Smart Dividend Portfolio Edition #83: Durable Dividends
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Dear Investor,
Welcome to the 83rd edition of TipRanks’ Smart Dividend Portfolio & Newsletter.
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Market-Moving News: Oct 20, 2025
Markets ended a volatile week on a high note, as strong earnings results helped quell fears over high-tech valuations and the health of regional banks. At the same time, hopes arose for a respite in U.S.-China trade tensions. The Dow Jones Industrial Average (DJIA) ended the week up 1.56%, the S&P 500 (SPX) gained 1.70%, and the large-cap tech benchmark Nasdaq-100 (NDX) rallied 2.46%.
October is statistically the most volatile month for stocks, with a track record of sharp fluctuations dating back to the late 1800s. So far, it’s living up to its name. Last week’s trading was notably volatile, although it started off on a positive note as the U.S. and China appeared to walk back some of the prior trade escalation and Fed officials provided dovish comments, supporting rate-cut outlook. Several large AI deals – including strategic investments and cloud infrastructure contracts – boosted sentiment in technology stocks, supporting the broader rally early in the week. Earnings season also began in earnest, with the largest U.S. banks’ better-than-expected results contributing to market gains.
Fed Chair Jerome Powell seemed to indicate that the central bank remains on track to cut short-term interest rates again at its next meeting, noting that the “downside risks to employment” have shifted the balance of risks in the economy. On Wednesday, the Fed also released its Beige Book – a wide-scale report on economic conditions – which showed that economic activity was little changed since the previous report, reflecting a mixed picture across districts. While employment levels held steady and wages rose, consumer spending weakened, prices continued climbing, and more employers signaled layoff plans.
Thursday saw stocks give back gains after two large regional banks disclosed problems with loans, fueling investor concerns about rising risks in the credit market and the broader health of the regional banking industry. However, stocks clawed back from their losses after several other regional banks reported solid results, easing investor fears. News that Treasury Secretary Scott Bessent will speak with his Chinese counterpart on trade, coupled with President Trump’s comments that the high tariffs on China wouldn’t be sustainable, helped ease the mood on Friday, giving stocks a boost.
The largest banks’ earnings were robust, with the diversified lenders raking it in through multiple business lines. However, regional banks are another story – and big losses for Zions Bancorporation (ZION) and Western Alliance (WAL) transformed into concerns about credit quality, fraud, and broader economic concerns. These banks disclosed loan problems right after two high-profile auto-sector bankruptcies – Tricolor Holdings and First Brands Group – rattled investor nerves. While neither of the banks was exposed to the failing firms – with their losses stemming mostly from commercial real estate – their revelations of CRE losses amplified investor anxiety about broader credit risk in the regional banking sector, with questions arising whether a systemic crisis is brewing under the hood of the financial system.
JPMorgan’s (JPM) CEO Jamie Dimon added fuel to the fire with his now-famous warning that “when you see one cockroach, there are probably more.” JPMorgan Chase had direct exposure to Tricolor Holdings and took a $170 million charge-off in Q3, which is why its CEO talked about the subject on the bank’s earnings call. Dimon, widely regarded as “the best banker in the world,” warned that recent bankruptcies could signal deeper credit trouble beneath the surface, urging investors to be vigilant about hidden credit risks in the economy.
JPMorgan Chase avoided direct losses from First Brands but closely monitored the situation because of the widespread lender exposure. Several lenders, including Jefferies (JEF) , UBS (UBS) , and Fifth Third (FITB) , reported hundreds of millions in exposure to First Brands’ off-balance sheet loans and alleged irregularities in invoicing and receivables booking. The fallout has also intensified scrutiny on private credit funds and business development companies (BDCs), with some of them holding substantial First Brands-related debt.
The flashbacks to the 2023 regional banking crisis weighed heavily on investor sentiment. However, the panic eased after statements from banks and analysts clarified that the incidents were isolated rather than systemic. Raymond James (RJF) called Zions’ issue a “one-off credit hiccup” and not a sector-wide credit event. Argus Research said it views corporate bankruptcies as isolated cases, noting that the latest bank earnings reports highlighted “overall improving credit quality” last quarter. Meanwhile, both Zions and Western Alliance reaffirmed financial guidance and highlighted limited exposure to the disputed loans. Moreover, Ally Financial (ALLY), Fifth Third Bancorp (FITB) , and Regions Financial (RF) all easily topped analysts’ earnings and revenue estimates, helping lift investor sentiment toward regional banks and rekindling a broad-market rally going into the weekend.
