RPM International Inc. (NYSE:RPM) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.68-2.78 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.77.
A number of research firms have recently weighed in on RPM. Seaport Global Securities downgraded shares of RPM International from an accumulate rating to a neutral rating and increased their target price for the company from $55.00 to $57.00 in a research report on Wednesday, August 10th. Zacks Investment Research downgraded shares of RPM International from a buy rating to a hold rating in a report on Thursday, August 11th. Wells Fargo & Co. reaffirmed a buy rating on shares of RPM International in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a hold rating on shares of RPM International in a report on Monday, July 18th. Finally, Wellington Shields downgraded shares of RPM International from a buy rating to a hold rating in a report on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. RPM International has a consensus rating of Hold and a consensus price target of $53.25.
Shares of RPM International Inc. (NYSE:RPM) opened at 50.61 on Thursday. The firm has a 50-day moving average of $53.48 and a 200 day moving average of $51.32. The stock has a market capitalization of $6.74 billion, a PE ratio of 19.21 and a beta of 1.38. RPM International Inc. has a 1-year low of $36.78 and a 1-year high of $55.92.
RPM International (NYSE:RPM) last issued its earnings results on Wednesday, October 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The business earned $1.25 billion during the quarter, compared to analysts’ expectations of $1.28 billion. RPM International had a net margin of 7.37% and a return on equity of 28.11%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Analysts predict that RPM International Inc. will post $2.77 EPS for the current year.
In other RPM International news, VP Matthew T. Ratajczak sold 4,152 shares of RPM International stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $54.04, for a total value of $224,374.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Frank C. Sullivan sold 60,000 shares of RPM International stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.56, for a total transaction of $3,213,600.00. Following the completion of the transaction, the chairman now directly owns 1,144,622 shares of the company’s stock, valued at $61,305,954.32. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of RPM. Johnson Financial Group Inc. bought a new position in RPM International during the second quarter valued at $250,000. Nuveen Fund Advisors LLC bought a new position in RPM International during the second quarter valued at $265,000. Keeley Asset Management Corp boosted its position in RPM International by 11.5% in the second quarter. Keeley Asset Management Corp now owns 30,755 shares of the company’s stock valued at $1,536,000 after buying an additional 3,170 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in RPM International by 2.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 31,500 shares of the company’s stock valued at $1,573,000 after buying an additional 700 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in RPM International during the second quarter valued at $1,784,000. 72.08% of the stock is owned by institutional investors and hedge funds.
RPM International Company Profile
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives. The Company operates through two segments, which include industrial segment and consumer segment.
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