RPM International Inc. (NYSE:RPM) declared a quarterly dividend on Tuesday, April 6th, Wall Street Journal reports. Shareholders of record on Thursday, April 15th will be paid a dividend of 0.38 per share by the specialty chemicals company on Friday, April 30th. This represents a $1.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, April 14th.
RPM International has increased its dividend by 19.7% over the last three years and has increased its dividend annually for the last 19 consecutive years.
Shares of RPM opened at $90.21 on Thursday. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The stock’s fifty day moving average is $87.06 and its 200-day moving average is $87.14. RPM International has a one year low of $61.22 and a one year high of $98.35. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.43 and a current ratio of 2.17.
Several brokerages have recently issued reports on RPM. BMO Capital Markets lifted their price target on RPM International from $109.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, January 7th. Vertical Research raised shares of RPM International from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Thursday, March 4th. Morgan Stanley downgraded shares of RPM International from an “overweight” rating to an “equal weight” rating in a report on Monday, December 14th. Zacks Investment Research cut shares of RPM International from a “buy” rating to a “hold” rating and set a $92.00 target price for the company. in a report on Thursday, January 7th. Finally, Royal Bank of Canada cut RPM International from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $102.00 to $98.00 in a report on Friday, January 8th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $93.50.
In related news, CFO Russell L. Gordon sold 9,668 shares of the stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $84.89, for a total value of $820,716.52. Following the completion of the sale, the chief financial officer now directly owns 103,997 shares of the company’s stock, valued at approximately $8,828,305.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Edward W. Moore sold 8,811 shares of the firm’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $86.68, for a total value of $763,737.48. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
About RPM International
RPM International, Inc engages in the manufacture, marketing, and sale of coatings, sealants, building materials, and related services. It operates through the following business segments: Industrial, Consumer, and Specialty. The Industrial segment is the maintenance and protection products for roofing and waterproofing systems, flooring, passive fire protection, corrosion control, high-performance sealing and bonding solutions, infrastructure rehabilitation and repair, and other construction chemicals.
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