Corebridge Financial Inc. Has $17.96 Million Stake in RPM International Inc. (NYSE:RPM)

Corebridge Financial Inc. reduced its stake in shares of RPM International Inc. (NYSE:RPM) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,949 shares of the specialty chemicals company’s stock after selling 6,684 shares during the quarter. Corebridge Financial Inc.’s holdings in RPM International were worth $17,960,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of RPM International by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,656,684 shares of the specialty chemicals company’s stock worth $320,851,000 after purchasing an additional 145,070 shares during the last quarter. Bank of New York Mellon Corp boosted its position in RPM International by 6.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,430,472 shares of the specialty chemicals company’s stock valued at $176,034,000 after buying an additional 87,540 shares in the last quarter. GW&K Investment Management LLC grew its stake in RPM International by 0.8% during the fourth quarter. GW&K Investment Management LLC now owns 606,270 shares of the specialty chemicals company’s stock worth $74,607,000 after buying an additional 4,536 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of RPM International by 3.2% during the fourth quarter. Boston Trust Walden Corp now owns 509,601 shares of the specialty chemicals company’s stock worth $62,712,000 after buying an additional 15,602 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of RPM International by 2.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 247,498 shares of the specialty chemicals company’s stock valued at $30,457,000 after acquiring an additional 5,947 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

RPM International Stock Performance

RPM International stock opened at $116.65 on Tuesday. RPM International Inc. has a 1 year low of $103.69 and a 1 year high of $141.79. The company’s 50-day moving average is $122.36 and its two-hundred day moving average is $126.63. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.74. The company has a market cap of $15.00 billion, a PE ratio of 23.05, a PEG ratio of 1.97 and a beta of 1.00.

RPM International (NYSE:RPM) last announced its quarterly earnings data on Tuesday, January 7th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.79 billion. RPM International had a net margin of 8.89% and a return on equity of 26.76%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. Equities analysts anticipate that RPM International Inc. will post 5.5 earnings per share for the current year.

RPM International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, January 17th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.75%. RPM International’s dividend payout ratio (DPR) is presently 40.32%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RPM. StockNews.com lowered RPM International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company upgraded RPM International from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $134.00 to $140.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on shares of RPM International from $126.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI upgraded shares of RPM International to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, UBS Group upped their target price on shares of RPM International from $123.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

RPM International Profile

RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and traditional 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; fire stopping and intumescent steel coating, and manufacturing industry solutions; 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.