Rpm Inc Stock Price, News & Analysis

RPM International Inc. has acquired a 178,000-square-foot chemical manufacturing facility in Corsicana, Texas, from ChampionX Corporation. This facility will be utilized by RPM's Tremco Construction Products Group to expand production capacity for high-growth product lines and enhance operational efficiencies. The acquisition includes plans to retain over 80 existing employees and potentially hire more in the future. CEO Frank C. Sullivan emphasized the strategic benefits of the purchase, which allows RPM to avoid the costs and environmental impacts associated with constructing a new plant.

RPM International Inc. (NYSE: RPM) announced the promotion of Bill Spaulding to president of the RPM Consumer Group, effective September 1, succeeding retiring Terry Horan. Spaulding has a 22-year history at Rust-Oleum, recently serving as president of North America. Jeff Ackerberg will take over as president of Rust-Oleum, while Mark Heird will lead DAP Products. The leadership changes aim to enhance growth and profitability within the Consumer Group, reflecting the company's commitment to internal talent development. RPM operates in specialty coatings and building materials.

RPM International Inc. announced the acquisition of Pure Air Control Services, a Florida-based provider of indoor air quality solutions, with annual net sales of approximately $10 million. The acquisition aims to enhance RPM's Tremco Construction Products Group by integrating Pure Air's expertise in environmental consulting, building diagnostics, and HVAC system cleaning. The move is expected to strengthen market penetration through synergies and the company's robust operational infrastructure.

RPM International has appointed Mark T. Rankin as vice president of global systems, effective July 22. Rankin, who has been with the company for over 18 years, will oversee system implementations, data analytics, and global software strategies while continuing his role in digital transformation. He previously served as senior director of global systems and vice president of information technology at RPM’s Specialty Products Group. Chairman Frank C. Sullivan emphasized Rankin's leadership as crucial for the company's growth and stakeholder value.

RPM International announced that Michael J. Laroche will take over as vice president, controller, and chief accounting officer effective November 1, succeeding Keith Smiley, who is retiring. Laroche has been with RPM since 2016, serving in various financial roles, including CFO of the Specialty Products Group. During his tenure, he enhanced reporting and analysis capabilities, particularly during the challenges posed by the Covid pandemic. Smiley has been with RPM for nearly 30 years, contributing to significant revenue growth from $550 million to $6.1 billion.

RPM International reported robust fiscal 2021 results, with net sales at $6.1 billion, up 10.9%. Net income surged 65% to $502.6 million, while cash flow climbed 40% to a record $766.2 million. Fourth-quarter net sales reached $1.74 billion, marking a 19.6% increase, and diluted EPS rose 42.9% to $1.20. The company concluded its MAP to Growth initiative, yielding $320 million in annualized cost savings. Despite facing inflationary pressures and supply chain constraints, RPM anticipates continued growth across most segments, particularly Construction Products and Performance Coatings.

RPM International has declared a quarterly cash dividend of $0.38 per share, payable on July 30, 2021, to stockholders of record as of July 15, 2021. This marks the 47th consecutive year of dividend increases, with the last increase being 5.6% in October 2020. RPM has returned approximately $2.6 billion in cash dividends to stockholders during this period. Currently, RPM's dividend yield at a share price of $90 stands at 1.69%.

RPM International Inc. (NYSE: RPM) will release its fiscal 2021 fourth quarter and year financial results on July 26, 2021, before market opens. Results will be available via newswire and on the company's website, www.RPMinc.com. A conference call is scheduled at 10:00 a.m. EDT to discuss the results, accessible via webcast or phone, with replay available post-call. RPM operates in specialty coatings and building materials across four segments, employing around 14,600 individuals globally.

RPM International Inc. has appointed American Stock Transfer & Trust Company, LLC as its new stock transfer agent and registrar effective immediately. This change does not require any action from stockholders at this time. RPM operates through four main segments including consumer and construction products, and holds a diverse portfolio of well-known brands such as Rust-Oleum and DAP, employing approximately 14,600 people globally. The transition aims to enhance service quality for RPM's common stock shareholders.