RPM International Inc. (NYSE:RPM) Plans Dividend Increase – $0.36 Per Share

RPM International Inc. (NYSE:RPM) declared a quarterly dividend on Wednesday, October 2nd, RTT News reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.36 per share by the specialty chemicals company on Thursday, October 31st. This represents a $1.44 annualized dividend and a dividend yield of 2.14%. This is a positive change from RPM International’s previous quarterly dividend of $0.35.

RPM International has increased its dividend by an average of 7.5% annually over the last three years and has increased its dividend annually for the last 44 consecutive years. RPM International has a dividend payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RPM International to earn $4.13 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 33.9%.

Shares of RPM stock traded up $0.12 on Thursday, hitting $67.38. The stock had a trading volume of 924,030 shares, compared to its average volume of 583,476. RPM International has a twelve month low of $51.95 and a twelve month high of $70.49. The firm has a market cap of $8.92 billion, a P/E ratio of 24.86, a PEG ratio of 1.53 and a beta of 1.25. The company has a current ratio of 1.64, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The company has a fifty day moving average price of $67.76 and a two-hundred day moving average price of $62.28.

RPM International (NYSE:RPM) last announced its quarterly earnings results on Wednesday, October 2nd. The specialty chemicals company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. RPM International had a net margin of 4.79% and a return on equity of 23.46%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. On average, analysts expect that RPM International will post 3.36 earnings per share for the current year.

In related news, Director Frederick R. Nance sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $66.54, for a total value of $73,194.00. Following the sale, the director now directly owns 16,581 shares of the company’s stock, valued at $1,103,299.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

A number of research analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of RPM International from $69.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Vertical Research upgraded shares of RPM International from a “sell” rating to a “hold” rating in a research report on Thursday. Northcoast Research reiterated a “neutral” rating on shares of RPM International in a research report on Thursday, July 25th. Zacks Investment Research raised shares of RPM International from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Wednesday, July 24th. Finally, ValuEngine downgraded shares of RPM International from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. RPM International has an average rating of “Hold” and an average target price of $69.00.

About RPM International

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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Dividend History for RPM International (NYSE:RPM)