1,529,000 after acquiring an additional 3,750 shares during the last quarter. 78.60% of the stock is owned by hedge funds and other institutional investors.
RPM has been the subject of a number of analyst reports. ValuEngine raised shares of RPM International from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Northcoast Research cut shares of RPM International from a “buy” rating to a “neutral” rating in a research report on Friday, July 20th. They noted that the move was a valuation call. Morgan Stanley set a $70.00 target price on shares of RPM International and gave the company an “overweight” rating in a research report on Friday, July 20th. Seaport Global Securities reissued a “hold” rating and set a $66.00 target price on shares of RPM International in a research report on Thursday, July 26th. Finally, Zacks Investment Research cut shares of RPM International from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $60.00.
NYSE RPM opened at $64.18 on Friday. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 2.98 and a beta of 1.34. RPM International Inc. has a 12-month low of $46.36 and a 12-month high of $68.13. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.77 and a quick ratio of 1.80.
RPM International (NYSE:RPM) last posted its quarterly earnings results on Wednesday, October 3rd. The specialty chemicals company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.10). The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.42 billion. RPM International had a return on equity of 22.77% and a net margin of 5.36%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. As a group, equities analysts anticipate that RPM International Inc. will post 2.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from RPM International’s previous quarterly dividend of $0.32. RPM International’s dividend payout ratio (DPR) is currently 47.95%.
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RPM International Company Profile
RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. Its Industrial segment offers waterproofing, coatings, and institutional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance and related services; sealing and bonding, and flooring and in-plant glazing solutions; solutions for fire stopping and intumescent steel coating, and the manufacturing industry; polymer flooring systems; and fiberglass reinforced plastic gratings and shapes.
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