Fintel reports that BlackRock Inc. has filed a 13G form with the SEC disclosing ownership of 12,356,583 shares of RPM International Inc. (RPM). This represents 9.6% of the company.
In their previous filing dated February 1, 2022 they reported 11,513,070 shares and 8.90% of the company, an increase in shares of 7.33% and an increase in total ownership of 0.70% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 14.79% Upside
As of January 24, 2023, the average one-year price target for RPM International is $100.03. The forecasts range from a low of $83.83 to a high of $124.95. The average price target represents an increase of 14.79% from its latest reported closing price of $87.14.
The projected annual revenue for RPM International is $7,377MM, an increase of 3.29%. The projected annual EPS is $4.67, an increase of 13.20%.
Fund Sentiment
There are 1070 funds or institutions reporting positions in RPM International Inc.. This is an increase of 31 owner(s) or 2.98%.
Average portfolio weight of all funds dedicated to RPM International Inc. is 0.2628%, an increase of 3.4921%. Total shares owned by institutions increased in the last three months by 0.77% to 124,158,939 shares.
What are large shareholders doing?
Aristotle Capital Management, LLC holds 11,303,722 shares representing 8.76% ownership of the company. In it's prior filing, the firm reported owning 11,635,694 shares, representing a decrease of 2.94%. The firm increased its portfolio allocation in RPM by 8.22% over the last quarter.
Price T Rowe Associates Inc /md/ holds 6,212,421 shares representing 4.81% ownership of the company. In it's prior filing, the firm reported owning 12,019,219 shares, representing a decrease of 93.47%. The firm decreased its portfolio allocation in RPM by 68.36% over the last quarter.
T. Rowe Price Investment Management, Inc. holds 5,438,838 shares representing 4.21% ownership of the company.
Atlanta Capital Management Co L L C holds 4,185,536 shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 4,205,570 shares, representing a decrease of 0.48%. The firm increased its portfolio allocation in RPM by 8.90% over the last quarter.
Victory Capital Management Inc holds 3,142,742 shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 2,969,705 shares, representing an increase of 5.51%. The firm increased its portfolio allocation in RPM by 14.72% over the last quarter.
RPM International Declares $$0.42 Dividend
RPM International said on January 3, 2023 that its board of directors declared a regular quarterly dividend of $0.42 per share ( $1.68 annualized). Shareholders of record as of January 19, 2023 will receive the payment on January 31, 2023. Previously, the company paid $0.42 per share.
At the most recent share price of $87.14 / share, the stock's dividend yield is 1.93%. Additionally, the company's dividend payout ratio is 0.41, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.
The company's 3-Year dividend growth rate is 0.17%, demonstrating that it consistently increased its dividends over time.
RPM International, Inc. Background Information
(This description is provided by the company.)
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products. RPM has a diverse portfolio with hundreds of market-leading brands, including Rust-Oleum, DAP, Zinsser, Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit. From homes and workplaces, to infrastructure and precious landmarks, RPM's brands are trusted by consumers and professionals alike to help build a better world. The company employs approximately 14,600 individuals worldwide.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