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This Week’s Quality Dividend Stock Idea
RPM International (RPM) is a U.S.-based specialty chemicals company that manufactures and markets high-performance coatings, sealants, and building materials. Its operations span three segments –Construction Products, Performance Coatings, and Consumer Group – serving industrial, commercial, and consumer markets worldwide. RPM’s portfolio includes well-known brands such as Rust-Oleum, Tremco, and DAP, making it a global leader in protective coatings and renovation solutions.
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Constructed Legacy
RPM International traces its roots to 1947, when Republic Powdered Metals was founded in Ohio as a manufacturer of industrial coatings for waterproofing and corrosion protection. The company grew steadily through the mid-20th century and adopted the name RPM in 1971 to reflect its diversification beyond metal coatings. Its strategy of acquiring complementary specialty chemical and coatings businesses became the foundation of its growth model, enabling expansion into construction sealants, adhesives, and consumer products.
During the 1990s and early 2000s, RPM’s expansion accelerated through a series of transformative acquisitions, including Tremco, Carboline, and Rust-Oleum, which strengthened its presence across industrial, construction, and consumer markets. These moves expanded RPM’s geographic reach and positioned it as a multinational leader in protective coatings and sealants. The company reorganized as RPM International in 2002 to underscore its global scale and diversified portfolio.
Over the following decades, RPM’s disciplined acquisition strategy continued to drive growth and profitability. Between 2015 and 2025, the company executed more than 50 acquisitions, focusing on specialty coatings, construction chemicals, and cleaning products. In 2017, RPM’s Legend Brands acquired Prochem from Kärcher North America, enhancing its cleaning and restoration portfolio. In 2021, it bought Ali Industries, maker of Gator and Zip Sander abrasives, strengthening its Consumer Group.
In 2024, RPM acquired the France-based TMP Convert SAS to expand its European construction presence. The following year, it added U.K.-based Star Brands Group, owner of ‘The Pink Stuff’ cleaning brand, to Rust-Oleum, entering the global cleaning market. It also acquired U.S.-based NOW Specialties, a leader in panelized wall systems, integrating it into Tremco Construction Products Group to enhance its building systems portfolio.
Aligned with its Margin Achievement Plan 2025 (MAP 2025), RPM has paired acquisitions with targeted divestitures to streamline operations and improve margins. In fiscal 2024, the company sold USL’s Bridgecare services division, a non-core infrastructure business, consistent with its focus on higher-margin specialty coatings and construction solutions. Earlier this year, RPM further simplified its structure by dissolving the former Specialty Products Group and reallocating its operations across the Construction Products, Performance Coatings, and Consumer segments to enhance efficiency and collaboration.
These strategic initiatives, supported by operational programs like MAP 2025, have strengthened RPM’s profitability and resilience. Its Consumer and Performance Coatings segments have benefited from recent acquisitions and cost efficiencies, while the Construction Products Group has achieved robust organic growth from turnkey infrastructure solutions.
Today, RPM International operates more than 160 manufacturing facilities and manages a portfolio of renowned brands across more than 30 countries.
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Operational Edge
RPM International operates a high-margin business model built around specialty coatings, sealants, building materials, and consumer products that serve industrial, commercial, and retail markets worldwide. The company generates revenue through the manufacture and distribution of solutions used in construction, maintenance, and renovation projects. Its three operating segments –Construction Products Group (CPG), Performance Coatings Group (PCG), and Consumer Group –provide steady cash flows across business cycles.
The CPG segment supplies roofing systems, sealants, flooring, and waterproofing products, generating steady demand from building maintenance and infrastructure projects. The PCG segment focuses on high-performance coatings, corrosion protection, and specialty chemicals used in industrial facilities, energy infrastructure, and marine applications – markets characterized by long-term contracts and high switching costs. Meanwhile, the Consumer Group, home to brands like Rust-Oleum, DAP, and ‘The Pink Stuff,’ sells paints, adhesives, and cleaning products through major retailers and e-commerce channels, generating stable sales driven by brand loyalty and renovation activity.
