The selling by two sizable asset managers (Assenagon and Fjarde Ap-Fonden) outweighs the small buying by three advisors, suggesting institutional caution despite the earnings beat. Monitor next quarter's 13F for continued selling or reversal, and watch for any insider buying to corroborate the bullish earnings signal.
Executive Summary
Institutional activity in RPM during Q3 2026 was mixed: three small asset managers added positions totaling $1.4M, while two larger asset managers reduced holdings by $13.6M, including a near-exit by Fjarde Ap-Fonden. The net selling by larger institutions contrasts with the company's record Q1 2027 earnings beat, but the cautious full-year guidance may explain the divergence.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$12.2M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Wealth Enhancement Advisory Services | ADD | +46.8% | $5.0M | $1.2M |
| Concurrent Investment Advisors | ADD | +62.5% | $591.0K | $182.0K |
| Td Waterhouse Canada | DOUBLED | +211% | $73.0K | $47.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -49.2% | $17.8M | -$9.8M |
| Fjarde Ap-Fonden /Fourth Swedish National | NEAR_EXIT | -92.3% | $4.1M | -$3.8M |
Key Facts
- 3 buyers added $1.4M in net new positions; 2 sellers reduced by $13.6M
- Largest seller Assenagon Asset Management trimmed 49.2% of its stake, removing $9.8M
- Fjarde Ap-Fonden nearly exited, selling 92.3% of its position ($3.8M)
- Wealth Enhancement Advisory Services added $1.2M (+46.8% shares)
- Cluster follows RPM's record Q1 2027 earnings beat but narrowed full-year guidance
Financial Impact
Net institutional selling of $12.2M ($1.4M bought vs $13.6M sold) in Q3 2026
Risk Factors
- 13F data is 45+ days stale; positions may have changed since quarter-end
- Net selling by larger institutions may signal skepticism about full-year guidance
- Small buyer base (mostly advisors) carries less conviction signal than large active managers
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-RPM-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 9d ago | Institutional Cluster | $99.48 | awaiting T+60 | — | — |
Oct 13, 2026 12d ago | 3 | $97.95 | awaiting T+60 | — | — |
Oct 13, 2026 12d ago | 8-K | $97.95 | awaiting T+60 | — | — |
Oct 6, 2026 20d ago | 8-K | $98.31 | awaiting T+60 | — | — |
Jul 22, 2026 13w ago | 8-K | $107.43 $100.09 | ▼ −6.83% | ▼ −10.09% | — |
Jun 17, 2026 18w ago | Institutional Cluster | $107.02 $100.21 | ▼ −6.36% | ▼ −9.51% | — |
Jun 2, 2026 20w ago | 8-K | $103.41 $105.63 | ▲ +2.15% | ▼ −0.09% | — |
Apr 8, 2026 28w ago | 8-K | $108.74 $111.62 | ▲ +2.65% | ▼ −7.53% | — |
Mar 5, 2026 33w ago | 8-K | $101.67 $104.62 | ▲ +2.90% | ▼ −9.88% | — |
US Market Status
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