RPM International Inc. (NYSE:RPM) declared 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 2.00%. 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 by 19.7% over the last three years and has raised its dividend every year for the last 1 years. RPM International has a payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. 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 stock opened at $80.03 on Thursday. The business’s 50-day simple moving average is $81.59 and its 200 day simple moving average is $88.16. The company has a quick ratio of 1.38, a current ratio of 2.09 and a debt-to-equity ratio of 1.36. RPM International has a twelve month low of $76.43 and a twelve month high of $99.30. The company has a market cap of $10.38 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 4.04 and a beta of 0.95.
Several analysts recently commented on RPM shares. BMO Capital Markets decreased their price target on RPM International from $107.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 27th. Royal Bank of Canada reduced their target price on shares of RPM International from $89.00 to $87.00 and set a “sector perform” rating on the stock in a research note on Friday, October 8th. Wells Fargo & Company decreased their target price on RPM International from $95.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, October 7th. Finally, JPMorgan Chase & Co. cut shares of RPM International from a “neutral” rating to an “underweight” rating and set a $90.00 price objective for the company. in a report on Wednesday, June 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, RPM International 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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