RPM’s growth model is reinforced by its “Value over Volume” strategy, which emphasizes product innovation, premium pricing, and operational excellence, rather than market share expansion at the expense of margins. Launched in 2022, the Margin Achievement Plan 2025 (MAP 2025) builds on the company’s earlier ‘MAP to Growth’ initiative and focuses on strengthening profitability through plant consolidation, automation, supply chain optimization, and pricing discipline. The program also enhances commercial execution by improving sales force effectiveness and emphasizing higher-margin products. By fiscal 2025, MAP 2025 delivered meaningful cost savings, expanded operating margins, and supported stronger free cash flow conversion, with further benefits expected as the program matures.
The company’s recurring revenue orientation, diversified end markets, and disciplined acquisition strategy contribute to consistent profitability and robust cash generation. The ongoing integration of recent acquisitions – such as Star Brands, NOW Specialties, and TMP Convert – has expanded RPM’s presence in high-growth categories, including cleaning products and construction systems.
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Polished Progress
Even as overall consumer spending remains soft, RPM continues to outperform peers and gain market share in its consumer-facing businesses, supported by innovation and retail expansion. New product introductions, such as low-odor spray paints, have resonated with DIY consumers seeking convenience, while ‘The Pink Stuff’ – one of RPM’s fastest-growing cleaning brands – has gained significant traction as it enters new retailers and markets. These successes have helped RPM outperform the broader DIY category, which remains pressured by cautious consumer sentiment and reduced discretionary spending.
Operationally, RPM incurred about $10 million in temporary inefficiencies during the quarter, tied to plant transitions and consolidation efforts. Although these short-term costs weighed on margins, management expects them to ease as integration efforts are completed. Over time, these restructuring initiatives should streamline operations, improve manufacturing efficiency, and enhance cost control – ultimately supporting stronger profitability and cash flow generation.
RPM reported a solid order backlog across its Construction Products and Performance Coatings segments, two key growth engines for the company. Construction Products continue to benefit from strong infrastructure activity supported by public funding and ongoing commercial repair projects. Meanwhile, Performance Coatings sees sustained demand from industrial maintenance and capital spending, including the fast-growing data center market, which requires specialized coatings and sealants for temperature control and equipment protection.
While these demand trends remain encouraging, management maintained a cautiously optimistic FY2026 outlook, citing lingering macroeconomic uncertainty, tariff-related cost pressures, and raw material volatility. Even so, the company emphasized that underlying demand across its core end markets – infrastructure, industrial, and specialty construction – remains fundamentally healthy.
On the cost front, RPM expects tariff-related headwinds to impact annual profitability by approximately $90–95 million. However, management anticipates offsetting roughly half of this through pricing actions and production realignments. The company implemented modest price increases averaging 0.5% in the first quarter of FY26, with a planned acceleration to about 2% in the second quarter, particularly within the Consumer segment, where demand for branded products like specialty paints remains strong.
Cost efficiencies achieved under the MAP 2025 program have created room for selective reinvestment in growth initiatives. Management is channeling savings toward expanding the sales force, strengthening marketing capabilities, and increasing brand visibility. Looking ahead, RPM plans to broaden its retail reach by entering dollar stores and grocery channels in 2026 – an expansion designed to build on the success of “The Pink Stuff” and capture new consumers.
Management concluded that RPM’s underlying earnings power remains robust. In a normalized operating environment – absent current inefficiencies and cost pressures – a 7% sales growth rate should translate into mid-teens EBIT growth, reflecting the scalability of its business model.
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Solid Finish
RPM International has demonstrated steady financial growth over the past several years, supported by a disciplined operating model, margin expansion initiatives, and a diversified business portfolio. Over the past five years, the company’s revenues and EPS have grown by around 6% and 13%, respectively, propelled by a combination of organic growth, strategic acquisitions, segment-focused product innovation, and the execution of its operational improvement program.
For the first quarter of fiscal 2026, RPM reported net sales of $2.11 billion, up 7.4% year-over-year, which were above Street estimates. This growth was driven by higher pricing and volume growth across the Construction Products Group (CPG) and The Performance Coatings Group (PCG). Gross profit increased 6.8% to $893.2 million, while operating efficiency initiatives helped offset input cost inflation and restructuring-related expenses. Net income attributable to RPM stockholders came in at $227.6 million, largely unchanged from the prior-year quarter, resulting in adjusted EPS of $1.88, above consensus estimates. Operating margins remained stable as productivity gains and pricing improvements were partially offset by higher restructuring and investment costs under MAP 2025.
