RPM International Inc. (NYSE:RPM) announced a quarterly dividend on Friday, October 8th, Wall Street Journal reports. Stockholders of record on Monday, October 18th will be given a dividend of 0.40 per share by the specialty chemicals company on Friday, October 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, October 15th. This is a positive change from RPM International’s previous quarterly dividend of $0.38.
RPM International has increased its dividend payment by 19.7% over the last three years and has raised its dividend annually for the last 1 consecutive years. RPM International has a payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RPM International to earn $4.63 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 32.8%.
RPM opened at $80.24 on Wednesday. The business’s 50-day simple moving average is $81.68 and its 200-day simple moving average is $88.22. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.38 and a current ratio of 2.09. RPM International has a one year low of $76.43 and a one year high of $99.30. The stock has a market capitalization of $10.41 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 4.04 and a beta of 0.95.
A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut RPM International from a “neutral” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research report on Wednesday, June 23rd. Wells Fargo & Company dropped their price target on RPM International from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 7th. Royal Bank of Canada dropped their price target on RPM International from $89.00 to $87.00 and set a “sector perform” rating on the stock in a research report on Friday, October 8th. Finally, BMO Capital Markets dropped their price target on RPM International from $107.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.71.
RPM International Company Profile
RPM International, Inc engages in the manufacture, marketing, and sale of coatings, sealants, building materials, and related services. It operates through the following business segments: Construction Products Group (CPG); Performance Coatings Group (PCG); Consumer Group; and Specialty Products Group (SPG).
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