RPM International (NYSE:RPM) Stock Crosses Above 200 Day Moving Average – Here’s Why

RPM International Inc. (NYSE:RPM) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $122.37 and traded as high as $125.94. RPM International shares last traded at $125.42, with a volume of 252,809 shares changing hands.

Wall Street Analysts Forecast Growth

RPM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of RPM International from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their price objective on shares of RPM International from $107.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on RPM International from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. BMO Capital Markets reiterated an “outperform” rating and set a $149.00 price target (up previously from $139.00) on shares of RPM International in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price objective on RPM International from $125.00 to $134.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $131.00.

RPM International Stock Performance

The company has a market capitalization of $15.98 billion, a PE ratio of 26.03, a PEG ratio of 1.98 and a beta of 1.00. The firm has a 50-day moving average of $132.72 and a two-hundred day moving average of $122.47. The company has a quick ratio of 1.48, a current ratio of 2.26 and a debt-to-equity ratio of 0.77.

RPM International (NYSE:RPM) last posted its earnings results on Wednesday, October 2nd. The specialty chemicals company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.09. RPM International had a net margin of 8.43% and a return on equity of 26.82%. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the firm earned $1.64 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. Research analysts anticipate that RPM International Inc. will post 5.56 EPS for the current year.

RPM International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 18th were given a dividend of $0.51 per share. This is a positive change from RPM International’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.64%. RPM International’s dividend payout ratio (DPR) is 42.77%.

Insider Buying and Selling

In other news, Director Frederick R. Nance sold 594 shares of RPM International stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $135.47, for a total value of $80,469.18. Following the sale, the director now directly owns 8,526 shares of the company’s stock, valued at $1,155,017.22. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael J. Laroche sold 3,615 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $127.14, for a total value of $459,611.10. Following the completion of the transaction, the chief accounting officer now directly owns 11,596 shares of the company’s stock, valued at approximately $1,474,315.44. This represents a 23.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,083 shares of company stock valued at $1,443,549. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RPM International

Institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in RPM International during the third quarter worth approximately $1,295,000. Toronto Dominion Bank boosted its position in shares of RPM International by 33.0% during the 3rd quarter. Toronto Dominion Bank now owns 16,384 shares of the specialty chemicals company’s stock valued at $1,982,000 after acquiring an additional 4,062 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of RPM International by 5.8% in the third quarter. Geode Capital Management LLC now owns 2,656,684 shares of the specialty chemicals company’s stock valued at $320,851,000 after purchasing an additional 145,070 shares during the period. LRI Investments LLC increased its position in RPM International by 12.4% during the third quarter. LRI Investments LLC now owns 2,452 shares of the specialty chemicals company’s stock worth $297,000 after purchasing an additional 271 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in RPM International by 5.8% during the third quarter. Public Employees Retirement System of Ohio now owns 51,260 shares of the specialty chemicals company’s stock worth $6,202,000 after purchasing an additional 2,794 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

About RPM International

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.