Shares of RPM International Inc. (NYSE:RPM – Get Free Report) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $107.14, but opened at $102.99. RPM International shares last traded at $103.83, with a volume of 174,982 shares trading hands.
The specialty chemicals company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.01). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. RPM International had a net margin of 6.96% and a return on equity of 26.83%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 EPS.
RPM International Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 19th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, January 18th. RPM International’s dividend payout ratio (DPR) is 46.35%.
Wall Street Analysts Forecast Growth
RPM has been the subject of several research analyst reports. Bank of America boosted their target price on shares of RPM International from $97.00 to $99.00 in a research report on Thursday, October 5th. BMO Capital Markets boosted their target price on shares of RPM International from $119.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, October 5th. StockNews.com raised shares of RPM International from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Wells Fargo & Company dropped their target price on shares of RPM International from $110.00 to $106.00 in a research report on Thursday, October 5th. Finally, Royal Bank of Canada boosted their target price on shares of RPM International from $103.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, RPM International currently has a consensus rating of “Hold” and an average target price of $104.00.
Insider Transactions at RPM International
In other RPM International news, CEO Frank C. Sullivan sold 47,447 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $96.03, for a total transaction of $4,556,335.41. Following the completion of the sale, the chief executive officer now directly owns 1,117,072 shares of the company’s stock, valued at $107,272,424.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.50% of the company’s stock.
Hedge Funds Weigh In On RPM International
A number of hedge funds have recently added to or reduced their stakes in RPM. BI Asset Management Fondsmaeglerselskab A S increased its holdings in RPM International by 92.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 447 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 215 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in RPM International by 1,735.7% during the third quarter. Cornerstone Planning Group LLC now owns 514 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 486 shares during the last quarter. Covestor Ltd raised its position in shares of RPM International by 274.8% in the third quarter. Covestor Ltd now owns 566 shares of the specialty chemicals company’s stock valued at $54,000 after purchasing an additional 415 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of RPM International in the first quarter valued at approximately $56,000. Finally, Brown Brothers Harriman & Co. raised its position in shares of RPM International by 1,000.0% in the second quarter. Brown Brothers Harriman & Co. now owns 737 shares of the specialty chemicals company’s stock valued at $66,000 after purchasing an additional 670 shares during the period. Institutional investors and hedge funds own 78.86% of the company’s stock.
RPM International Stock Performance
The company has a market cap of $13.40 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99. The company has a quick ratio of 1.57, a current ratio of 2.45 and a debt-to-equity ratio of 1.09. The stock’s 50-day moving average price is $103.67 and its 200 day moving average price is $98.50.
About RPM International
RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and traditional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance services; sealing and bonding, subfloor preparation, flooring, and glazing solutions; resin flooring systems, polyurethane, MMA waterproof, epoxy floor paint and coatings, concrete repair, and protection products; fire stopping and intumescent steel coating, and manufacturing industry solutions; rolled asphalt roofing materials and chemical admixtures; concrete and masonry admixtures, concrete fibers, curing and sealing compounds, structural grouts and mortars, epoxy adhesives, injection resins, polyurethane foams, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and restoration materials; insulated building cladding materials; and concrete form wall systems.