RPM: 39-years of Raises
RPM International (RPM) stretched its string of consecutive, annual dividend hikes to 39 years today.
The holding company for Rust-o-leum, DAP and a number of other consumer and industrial coatings, flooring, sealant, and specialty chemical brands bumped the quarterly payout by a penny. It's a small raise, only a 4.7% increase - more than gov't reported inflation reports, but less than the rate of rising gas prices in CA. The new yield is around 3.3%.
The stock isn't a screaming buy at 16.5 times trailing earnings, 13 times next year's estimate. The product mix should make it a decent proxy for construction both in and out of the US.
Investors can expect to see acquistions of smaller companies. The latest quarterly lists three acquisitions. Not sure how a nail polish company will fit in the mix of brands, but now they've got one. The other two are a US deck and concrete restoration products company and a Brazilian building materials company.
Disclosure: Long RPM. At this price, I'm not looking to add. Not looking to sell either.