RPM International Inc. (NYSE:RPM) Sees Significant Increase in Short Interest
by Michael Walen · The Markets DailyRPM International Inc. (NYSE:RPM – Get Free Report) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 2,265,281 shares, a growth of 29.5% from the December 31st total of 1,749,907 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average trading volume of 1,626,855 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 1,626,855 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.8% of the company’s shares are sold short.
RPM International Stock Performance
Shares of NYSE RPM traded up $3.40 during midday trading on Tuesday, reaching $110.91. 1,924,106 shares of the company were exchanged, compared to its average volume of 1,194,760. The stock has a market cap of $14.21 billion, a P/E ratio of 21.37, a PEG ratio of 2.58 and a beta of 1.10. RPM International has a 1 year low of $95.28 and a 1 year high of $129.12. The stock has a fifty day simple moving average of $107.16 and a 200 day simple moving average of $113.33. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.80.
RPM International (NYSE:RPM – Get Free Report) last posted its quarterly earnings data on Thursday, January 8th. The specialty chemicals company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.21). RPM International had a return on equity of 22.49% and a net margin of 8.79%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts forecast that RPM International will post 5.5 earnings per share for the current fiscal year.
RPM International Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were given a dividend of $0.54 per share. The ex-dividend date was Friday, January 16th. This represents a $2.16 dividend on an annualized basis and a yield of 1.9%. RPM International’s dividend payout ratio is presently 41.62%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on RPM shares. Bank of America upgraded shares of RPM International from a “neutral” rating to a “buy” rating and upped their target price for the company from $126.00 to $129.00 in a report on Tuesday, October 14th. Zacks Research downgraded shares of RPM International from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Citigroup dropped their price objective on RPM International from $136.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. JPMorgan Chase & Co. raised RPM International from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $117.00 to $115.00 in a report on Friday, January 9th. Finally, Morgan Stanley reissued a “buy” rating on shares of RPM International in a research report on Thursday, January 8th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.75.
Check Out Our Latest Research Report on RPM
Insiders Place Their Bets
In related news, VP Timothy R. Kinser sold 3,441 shares of RPM International stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $110.31, for a total value of $379,576.71. Following the completion of the transaction, the vice president owned 21,248 shares in the company, valued at approximately $2,343,866.88. The trade was a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
Institutional Trading of RPM International
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Trust Walden Corp lifted its holdings in RPM International by 8.5% in the third quarter. Boston Trust Walden Corp now owns 652,716 shares of the specialty chemicals company’s stock valued at $76,942,000 after acquiring an additional 51,152 shares during the period. Fairway Wealth LLC increased its holdings in shares of RPM International by 4.4% in the 3rd quarter. Fairway Wealth LLC now owns 224,336 shares of the specialty chemicals company’s stock valued at $26,445,000 after purchasing an additional 9,409 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of RPM International in the second quarter valued at about $2,791,000. Pacer Advisors Inc. boosted its holdings in RPM International by 242.2% during the third quarter. Pacer Advisors Inc. now owns 19,768 shares of the specialty chemicals company’s stock worth $2,330,000 after buying an additional 13,992 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in RPM International by 105.9% during the second quarter. SG Americas Securities LLC now owns 10,512 shares of the specialty chemicals company’s stock worth $1,155,000 after buying an additional 5,406 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.
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.