Empire Life Investments Inc. decreased its position in RPM International Inc. (NYSE:RPM) by 15.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,391 shares of the specialty chemicals company’s stock after selling 94,146 shares during the period. RPM International makes up approximately 2.4% of Empire Life Investments Inc.’s holdings, making the stock its 9th biggest position. Empire Life Investments Inc. owned 0.38% of RPM International worth $29,159,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in RPM. Riverview Trust Co bought a new position in RPM International in the 4th quarter worth about $27,000. Oregon Public Employees Retirement Fund boosted its stake in RPM International by 5,778.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,112,225 shares of the specialty chemicals company’s stock worth $53,000 after purchasing an additional 3,059,278 shares in the last quarter. Essex Savings Bank bought a new position in RPM International in the 4th quarter worth about $56,000. Tributary Capital Management LLC bought a new position in RPM International in the 4th quarter worth about $72,000. Finally, We Are One Seven LLC bought a new position in RPM International in the 4th quarter worth about $153,000. Institutional investors own 77.07% of the company’s stock.
Several equities analysts have issued reports on RPM shares. Gabelli restated a “buy” rating on shares of RPM International in a research note on Monday, April 8th. BMO Capital Markets lowered their target price on shares of RPM International from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th. Zacks Investment Research upgraded shares of RPM International from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. upgraded shares of RPM International from an “underweight” rating to a “neutral” rating and upped their target price for the company from $50.00 to $55.00 in a research note on Monday, April 8th. Finally, TheStreet cut shares of RPM International from a “b-” rating to a “c” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. RPM International currently has a consensus rating of “Hold” and a consensus target price of $66.57.
RPM International (NYSE:RPM) last released its quarterly earnings results on Thursday, April 4th. The specialty chemicals company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. RPM International had a net margin of 3.96% and a return on equity of 21.39%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts expect that RPM International Inc. will post 2.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, April 15th. RPM International’s payout ratio is currently 47.95%.
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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