Cincinnati Insurance Co Lowers stake in RPM International (RPM)

RPM International (RPM) : Cincinnati Insurance Co reduced its stake in RPM International by 19.45% during the most recent quarter end. The investment management company now holds a total of 1,267,303 shares of RPM International which is valued at $68,789,207 after selling 306,015 shares in RPM International , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.RPM International makes up approximately 2.21% of Cincinnati Insurance Co’s portfolio.

Other Hedge Funds, Including , Edge Asset Management Inc reduced its stake in RPM by selling 4,191 shares or 1.26% in the most recent quarter. The Hedge Fund company now holds 329,098 shares of RPM which is valued at $18,097,099. RPM International makes up approx 0.16% of Edge Asset Management Inc’s portfolio. Rockefeller Financial Services Inc sold out all of its stake in RPM during the most recent quarter. The investment firm sold 140 shares of RPM which is valued $7,204.

RPM International closed down -0.09 points or -0.17% at $54.02 with 4,32,133 shares getting traded on Wednesday. Post opening the session at $54.04, the shares hit an intraday low of $53.81 and an intraday high of $54.06 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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