RPM International (NYSE:RPM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $61.00 price objective on the specialty chemicals company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.31% from the company’s current price.
According to Zacks, “RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments. The three segments of RPM are Consumer, Industrial, and Specialty segments. RPM’s Industrial Products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. Industrial companies include Stonhard, Tremco, Nullifire, Carboline, Flowcrete, Euclid Chemical, RPM Belgium and Vandex. RPM’s Consumer Products are used by professionals for home maintenance and improvement. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane, Touch ‘n Foam, and Testors. RPM’s Specialty Products include industrial cleaners, colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include Day-Glo, Chemspec, Dryvit, Mantrose-Haeuser, Legend Brands, Guardian, Kop-Coat and TCI. “
Several other equities analysts have also commented on RPM. TheStreet lowered RPM International from a “b” rating to a “c+” rating in a report on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $51.00 target price on shares of RPM International in a report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. RPM International has an average rating of “Hold” and an average price target of $57.86.
RPM International (NYSE:RPM) last posted its earnings results on Thursday, January 4th. The specialty chemicals company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.11. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.26 billion. RPM International had a return on equity of 25.05% and a net margin of 6.80%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. sell-side analysts forecast that RPM International will post 2.96 EPS for the current fiscal year.
In related news, insider Ronald A. Rice sold 44,839 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $51.83, for a total value of $2,324,005.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Edward W. Moore sold 2,578 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $53.79, for a total value of $138,670.62. Following the completion of the transaction, the senior vice president now directly owns 98,417 shares of the company’s stock, valued at $5,293,850.43. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of RPM. Los Angeles Capital Management & Equity Research Inc. grew its holdings in RPM International by 0.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,995 shares of the specialty chemicals company’s stock worth $1,854,000 after buying an additional 200 shares in the last quarter. Eaton Vance Management bought a new position in RPM International during the 2nd quarter valued at $758,000. Riverhead Capital Management LLC boosted its stake in RPM International by 52.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,623 shares of the specialty chemicals company’s stock valued at $416,000 after purchasing an additional 2,623 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in RPM International by 3.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 403,387 shares of the specialty chemicals company’s stock valued at $22,005,000 after purchasing an additional 12,737 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in RPM International during the 2nd quarter valued at $526,000. 75.44% of the stock is owned by institutional investors and hedge funds.
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About RPM International
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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