RRPMRPM International Inc.

RPM International makes paints, sealants and roof coatings — chiefly for repair rather than construction.

The portfolio consists of dozens of specialist brands: anti-corrosion paint, joint sealant, a coating that restores a roof without replacing it. Each holds a niche where what matters is not price but properties and reputation with the contractor applying it.

The tilt toward repair makes revenue less cyclical: a leaking roof is fixed at any interest rate, while a new warehouse is not always built. The company grew for years by buying niche manufacturers and has lately been occupied with raising their efficiency. Risks: petrochemical input prices, the construction cycle and acquisition prices. The dividend has been raised for decades.