RPM International Inc. (NYSE:RPM – Get Rating) – Analysts at Seaport Res Ptn cut their Q1 2023 earnings per share estimates for RPM International in a note issued to investors on Tuesday, July 26th. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $1.32 per share for the quarter, down from their previous estimate of $1.38. The consensus estimate for RPM International’s current full-year earnings is $4.03 per share. Seaport Res Ptn also issued estimates for RPM International’s Q2 2023 earnings at $1.05 EPS, Q3 2023 earnings at $0.40 EPS, Q4 2023 earnings at $1.55 EPS, FY2023 earnings at $4.32 EPS, Q1 2024 earnings at $1.50 EPS, Q2 2024 earnings at $1.23 EPS, Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $1.75 EPS and FY2024 earnings at $5.00 EPS.
Several other brokerages also recently commented on RPM. Wells Fargo & Company lowered their price objective on shares of RPM International from $100.00 to $95.00 and set an “equal weight” rating for the company in a research report on Thursday, April 7th. TheStreet upgraded shares of RPM International from a “c+” rating to a “b” rating in a research report on Monday. Credit Suisse Group assumed coverage on shares of RPM International in a research report on Monday, June 27th. They set an “outperform” rating and a $95.00 price objective for the company. Bank of America lowered their price objective on shares of RPM International from $90.00 to $78.00 and set an “underperform” rating for the company in a research report on Wednesday, July 13th. Finally, BMO Capital Markets lowered their price objective on shares of RPM International from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $96.75.
RPM International Trading Up 2.0 %
RPM International (NYSE:RPM – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The specialty chemicals company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.02). The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.96 billion. RPM International had a net margin of 7.33% and a return on equity of 25.57%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share.
RPM International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be issued a $0.40 dividend. The ex-dividend date is Thursday, July 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. RPM International’s payout ratio is 42.22%.
Insider Activity at RPM International
In related news, SVP Edward W. Moore sold 2,108 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $87.74, for a total value of $184,955.92. Following the completion of the sale, the senior vice president now directly owns 56,086 shares in the company, valued at $4,920,985.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RPM International news, CAO Michael J. Laroche sold 1,476 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $83.55, for a total transaction of $123,319.80. Following the sale, the chief accounting officer now owns 6,525 shares of the company’s stock, valued at $545,163.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Edward W. Moore sold 2,108 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $87.74, for a total transaction of $184,955.92. Following the sale, the senior vice president now directly owns 56,086 shares in the company, valued at approximately $4,920,985.64. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Institutional Trading of RPM International
A number of institutional investors have recently bought and sold shares of RPM. Cowa LLC boosted its position in RPM International by 9,901.1% during the first quarter. Cowa LLC now owns 322,637 shares of the specialty chemicals company’s stock valued at $263,000 after acquiring an additional 319,411 shares during the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of RPM International in the 4th quarter worth about $10,827,000. Boston Trust Walden Corp raised its holdings in shares of RPM International by 13.1% in the 1st quarter. Boston Trust Walden Corp now owns 554,422 shares of the specialty chemicals company’s stock worth $45,152,000 after acquiring an additional 64,242 shares during the last quarter. GW&K Investment Management LLC raised its holdings in shares of RPM International by 7.1% in the 1st quarter. GW&K Investment Management LLC now owns 608,047 shares of the specialty chemicals company’s stock worth $49,519,000 after acquiring an additional 40,198 shares during the last quarter. Finally, Twin Tree Management LP raised its holdings in shares of RPM International by 422.1% in the 4th quarter. Twin Tree Management LP now owns 27,168 shares of the specialty chemicals company’s stock worth $2,744,000 after acquiring an additional 35,602 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.
RPM International Company Profile
RPM International Inc manufactures, markets, and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coatings, and institutional roofing systems; air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance and related services; sealing and bonding, and subfloor preparation, flooring, and in-plant glazing solutions; solutions for fire stopping and intumescent steel coating, and the manufacturing industry; 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; and insulated building cladding materials and concrete form wall systems.
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