Nationwide Fund Advisors increased its holdings in shares of RPM International Inc. (NYSE:RPM) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 301,503 shares of the specialty chemicals company’s stock after purchasing an additional 3,485 shares during the period. Nationwide Fund Advisors owned approximately 0.23% of RPM International worth $16,447,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in RPM International by 15.3% during the second quarter. Russell Investments Group Ltd. now owns 30,657 shares of the specialty chemicals company’s stock valued at $1,672,000 after acquiring an additional 4,071 shares during the period. DF Dent & Co. Inc. increased its stake in RPM International by 7.0% during the first quarter. DF Dent & Co. Inc. now owns 4,385 shares of the specialty chemicals company’s stock valued at $241,000 after acquiring an additional 285 shares during the period. Meadow Creek Investment Management LLC increased its stake in RPM International by 4.1% during the first quarter. Meadow Creek Investment Management LLC now owns 6,204 shares of the specialty chemicals company’s stock valued at $341,000 after acquiring an additional 242 shares during the period. World Asset Management Inc increased its stake in RPM International by 14.8% during the first quarter. World Asset Management Inc now owns 9,968 shares of the specialty chemicals company’s stock valued at $549,000 after acquiring an additional 1,288 shares during the period. Finally, Quantbot Technologies LP bought a new position in RPM International during the first quarter valued at about $738,000. 73.49% of the stock is owned by institutional investors and hedge funds.
Shares of RPM International Inc. (RPM) opened at 51.00 on Thursday. RPM International Inc. has a 1-year low of $46.25 and a 1-year high of $56.48. The stock has a 50 day moving average price of $49.55 and a 200 day moving average price of $52.74. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 37.36 and a beta of 1.55.
RPM International (NYSE:RPM) last announced its quarterly earnings data on Monday, July 24th. The specialty chemicals company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.15). The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. RPM International had a net margin of 3.67% and a return on equity of 25.02%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $1.13 earnings per share. Analysts forecast that RPM International Inc. will post $2.88 earnings per share for the current year.
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In related news, SVP Edward W. Moore sold 10,568 shares of RPM International stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $52.04, for a total value of $549,958.72. Following the transaction, the senior vice president now directly owns 92,549 shares of the company’s stock, valued at $4,816,249.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.
Several brokerages recently issued reports on RPM. Zacks Investment Research upgraded RPM International from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, June 7th. BidaskClub upgraded RPM International from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada restated a “hold” rating and set a $49.00 price target on shares of RPM International in a research note on Tuesday, June 13th. Finally, Bank of America Corporation lowered their price target on RPM International from $58.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $57.71.
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, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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