Royal Bank of Canada Increases RPM International (NYSE:RPM) Price Target to $126.00

by · The Cerbat Gem

RPM International (NYSE:RPM – Free Report) had its target price raised by Royal Bank of Canada from $120.00 to $126.00 in a research report sent to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the specialty chemicals company’s stock.

A number of other research firms have also recently issued reports on RPM. JPMorgan Chase & Co. cut RPM International from an overweight rating to a neutral rating and set a $120.00 target price for the company. in a research note on Friday, July 26th. Mizuho lowered their target price on RPM International from $136.00 to $134.00 and set an outperform rating for the company in a research note on Friday, July 26th. Wells Fargo & Company lifted their price target on shares of RPM International from $110.00 to $125.00 and gave the company an equal weight rating in a research note on Friday, July 26th. BMO Capital Markets lowered their price objective on shares of RPM International from $140.00 to $139.00 and set an outperform rating for the company in a research report on Tuesday, August 27th. Finally, UBS Group cut their price objective on shares of RPM International from $122.00 to $117.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $129.70.

Get Our Latest Stock Analysis on RPM International

RPM International Stock Performance

Shares of NYSE:RPM opened at $128.91 on Thursday. The firm’s 50 day simple moving average is $118.48 and its 200 day simple moving average is $113.89. RPM International has a fifty-two week low of $88.84 and a fifty-two week high of $129.91. The company has a market capitalization of $16.60 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 1.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.26 and a quick ratio of 1.32.

RPM International (NYSE:RPM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 2nd. The specialty chemicals company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.09. RPM International had a net margin of 8.43% and a return on equity of 26.82%. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm posted $1.64 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that RPM International will post 5.49 earnings per share for the current year.

RPM International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 18th will be paid a $0.51 dividend. This is a positive change from RPM International’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.58%. The ex-dividend date is Friday, October 18th. RPM International’s payout ratio is presently 42.40%.

Insider Transactions at RPM International

In related news, VP Matthew T. Ratajczak sold 1,452 shares of RPM International stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $117.79, for a total value of $171,031.08. Following the sale, the vice president now owns 24,339 shares of the company’s stock, valued at approximately $2,866,890.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RPM International news, CEO Frank C. Sullivan sold 57,083 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $116.06, for a total value of $6,625,052.98. Following the completion of the sale, the chief executive officer now owns 1,039,040 shares in the company, valued at $120,590,982.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Matthew T. Ratajczak sold 1,452 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $117.79, for a total transaction of $171,031.08. Following the transaction, the vice president now owns 24,339 shares in the company, valued at $2,866,890.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On RPM International

Several hedge funds have recently bought and sold shares of RPM. Pacer Advisors Inc. lifted its position in shares of RPM International by 9,945.2% in the second quarter. Pacer Advisors Inc. now owns 1,949,479 shares of the specialty chemicals company’s stock valued at $209,920,000 after buying an additional 1,930,072 shares during the last quarter. Bank of New York Mellon Corp boosted its position in RPM International by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 1,475,784 shares of the specialty chemicals company’s stock worth $158,912,000 after purchasing an additional 61,218 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of RPM International by 61.6% in the first quarter. BNP Paribas Financial Markets now owns 100,071 shares of the specialty chemicals company’s stock valued at $11,903,000 after purchasing an additional 38,135 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of RPM International in the second quarter valued at about $3,676,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of RPM International by 16.5% during the 1st quarter. Russell Investments Group Ltd. now owns 158,408 shares of the specialty chemicals company’s stock worth $18,919,000 after buying an additional 22,388 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

RPM International Company Profile

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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.

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