RPM International (NYSE:RPM – Get Free Report) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a $128.00 target price on the specialty chemicals company’s stock, up from their previous target price of $110.00. Bank of America‘s price target would suggest a potential upside of 4.00% from the stock’s current price.
Several other brokerages also recently weighed in on RPM. UBS Group upped their target price on shares of RPM International from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. Morgan Stanley increased their price objective on shares of RPM International from $113.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. BMO Capital Markets increased their price objective on shares of RPM International from $140.00 to $152.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Mizuho increased their price objective on shares of RPM International from $126.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Citigroup initiated coverage on shares of RPM International in a report on Monday, June 2nd. They set a “buy” rating and a $135.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.09.
Read Our Latest Stock Analysis on RPM
RPM International Trading Down 0.8%
RPM International (NYSE:RPM – Get Free Report) last issued its earnings results on Thursday, July 24th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.12. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. RPM International had a net margin of 9.34% and a return on equity of 24.94%. RPM International’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 EPS. On average, sell-side analysts anticipate that RPM International will post 5.5 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Frederick R. Nance sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $119.36, for a total transaction of $119,360.00. Following the sale, the director directly owned 7,394 shares in the company, valued at approximately $882,547.84. This represents a 11.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.
Institutional Trading of RPM International
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GW&K Investment Management LLC increased its position in shares of RPM International by 0.3% during the first quarter. GW&K Investment Management LLC now owns 608,318 shares of the specialty chemicals company’s stock worth $70,370,000 after acquiring an additional 2,048 shares during the period. Boston Trust Walden Corp increased its position in shares of RPM International by 18.1% during the second quarter. Boston Trust Walden Corp now owns 601,564 shares of the specialty chemicals company’s stock worth $66,076,000 after acquiring an additional 92,358 shares during the period. California State Teachers Retirement System increased its position in shares of RPM International by 21.7% during the second quarter. California State Teachers Retirement System now owns 355,934 shares of the specialty chemicals company’s stock worth $39,096,000 after acquiring an additional 63,532 shares during the period. Ameriprise Financial Inc. increased its position in shares of RPM International by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock worth $37,260,000 after acquiring an additional 888 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of RPM International by 39.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 279,570 shares of the specialty chemicals company’s stock worth $34,404,000 after acquiring an additional 78,828 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.
RPM International Company Profile
RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and traditional 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; fire stopping and intumescent steel coating, and manufacturing industry solutions; 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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