RPM International Inc. (NYSE:RPM) Announces Dividend Increase – $0.51 Per Share

RPM International Inc. (NYSE:RPM) announced a quarterly dividend on Friday, October 4th, Wall Street Journal reports. Shareholders of record on Friday, October 18th will be paid a dividend of 0.51 per share by the specialty chemicals company on Thursday, October 31st. This represents a $2.04 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, October 18th. This is an increase from RPM International’s previous quarterly dividend of $0.46.

RPM International has raised its dividend by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 50 consecutive years. RPM International has a payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. Analysts expect RPM International to earn $6.18 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 29.8%.

RPM International Trading Up 1.0 %

Shares of NYSE RPM traded up $1.31 during midday trading on Friday, hitting $128.61. The company’s stock had a trading volume of 380,677 shares, compared to its average volume of 648,693. RPM International has a 12-month low of $88.84 and a 12-month high of $129.91. The firm has a market cap of $16.56 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00. The company has a current ratio of 1.97, a quick ratio of 1.32 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $118.25 and its two-hundred day moving average is $113.80.

RPM International (NYSE:RPM) last announced its earnings results on Wednesday, October 2nd. The specialty chemicals company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.09. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $2.01 billion. RPM International had a return on equity of 26.80% and a net margin of 8.02%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 EPS. As a group, equities research analysts expect that RPM International will post 5.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RPM. Morgan Stanley upped their price target on shares of RPM International from $107.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday. Vertical Research raised RPM International from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price target on RPM International from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho reduced their price objective on RPM International from $136.00 to $134.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, StockNews.com cut shares of RPM International from a “buy” rating to a “hold” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, RPM International currently has a consensus rating of “Hold” and a consensus target price of $126.91.

Insider Buying and Selling at RPM International

In related news, CEO Frank C. Sullivan sold 57,083 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $116.06, for a total transaction of $6,625,052.98. Following the completion of the transaction, the chief executive officer now directly owns 1,039,040 shares in the company, valued at $120,590,982.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Matthew T. Ratajczak sold 1,452 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $117.79, for a total transaction of $171,031.08. Following the transaction, the vice president now owns 24,339 shares of the company’s stock, valued at $2,866,890.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank C. Sullivan sold 57,083 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $116.06, for a total transaction of $6,625,052.98. Following the transaction, the chief executive officer now owns 1,039,040 shares in the company, valued at $120,590,982.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

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.