RPM International Inc. (RPM) to Issue Quarterly Dividend of $0.42 on April 28th

Posted by on Apr 10th, 2023

RPM International Inc. (NYSE:RPM – Get Rating) declared a quarterly dividend on Monday, April 3rd, Zacks reports. Stockholders of record on Thursday, April 13th will be given a dividend of 0.42 per share by the specialty chemicals company on Friday, April 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, April 12th.

RPM International has raised its dividend by an average of 4.7% annually over the last three years and has raised its dividend every year for the last 48 years. RPM International has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RPM International to earn $4.78 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 35.1%.

RPM International Stock Down 3.7 %

RPM stock opened at $81.19 on Monday. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of $87.07 and a two-hundred day moving average of $91.76. RPM International has a 12 month low of $74.56 and a 12 month high of $106.50. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.42 and a beta of 0.95.

RPM International (NYSE:RPM – Get Rating) last issued its earnings results on Thursday, April 6th. The specialty chemicals company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.47 billion. RPM International had a net margin of 7.29% and a return on equity of 27.66%. RPM International’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. As a group, analysts forecast that RPM International will post 4.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RPM International

Several hedge funds and other institutional investors have recently made changes to their positions in RPM. Baird Financial Group Inc. boosted its holdings in RPM International by 9.0% in the first quarter. Baird Financial Group Inc. now owns 233,786 shares of the specialty chemicals company’s stock valued at $19,039,000 after purchasing an additional 19,318 shares in the last quarter. Cowa LLC grew its position in shares of RPM International by 9,901.1% in the 1st quarter. Cowa LLC now owns 322,637 shares of the specialty chemicals company’s stock valued at $263,000 after buying an additional 319,411 shares during the last quarter. Ancora Advisors LLC raised its stake in RPM International by 11.5% during the 1st quarter. Ancora Advisors LLC now owns 1,450 shares of the specialty chemicals company’s stock worth $133,000 after acquiring an additional 150 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of RPM International by 26.8% during the first quarter. BNP Paribas Arbitrage SA now owns 39,313 shares of the specialty chemicals company’s stock worth $3,202,000 after purchasing an additional 8,319 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of RPM International by 18.3% in the 1st quarter. Neuberger Berman Group LLC now owns 23,423 shares of the specialty chemicals company’s stock valued at $1,908,000 after purchasing an additional 3,625 shares during the last quarter. Institutional investors and hedge funds own 81.50% of the company’s stock.

Analyst Ratings Changes

RPM has been the topic of a number of research analyst reports. KeyCorp initiated coverage on RPM International in a research report on Wednesday, December 14th. They issued a “sector weight” rating on the stock. Wells Fargo & Company dropped their price target on shares of RPM International from $92.00 to $85.00 in a research report on Friday. StockNews.com cut shares of RPM International from a “buy” rating to a “hold” rating in a research report on Friday. Robert W. Baird cut their target price on RPM International from $100.00 to $92.00 in a research report on Friday, January 6th. Finally, BMO Capital Markets lowered their price target on RPM International from $120.00 to $112.00 and set an “outperform” rating for the company in a research report on Friday, January 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.11.

About RPM International

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RPM International, Inc engages in the manufacture, marketing, and sale of coatings, sealants, building materials, and related services. It operates through the following business segments: Construction Products Group (CPG), Performance Coatings Group (PCG), Consumer Group, and Specialty Products Group (SPG).

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Dividend History for RPM International (NYSE:RPM)

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