RPM International Inc. (NYSE:RPM – Free Report) – Equities researchers at KeyCorp reduced their FY2023 EPS estimates for RPM International in a research report issued on Monday, July 10th. KeyCorp analyst A. Yefremov now forecasts that the specialty chemicals company will post earnings of $4.24 per share for the year, down from their prior forecast of $4.25. The consensus estimate for RPM International’s current full-year earnings is $4.24 per share. KeyCorp also issued estimates for RPM International’s Q4 2023 earnings at $1.28 EPS and FY2024 earnings at $4.83 EPS.
RPM has been the subject of a number of other reports. StockNews.com began coverage on shares of RPM International in a report on Thursday, May 18th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of RPM International in a report on Monday, June 5th. They issued a “hold” rating and a $90.00 target price for the company. Bank of America upped their target price on shares of RPM International from $85.00 to $89.00 and gave the company an “underperform” rating in a report on Monday, April 10th. TheStreet cut shares of RPM International from a “b-” rating to a “c+” rating in a report on Friday, April 28th. Finally, Wells Fargo & Company reduced their target price on shares of RPM International from $92.00 to $85.00 and set an “equal weight” rating for the company in a report on Friday, April 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.60.
RPM International Price Performance
RPM International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Tuesday, July 18th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, July 17th. This represents a $1.68 annualized dividend and a yield of 1.83%. RPM International’s payout ratio is currently 41.18%.
Insiders Place Their Bets
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 transaction, the chief financial officer now directly owns 116,018 shares in the company, valued at $9,606,290.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in RPM. Sciencast Management LP acquired a new stake in shares of RPM International in the second quarter valued at approximately $879,000. DNB Asset Management AS boosted its position in RPM International by 8.1% during the second quarter. DNB Asset Management AS now owns 25,933 shares of the specialty chemicals company’s stock worth $2,327,000 after acquiring an additional 1,952 shares during the last quarter. DnB Asset Management AS boosted its position in RPM International by 8.1% during the second quarter. DnB Asset Management AS now owns 25,933 shares of the specialty chemicals company’s stock worth $2,327,000 after acquiring an additional 1,952 shares during the last quarter. Symmetry Partners LLC boosted its position in RPM International by 5.8% during the second quarter. Symmetry Partners LLC now owns 5,824 shares of the specialty chemicals company’s stock worth $523,000 after acquiring an additional 321 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in RPM International during the first quarter worth approximately $56,000. 78.28% of the stock is currently owned by institutional investors and hedge funds.
About RPM International
RPM International Inc manufactures, markets, and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and institutional 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; solutions for fire stopping and intumescent steel coating, and manufacturing industry; 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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