Fort Pitt Capital Group Lowers stake in RPM International (RPM)

RPM International (RPM) : Fort Pitt Capital Group reduced its stake in RPM International by 0.92% during the most recent quarter end. The investment management company now holds a total of 269,001 shares of RPM International which is valued at $14,434,594 after selling 2,499 shares in RPM International , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.RPM International makes up approximately 1.71% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in RPM by selling 7,185 shares or 2.54% in the most recent quarter. The Hedge Fund company now holds 275,830 shares of RPM which is valued at $14,801,038. RPM International makes up approx 0.03% of California State Teachers Retirement System’s portfolio.First National Bank Of Omaha boosted its stake in RPM in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 27,399 shares of RPM International which is valued at $1,429,680. RPM International makes up approx 0.11% of First National Bank Of Omaha’s portfolio. Cribstone Capital Management added RPM to its portfolio by purchasing 2,245 company shares during the most recent quarter which is valued at $117,144. RPM International makes up approx 0.07% of Cribstone Capital Management’s portfolio.Raymond James Trust N.a. reduced its stake in RPM by selling 269 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 10,922 shares of RPM which is valued at $562,701. RPM International makes up approx 0.05% of Raymond James Trust N.a.’s portfolio.

RPM International opened for trading at $53.65 and hit $54.46 on the upside on Thursday, eventually ending the session at $54.06, with a gain of 0.75% or 0.4 points. The heightened volatility saw the trading volume jump to 5,67,977 shares. Company has a market cap of $7,197 M.

On the company’s financial health, RPM International reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.01. The company had revenue of $1430.00 million for the quarter, compared to analysts expectations of $1422.65 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.

Many Wall Street Analysts have commented on RPM International. RPM International was Downgraded by Wellington Shields to ” Hold” on Jul 13, 2016.

RPM International Inc. through its subsidiaries manufactures markets and sells various specialty chemical product lines including specialty paints protective coatings roofing systems sealants and adhesives. The Company operates through two segments which include industrial segment and consumer segment. Its industrial segment products are sold throughout North America. Its industrial product lines are sold directly to contractors distributors and end users. The Company’s consumer segment manufactures and markets professional use and do-it-yourself (DIY) products for a range of consumer applications including home improvement and personal leisure activities. Its family of products includes those marketed under brand names such as API Carboline CAVE DAP Day-Glo Dri-Eaz Dryvit Euclid EUCO Fibergrate Flecto Flowcrete Grupo PV Hummervoll illbruck Mohawk Rust-Oleum Stonhard TCI Toxement Tremco Tuf-Strand Universal Sealants Viapol Watco and Zinsser.

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