Segment performance remained robust across the board. The CPG saw sales of around $881 million, up by 6.5% year-over-year and strong EBIT growth, driven by roofing and data center projects. The PCG achieved high-single-digit gains on solid demand for protective coatings and industrial flooring. The Consumer Group also posted record sales of around $694 million, boosted by acquisitions, though organic sales declined due to soft DIY trends and product rationalization.
RPM’s focus on operational discipline and cash generation continues to support its solid financial position. Operating cash flow for the quarter totaled $237.5 million, reflecting strong working capital management and improved inventory turnover. The company used its cash primarily for acquisitions, capital expenditures, and shareholder returns, with capital spending of $62.5 million and acquisitions totaling $115.7 million during the period.
As of August 31, 2025, RPM maintained a healthy balance sheet, with total assets of $7.94 billion and shareholders’ equity of $3.06 billion. The company’s balance sheet remains strong, with net debt around 1.8x EBITDA and liquidity of $933 million, providing capacity for further acquisitions and shareholder returns. RPM has an investment grade of “BBB” from Fitch.
RPM guided for Q2 FY2026 sales and adjusted EBIT to be in the mid-single-digit percentage range, led by the Consumer Group as recent acquisitions contribute more fully. The company reaffirmed its FY2026 outlook, projecting sales toward the high end of low-to-mid-single-digit growth and EBIT at the low end of the high-single to low-double-digit range. Management noted ongoing headwinds from tariffs, with about half expected to be mitigated through pricing and supply-chain shifts – as well as modest raw material inflation of 1–2%.
Furthermore, the company’s ROE is ranked among the top 5% while its ROA and ROIC are among the top 10% in the industry.
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Cash Consistency
RPM International has a long-standing record of rewarding shareholders through steady dividends and share repurchases, reflecting its consistent earnings growth and strong free cash flow generation. The company is a Dividend King and has paid dividends for 52 consecutive years. This is a rare achievement in the specialty chemicals industry and demonstrates RPM’s commitment to reliable and sustainable capital returns. Over the past decade, RPM’s dividend has grown at a 7% annual rate, supported by stable cash generation from its diversified business model.
For the most recent quarter, RPM declared a quarterly cash dividend of $0.54 per share, representing a 5.9% increase from the prior year. At current share prices, this equates to a dividend yield of roughly 1.83%, above the sector average of 1.64%. Based on adjusted earnings, RPM International distributes around 39% to its shareholders. During the quarter, RPM returned $82 million to shareholders through dividends and share repurchases.
In addition to dividends, RPM continues to return excess capital through share repurchases. During the first quarter of fiscal 2026, the company repurchased approximately $18 million worth of common stock under its ongoing authorization, which still has around $175 million remaining for future buybacks. These repurchases are opportunistic and aimed at offsetting dilution and enhancing shareholder value while maintaining balance sheet flexibility for strategic acquisitions.
From a valuation standpoint, RPM’s shares trade at a discount to its historical averages based on the trailing and forward P/E ratio, forward EV/EBITDA, forward price-to-book ratio, and price-to-cash flow ratio. Compared to competitors like Sherwin-Williams, PPG Industries, and H.B Fuller, RPM trades low-to-moderate valuation range based on trailing and forward P/E ratios, forward EV/EBITDA, and price-to-cash flow ratios. This relative discount signals a potential value opportunity, suggesting room for multiple expansion as earnings growth, margin improvement, and cash generation trends remain firmly in place.
Overall, analysts remain optimistic about RPM as they expect RPM International’s earnings growth to remain strong, supported by continued acquisitions and improved integration following its organizational streamlining efforts. Tailwinds from lower interest expenses and a favorable tax rate are expected to bolster profitability, while easing raw material costs and ongoing benefits from the MAP 2025 program should further enhance margins and drive robust EPS growth.
Consensus estimates suggest around 17% upside from current levels, with some projections calling for potential gains exceeding 32%. A discounted cash flow (DCF) analysis also indicates that the stock is trading approximately at 12% below its intrinsic value.
