Eastern Bank Acquires Shares of 336 RPM International Inc. (NYSE:RPM)

Eastern Bank acquired a new stake in RPM International Inc. (NYSE:RPM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 336 shares of the specialty chemicals company’s stock, valued at approximately $41,000.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of RPM International by 15.5% during the second quarter. GAMMA Investing LLC now owns 933 shares of the specialty chemicals company’s stock valued at $100,000 after buying an additional 125 shares during the period. Summit Financial LLC increased its position in shares of RPM International by 5.9% during the second quarter. Summit Financial LLC now owns 2,514 shares of the specialty chemicals company’s stock valued at $271,000 after buying an additional 141 shares during the period. SVB Wealth LLC increased its position in shares of RPM International by 3.0% during the first quarter. SVB Wealth LLC now owns 5,491 shares of the specialty chemicals company’s stock valued at $653,000 after buying an additional 159 shares during the period. Motley Fool Asset Management LLC increased its position in shares of RPM International by 8.1% during the first quarter. Motley Fool Asset Management LLC now owns 2,631 shares of the specialty chemicals company’s stock valued at $313,000 after buying an additional 197 shares during the period. Finally, Cambridge Trust Co. increased its position in shares of RPM International by 273.3% during the first quarter. Cambridge Trust Co. now owns 336 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.

RPM International Trading Down 1.3 %

NYSE:RPM opened at $128.45 on Friday. The company’s 50 day moving average price is $123.05 and its 200-day moving average price is $115.41. RPM International Inc. has a 52 week low of $88.84 and a 52 week high of $134.56. The company has a quick ratio of 1.48, a current ratio of 2.26 and a debt-to-equity ratio of 0.77. The stock has a market cap of $16.53 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.95 and a beta of 1.00.

RPM International (NYSE:RPM) last posted its quarterly earnings results on Wednesday, October 2nd. The specialty chemicals company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts forecast that RPM International Inc. will post 5.55 earnings per share for the current fiscal year.

RPM International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 18th will be issued a $0.51 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.04 annualized dividend and a yield of 1.59%. This is a boost from RPM International’s previous quarterly dividend of $0.46. RPM International’s dividend payout ratio (DPR) is currently 42.77%.

Insider Buying and Selling

In related news, VP Matthew T. Ratajczak sold 1,452 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $117.79, for a total value of $171,031.08. Following the sale, the vice president now owns 24,339 shares in the company, valued at approximately $2,866,890.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other RPM International news, CEO Frank C. Sullivan sold 57,083 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $116.06, for a total value of $6,625,052.98. Following the transaction, the chief executive officer now directly owns 1,039,040 shares in the company, valued at approximately $120,590,982.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Matthew T. Ratajczak sold 1,452 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $117.79, for a total transaction of $171,031.08. Following the completion of the transaction, the vice president now owns 24,339 shares in the company, valued at $2,866,890.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,409 shares of company stock worth $7,699,553. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RPM shares. 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 report on Thursday, October 3rd. Mizuho decreased their target price on shares of RPM International from $136.00 to $134.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of RPM International from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on shares of RPM International from $107.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised their target price on shares of RPM International from $125.00 to $134.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, RPM International has a consensus rating of “Hold” and an average price target of $129.70.

RPM International 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.