RPM International Inc. (NYSE:RPM) Increases Dividend to $0.51 Per Share

RPM International Inc. (NYSE:RPM) declared a quarterly dividend on Thursday, October 3rd, Wall Street Journal reports. Investors of record on Friday, October 18th will be given a dividend of 0.51 per share by the specialty chemicals company on Thursday, October 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, October 18th. This is a positive change from RPM International’s previous quarterly dividend of $0.46.

RPM International has increased its dividend by an average of 5.6% annually over the last three years and has increased its dividend annually for the last 50 consecutive years. RPM International has a payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.3 %

RPM stock opened at $128.92 on Friday. The stock has a market capitalization of $16.60 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00. The company has a fifty day moving average of $118.25 and a 200-day moving average of $113.80. RPM International has a one year low of $88.84 and a one year high of $129.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.32 and a current ratio of 1.97.

RPM International (NYSE:RPM) last issued 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 company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.01 billion. RPM International had a net margin of 8.02% and a return on equity of 26.80%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.64 earnings per share. As a group, analysts expect that RPM International will post 5.51 EPS for the current year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Morgan Stanley increased their price objective 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. Royal Bank of Canada boosted their price target on RPM International from $120.00 to $126.00 and gave the stock a “sector perform” rating in a report on Thursday. Vertical Research raised shares of RPM International from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Tuesday, July 16th. UBS Group dropped their price objective on shares of RPM International from $122.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company raised their price objective on RPM International from $125.00 to $134.00 and gave the stock an “equal weight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $126.91.

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.