RPM International Inc. (NYSE:RPM) Increases Dividend to $0.57 Per Share

RPM International Inc. (NYSE:RPM) announced a quarterly dividend on Thursday, October 8th. Investors of record on Tuesday, October 20th will be given a dividend of $0.57 per share by the specialty chemicals company on Friday, October 30th. This represents a $2.28 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, October 20th. This is a 5.6% increase from RPM International’s previous quarterly dividend of $0.54.

RPM International has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 51 consecutive years. RPM International has a payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect RPM International to earn $6.61 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 32.7%.

RPM International Stock Up 1.1%

Shares of NYSE RPM opened at $99.40 on Friday. RPM International has a 52-week low of $92.92 and a 52-week high of $121.78. The firm has a fifty day moving average of $105.13 and a 200-day moving average of $104.65. The stock has a market capitalization of $12.68 billion, a PE ratio of 18.41, a P/E/G ratio of 2.02 and a beta of 1.05. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.57.

RPM International (NYSE:RPM) last released its quarterly earnings data on Tuesday, October 6th. The specialty chemicals company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.03. RPM International had a return on equity of 22.03% and a net margin of 8.66%.The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the firm posted $1.88 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts anticipate that RPM International will post 5.96 EPS for the current year.

Wall Street Analysts Forecast Growth

RPM has been the subject of several research analyst reports. UBS Group dropped their price target on RPM International from $142.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank Of Canada reduced their price objective on RPM International from $128.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on RPM International from $126.00 to $115.00 and set a “buy” rating for the company in a report on Thursday. KeyCorp began coverage on shares of RPM International in a research report on Friday, September 11th. They set an “overweight” rating and a $123.00 target price for the company. Finally, Wall Street Zen lowered shares of RPM International from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, RPM International presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.31.

RPM International Company Profile

RPM International Inc is a multinational manufacturer of specialty coatings, sealants, building materials and related products. The company serves the construction, industrial, automotive, marine and consumer markets through a portfolio of businesses that develop products for protecting, repairing, maintaining and enhancing surfaces and structures.

Its brands and businesses include Rust-Oleum consumer and industrial coatings, DAP caulks and sealants, Tremco and Euclid Chemical construction products, Carboline protective coatings, Stonhard seamless flooring systems and Flowcrete flooring products.