Korea Investment CORP Acquires New Holdings in RPM International Inc. $RPM

Korea Investment CORP acquired a new stake in RPM International Inc. (NYSE:RPM) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 50,860 shares of the specialty chemicals company’s stock, valued at approximately $5,653,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of RPM International during the 2nd quarter worth approximately $1,456,684,000. Bank of New York Mellon Corp acquired a new position in shares of RPM International during the 2nd quarter worth approximately $118,220,000. PFA Pension Forsikringsaktieselskab acquired a new position in shares of RPM International during the 4th quarter worth approximately $54,307,000. California State Teachers Retirement System raised its stake in RPM International by 14.5% in the 4th quarter. California State Teachers Retirement System now owns 394,860 shares of the specialty chemicals company’s stock valued at $41,065,000 after acquiring an additional 49,979 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in RPM International by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company’s stock valued at $37,260,000 after acquiring an additional 888 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of RPM International from $126.00 to $128.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of RPM International in a research note on Friday, July 24th. Citigroup lifted their target price on shares of RPM International from $125.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, May 29th. UBS Group raised shares of RPM International from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $130.00 in a report on Wednesday, May 27th. Finally, Wall Street Zen downgraded shares of RPM International from a “buy” rating to a “hold” rating in a research report on Saturday. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, RPM International has an average rating of “Moderate Buy” and a consensus price target of $126.00.

RPM International Stock Down 2.1%

RPM opened at $106.38 on Tuesday. The stock has a fifty day moving average of $109.24 and a 200-day moving average of $106.71. The company has a market capitalization of $13.59 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.22 and a beta of 1.04. RPM International Inc. has a fifty-two week low of $92.92 and a fifty-two week high of $128.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.68.

RPM International (NYSE:RPM) last released its quarterly earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.83 by $0.06. RPM International had a net margin of 8.41% and a return on equity of 22.45%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the company posted $1.72 earnings per share. RPM International’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that RPM International Inc. will post 6 EPS for the current year.

RPM International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th were issued a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $2.16 dividend on an annualized basis and a yield of 2.0%. RPM International’s payout ratio is currently 41.86%.

RPM International Company Profile

RPM International Inc is a global holding company whose subsidiaries specialize in the manufacture and marketing of high-performance coatings, sealants, building materials, and specialty chemicals. Through its two principal operating segments—Performance Coatings and Industrial Coatings—RPM serves a diverse range of end markets, including construction, consumer products, industrial maintenance, and specialty applications.

The company’s Performance Coatings segment offers a broad portfolio of architectural coatings, waterproofing systems, and specialty building products used by contractors, builders, and homeowners.