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Investing Takeaway
RPM International stands out as a dependable income-generating stock for long-term investors, thanks to its consistent dividend history and disciplined capital allocation. As a Dividend King with more than five decades of uninterrupted payouts, the company reflects a rare blend of financial stability and shareholder commitment within the specialty chemicals industry. Its strong free cash flow generation, supported by a diversified business model and operational efficiency programs, provides a sturdy foundation for sustainable dividend growth. Beyond steady income, RPM’s ongoing share repurchases and prudent balance sheet management enhance total shareholder returns while maintaining flexibility for strategic growth. With the stock trading below historical valuation multiples, investors not only benefit from a reliable income stream but also potential upside as earnings growth and margin expansion continue to strengthen its long-term value proposition.
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Dividend Investor Portfolio
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Portfolio News
▣ BlackRock’s (BLK) total revenues and earnings far surpassed analysts’ consensus in Q3. Adjusted EPS was reported at $11.55, topping estimates of $11.30. Revenue came in at $6.51 billion, more than a 25% increase year-over-year, driven by the positive impact of markets, 8% year-over-year organic base fee growth, fees related to the GIP and HPS transactions, and higher technology services and subscription revenue.
The outperformance was driven by a surge in total net inflows, which reached a record $205 billion, with long-term investment funds attracting $171 billion – both above estimates. Assets under management also climbed to a record $13.46 trillion, up 17% year-over-year. The firm’s growth was supported by record intake in its iShares ETFs and increased contributions from private markets, systematic strategies, and cash products. The completed $12 billion purchase of HPS Investment Partners added $165 billion in client assets, bringing total alternative investments to $663 billion. Performance fees from private markets operations jumped roughly 33% to $516 million during the quarter. CEO Larry Fink highlighted the firm’s expansion into technology, data analytics, and its public-private investment positioning as key drivers of this performance.
▣ IBM (IBM) is expected to announce its Q3 results on October 22. Analysts are expecting roughly $2.45 in earnings per share on about $16.1 billion in revenue, which would mark a modest 9% EPS growth and around a 5 % topline increase compared with the previous year. This would represent modest year-over-year growth of about 6% in EPS and 7% in sales, signaling continued progress in IBM’s transformation toward higher-margin businesses. The Software segment – anchored by Red Hat and AI-driven enterprise solutions – remains the primary growth engine, while Consulting and Infrastructure are likely to post a more measured performance amid cautious enterprise spending. Investors will focus on management’s commentary around AI adoption, hybrid-cloud traction, and client demand trends, as these remain critical to sustaining IBM’s turnaround. A solid beat could reaffirm confidence in its pivot toward software-led growth, but any signs of weakness in cloud or AI momentum may prompt questions about the pace of its execution.
▣ JPMorgan Chase (JPM) reported net income of $14.4 billion for Q3 2025, a 12% year-over-year increase – roughly $1 billion more than what analysts anticipated. This growth was fueled by strong performance in its markets and investment banking divisions. Investment banking revenue climbed 17% to $2.6 billion, supported by a rebound in deal activity and underwriting, while client trading revenue jumped 25% to $8.94 billion on robust fixed income and equities results. JPM’s net interest income (NII), one of the key profitability metrics for banks, came in at $24.1 billion, slightly above consensus. Total net revenue came in at $46.43 billion versus the consensus of $45.57 billion, while GAAP EPS of $5.07 smashed expectations of $4.85. Looking forward, the bank nudged up its full-year NII guidance to about $95.8 billion, exceeding market expectations of $95.5 billion, which aligned with the previous bank’s outlook. JPM now anticipates Q4 NII of around $25 billion, surpassing the analyst consensus of $24.5 billion.
In addition, the largest U.S. bank announced a landmark program called “the Security and Resiliency Initiative” – a 10-year, $1.5 trillion plan to finance and invest in industries critical to U.S. economic security and national resiliency. Under this plan, JPM will commit up to $10 billion in direct equity and venture capital investments targeting U.S. companies in supply chain, defense and aerospace, energy independence, and frontier technologies, including quantum and AI. The rest of the $1.5 trillion program covers money intended to be mobilized and facilitated over 10 years through a combination of financing, lending, advisory, and capital raising activities across these critical sectors, representing a 50% increase over JPMorgan’s prior $1 trillion decade-long target to support these industries. JPMorgan CEO Jamie Dimon said that “the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing.”
