CoreCap Advisors LLC Takes Position in RPM International Inc. (NYSE:RPM)

Posted by Defense World Staff on Jun 1st, 2023

CoreCap Advisors LLC purchased a new stake in RPM International Inc. (NYSE:RPM – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 645 shares of the specialty chemicals company’s stock, valued at approximately $63,000.

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

RPM International Stock Performance

RPM stock opened at $79.79 on Thursday. The firm has a market cap of $10.29 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.51 and a beta of 0.95. The stock has a 50-day moving average price of $81.76 and a 200-day moving average price of $89.07. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 1.37. RPM International Inc. has a 1-year low of $74.56 and a 1-year high of $106.50.

RPM International (NYSE:RPM – Get Rating) last issued its quarterly earnings results on Thursday, April 6th. The specialty chemicals company reported $0.37 earnings per share 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%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. As a group, equities research analysts expect that RPM International Inc. will post 4.26 earnings per share for the current year.

RPM International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Thursday, April 13th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.11%. The ex-dividend date was Wednesday, April 12th. RPM International’s dividend payout ratio (DPR) is presently 41.18%.

Analysts Set New Price Targets

RPM has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on RPM International from $92.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday, April 7th. Morgan Stanley reduced their price target on RPM International from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Monday, April 17th. Royal Bank of Canada reduced their price target on RPM International from $90.00 to $84.00 in a research report on Wednesday, May 17th. JPMorgan Chase & Co. reduced their target price on RPM International from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 10th. Finally, StockNews.com assumed coverage on RPM International in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.10.

Insider Buying and Selling at RPM International

In other RPM International news, CFO Russell L. Gordon sold 11,901 shares of the company’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $82.80, for a total transaction of $985,402.80. Following the sale, the chief financial officer now directly owns 116,018 shares of the company’s stock, valued at $9,606,290.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Edward W. Moore sold 6,626 shares of the company’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $80.61, for a total value of $534,121.86. Following the transaction, the senior vice president now directly owns 49,460 shares in the company, valued at $3,986,970.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Russell L. Gordon sold 11,901 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $82.80, for a total transaction of $985,402.80. Following the completion of the transaction, the chief financial officer now owns 116,018 shares in the company, valued at $9,606,290.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

RPM International Company Profile

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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).