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RPM International's Stock Soars on Brink of Dividend Milestone
ByAinvest
Monday, Jul 1, 2024 11:45 pm ET1min read
RPM International is poised to achieve a notable milestone, with its shares rising 5.7% to $98.09. Known for Rust-Oleum spray paint, RPM stock outperformed the S&P 500 and Dow Jones Industrial Average in late trading.
RPM International (NYSE: RPM), the Ohio-based manufacturer of coatings, sealants, and building materials, experienced a significant boost in its stock price last week, with shares rising 5.7% to $98.09 [1]. This outperformance of the S&P 500 and Dow Jones Industrial Average is a testament to RPM's strong fundamentals and growth prospects.
RPM's consumer brands, which include DAP caulk, Rust-Oleum paints, and Varathane stains, have been a driving force behind the company's success. With a focus on innovation and expansion, RPM has managed to grow its revenue and profitability consistently over the past five decades [1].
One of the most notable achievements of RPM is its impressive dividend growth record. The company has paid dividends for 50 consecutive years, with each payment higher than the previous one [1]. This makes RPM a dividend champion in the industry, providing a reliable source of income for investors.
Moreover, RPM's global reach sets it apart from its competitors. The company sells its products in more than 160 countries and is well-positioned to take advantage of global economic trends [1]. Recent infrastructure projects, the onshoring of manufacturing, and expansion in airports are expected to provide a strong runway for growth in the next 1.5 to two years [1].
According to market data, RPM's stock has a market capitalization of $9.45 billion, with 129.68 million shares outstanding [2]. The company's beta is 0.96, indicating that it is less volatile than the overall market [2]. RPM's P/E ratio is 28.63, which is slightly higher than the industry average, reflecting the company's growth prospects [2].
In conclusion, RPM International's impressive growth trajectory, strong brand portfolio, and dividend growth record make it an attractive investment opportunity. With a focus on innovation, expansion, and global reach, RPM is well-positioned to continue delivering value to its shareholders.
References:
[1] Barron's. (2023, December 1). Buy RPM Stock Price Pick: Dividend. https://www.barrons.com/articles/buy-rpm-stock-price-pick-dividend-03661daf
[2] MarketWatch. (n.d.). RPM Stock Quote & News. https://www.marketwatch.com/investing/stock/rpm
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