▣ Lockheed Martin (LMT) is set to report its Q3 results on October 21, with Wall Street expecting earnings of about $6.38 per share and revenue of roughly $18.5 billion, reflecting modest year-over-year growth despite recent headwinds. The defense giant’s Q2 performance was weighed down by a $1.6 billion charge tied to a classified program and a marine helicopter project, which sharply reduced profit margins. As a result, management narrowed its full-year guidance to $74.3 billion in revenue and $21.9 in EPS, both at the midpoint, signaling a focus on execution and cost control. Investors will closely watch whether new contract wins in missiles and fighter jets, including F-35 production ramp-ups and hypersonic programs, can drive backlog growth and restore margin momentum amid persistent inflationary and supply chain pressures.
▣ PhilipMorris (PM) is expected to announce its Q3 results on October 21. Analysts broadly expect adjusted earnings of around $2.09 per share on revenues of $10.6 billion. This represents roughly 10% EPS growth and 8% top-line growth year-over-year.
The company’s momentum is being driven by its smoke-free portfolio (such as its heated tobacco and nicotine pouches) which continue to gain traction globally even as traditional combustible volumes remain under pressure. If Philip Morris delivers a clean beat in both earnings and revenue, it could underscore the effectiveness of its pivot toward higher-margin alternatives; conversely, any weakness in the growing smoke-free segment, adverse currency headwinds, or regulatory hurdles, could raise questions about its transition.
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Recent Trades
None at the moment, although we are considering adding a stock to our portfolio when the market conditions allow for an attractive entry point. Stay tuned.
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Portfolio Attributes
| Dividend Portfolio Yield |
Expected Dividend Growth | Expected Annual Income |
| 3.95% | +5.93% | $5,889.50 |
| Yield-on-Cost Adjusted, Weighted |
Average Analyst 12-Month Growth Outlook | 10K Per Stock at the Time of Purchase |
Current Portfolio
| Name | EX-Dividend Date | Payment Date | Yield on Cost | Annual DPS |
| Automatic Data Processing (ADP) | Dec 11, 2025 | Jan 01, 2026 | 2.46% | $6.16 |
| Amgen (AMGN) | Nov 18, 2025 | Dec 09, 2025 | 3.27% | $9.52 |
| BlackRock (BLK) | Dec 04, 2025 | Dec 23, 2025 | 2.61% | $20.84 |
| Bank of Nova Scotia (BNS) | Jan 07, 2026 | Jan 29, 2026 | 5.98% | $3.21 |
| EOG Resources (EOG) | Jan 15, 2026 | Jan 29, 2026 | 3.06% | $4.08 |
| ExxonMobil (XOM) | Nov 17, 2025 | Dec 10, 2025 | 3.64% | $3.96 |
| IBM (IBM) | Nov 12, 2025 | Dec 10, 2025 | 3.14% | $6.72 |
| JPMorgan Chase (JPM) | Jan 06, 2026 | Jan 29, 2026 | 3.43% | $6.00 |
| Kroger (KR) | Nov 17, 2025 | Dec 01, 2025 | 3.08% | $1.40 |
| Lockheed Martin (LMT) | Dec 02, 2025 | Dec 29, 2025 | 2.85% | $13.80 |
| PepsiCo (PEP) | Dec 09, 2025 | Jan 06, 2026 | 3.8% | $5.69 |
| Philip Morris (PM) | Dec 26, 2025 | Jan 13, 2026 | 6.06% | $5.88 |
| Qualcomm (QCOM) | Dec 08, 2025 | Dec 22, 2025 | 2.36% | $3.56 |
| VICI Properties (VICI) | Dec 17, 2025 | Jan 09, 2026 | 5.22% | $1.8 |
| Verizon (VZ) | Jan 12, 2026 | Feb 03, 2026 | 6.09% | $2.76 |
NameEX-Dividend DatePayment DateYield on Cost Annual DPS
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Click here for more stock market analysis from TipRanks Macro & Markets research analyst Yulia Vaiman
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Disclaimer
The information contained in this article represents the views and opinions of the writer only, and not the views or opinions of TipRanks or its affiliates and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy, or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment, and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices, or performance.
