RPM International Inc. (NYSE:RPM) Sees Large Drop in Short Interest - MarketBeat

2022-08-20 06:35:22 By : Ms. Bernice Lau

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RPM International Inc. (NYSE:RPM - Get Rating) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 2,240,000 shares, a decrease of 21.4% from the July 15th total of 2,850,000 shares. Approximately 1.8% of the company's stock are sold short. Based on an average trading volume of 597,800 shares, the days-to-cover ratio is currently 3.7 days. Analyst Ratings Changes

RPM has been the topic of several recent research reports. TheStreet upgraded shares of RPM International from a "c+" rating to a "b" rating in a research report on Monday, July 25th. Bank of America lowered their target price on RPM International from $90.00 to $78.00 and set an "underperform" rating for the company in a research report on Wednesday, July 13th. Credit Suisse Group started coverage on RPM International in a research report on Monday, June 27th. They issued an "outperform" rating and a $95.00 price target on the stock. Finally, StockNews.com raised shares of RPM International from a "hold" rating to a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $96.75.Insiders Place Their Bets

In other news, Director Frederick R. Nance sold 2,600 shares of RPM International stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $89.24, for a total transaction of $232,024.00. Following the completion of the transaction, the director now directly owns 9,049 shares in the company, valued at approximately $807,532.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Matthew T. Ratajczak sold 993 shares of the company's stock in a transaction on Friday, July 29th. The stock was sold at an average price of $90.02, for a total transaction of $89,389.86. Following the completion of the sale, the vice president now directly owns 55,546 shares in the company, valued at approximately $5,000,250.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick R. Nance sold 2,600 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $89.24, for a total transaction of $232,024.00. Following the completion of the transaction, the director now directly owns 9,049 shares in the company, valued at $807,532.76. The disclosure for this sale can be found here. Insiders sold a total of 5,701 shares of company stock valued at $506,370 in the last quarter. 1.60% of the stock is currently owned by insiders. Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RPM. Jones Financial Companies Lllp acquired a new stake in shares of RPM International in the 1st quarter worth about $36,000. Norwood Financial Corp bought a new position in shares of RPM International during the 4th quarter valued at approximately $38,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of RPM International during the 2nd quarter worth approximately $47,000. Retirement Planning Co of New England Inc. bought a new stake in shares of RPM International in the 4th quarter worth approximately $53,000. Finally, Confluence Wealth Services Inc. purchased a new position in RPM International in the fourth quarter valued at approximately $65,000. 79.96% of the stock is owned by institutional investors. RPM International Trading Up 1.8 %

RPM opened at $93.26 on Friday. The company has a fifty day moving average price of $83.44 and a two-hundred day moving average price of $84.23. RPM International has a 1-year low of $74.56 and a 1-year high of $101.48. The company has a market cap of $12.03 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 4.35 and a beta of 0.96. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.05.

RPM International (NYSE:RPM - Get Rating) last posted its quarterly earnings results on Monday, July 25th. The specialty chemicals company reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.44 by ($0.02). RPM International had a return on equity of 25.57% and a net margin of 7.33%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company posted $1.28 earnings per share. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. Analysts predict that RPM International will post 4.31 EPS for the current fiscal year. RPM International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.72%. The ex-dividend date was Thursday, July 14th. RPM International's payout ratio is currently 42.22%. About RPM International (Get Rating)

RPM International Inc manufactures, markets, and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and institutional 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; solutions for fire stopping and intumescent steel coating, and manufacturing industry; 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.Further ReadingGet a free copy of the StockNews.com research report on RPM International (RPM)2 Important Retail Stock Battles to WatchMarketBeat: Week in Review 8/8 - 8/12What Is WallStreetBets and What Stocks Are They Targeting?Institutions And Analysts Propel Jack In The Box Higher Can You Guess Which EV Stock Is Beating Tesla ?

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