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Seaport Res Ptn Analysts Cut Earnings Estimates for RPM International Inc. (NYSE:RPM)

Defense World · Sep 17, 2022 01:31

RPM International Inc. (NYSE:RPM – Get Rating) – Research analysts at Seaport Res Ptn decreased their Q1 2023 earnings per share (EPS) estimates for shares of RPM International in a report issued on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will post earnings of $1.31 per share for the quarter, down from their previous estimate of $1.32. The consensus estimate for RPM International's current full-year earnings is $4.31 per share. Seaport Res Ptn also issued estimates for RPM International's Q2 2023 earnings at $1.03 EPS, Q3 2023 earnings at $0.38 EPS, Q4 2023 earnings at $1.53 EPS and FY2023 earnings at $4.25 EPS.

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A number of other brokerages have also recently issued reports on RPM. Credit Suisse Group began coverage on RPM International in a research report on Monday, June 27th. They set an "outperform" rating and a $95.00 target price for the company. Bank of America decreased their target price on RPM International from $90.00 to $78.00 and set an "underperform" rating for the company in a research report on Wednesday, July 13th. StockNews.com cut RPM International from a "buy" rating to a "hold" rating in a research report on Friday, September 9th. TheStreet raised RPM International from a "c+" rating to a "b" rating in a research report on Monday, July 25th. Finally, BMO Capital Markets upped their target price on RPM International from $104.00 to $111.00 and gave the stock an "outperform" rating in a research report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $96.75.

RPM International Stock Down 3.0 %

Shares of RPM International stock opened at $88.31 on Friday. The stock has a market capitalization of $11.40 billion, a P/E ratio of 23.30, a PEG ratio of 4.38 and a beta of 0.94. The company has a quick ratio of 0.96, a current ratio of 1.56 and a debt-to-equity ratio of 1.05. The stock has a 50 day moving average price of $90.28 and a two-hundred day moving average price of $85.56. RPM International has a 12-month low of $74.56 and a 12-month high of $101.48.

RPM International (NYSE:RPM – Get Rating) last announced its quarterly earnings results on Monday, July 25th. The specialty chemicals company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.02). The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.96 billion. RPM International had a net margin of 7.33% and a return on equity of 25.57%. The company's quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 EPS.

RPM International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.81%. RPM International's dividend payout ratio (DPR) is presently 42.22%.

Insider Activity at RPM International

In related news, SVP Edward W. Moore sold 2,108 shares of the company's stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $87.74, for a total value of $184,955.92. Following the completion of the transaction, the senior vice president now directly owns 56,086 shares in the company, valued at $4,920,985.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frederick R. Nance sold 2,600 shares of the company's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $89.24, for a total value of $232,024.00. Following the completion of the transaction, the director now directly owns 9,049 shares in the company, valued at $807,532.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Edward W. Moore sold 2,108 shares of the company's stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $87.74, for a total value of $184,955.92. Following the completion of the transaction, the senior vice president now owns 56,086 shares of the company's stock, valued at $4,920,985.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,701 shares of company stock worth $506,370. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RPM. Renaissance Group LLC raised its stake in RPM International by 11.0% during the fourth quarter. Renaissance Group LLC now owns 321,653 shares of the specialty chemicals company's stock worth $32,487,000 after acquiring an additional 31,830 shares in the last quarter. Geode Capital Management LLC raised its stake in RPM International by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,601,983 shares of the specialty chemicals company's stock worth $161,533,000 after acquiring an additional 34,887 shares in the last quarter. GW&K Investment Management LLC raised its stake in RPM International by 5.7% during the fourth quarter. GW&K Investment Management LLC now owns 567,849 shares of the specialty chemicals company's stock worth $57,352,000 after acquiring an additional 30,423 shares in the last quarter. James Reed Financial Services Inc. acquired a new position in RPM International during the fourth quarter worth $74,000. Finally, Amalgamated Bank grew its holdings in shares of RPM International by 1.9% during the fourth quarter. Amalgamated Bank now owns 94,931 shares of the specialty chemicals company's stock worth $9,588,000 after purchasing an additional 1,745 shares during the last quarter. 81.69% of the stock is currently owned by institutional investors and hedge funds.

RPM International Company Profile

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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.