DoubleLine ETF Adviser LP Buys New Stake in The Sherwin-Williams Company (NYSE:SHW)

DoubleLine ETF Adviser LP acquired a new stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,144 shares of the specialty chemicals company's stock, valued at approximately $6,168,000. Sherwin-Williams makes up about 1.7% of DoubleLine ETF Adviser LP's holdings, making the stock its 11th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Midwest Capital Advisors LLC purchased a new stake in Sherwin-Williams during the 4th quarter worth about $26,000. Lee Danner & Bass Inc. acquired a new position in shares of Sherwin-Williams during the fourth quarter worth about $28,000. Sierra Ocean LLC acquired a new stake in Sherwin-Williams in the fourth quarter valued at approximately $36,000. WR Wealth Planners LLC raised its holdings in Sherwin-Williams by 41.7% in the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company's stock valued at $40,000 after acquiring an additional 35 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new position in Sherwin-Williams in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Price Performance

Shares of Sherwin-Williams stock traded down $7.22 during trading on Tuesday, reaching $352.60. The company's stock had a trading volume of 1,157,187 shares, compared to its average volume of 1,875,686. The company has a market capitalization of $88.68 billion, a P/E ratio of 33.42, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. The Sherwin-Williams Company has a 12-month low of $282.09 and a 12-month high of $400.42. The business has a 50 day moving average price of $342.22 and a 200-day moving average price of $355.66. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The firm had revenue of $5.31 billion during the quarter, compared to analysts' expectations of $5.42 billion. During the same quarter last year, the business earned $2.17 earnings per share. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $3.16 annualized dividend and a yield of 0.90%. Sherwin-Williams's dividend payout ratio is presently 29.87%.

Insiders Place Their Bets

In other news, insider Colin M. Davie sold 2,799 shares of Sherwin-Williams stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the completion of the transaction, the insider now owns 5,365 shares of the company's stock, valued at $1,933,009.50. The trade was a 34.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Berenberg Bank raised Sherwin-Williams from a "hold" rating to a "buy" rating and upped their price objective for the stock from $321.00 to $420.00 in a research report on Friday, January 24th. Zelman & Associates raised shares of Sherwin-Williams to a "strong-buy" rating in a research report on Friday, January 17th. Barclays decreased their price objective on shares of Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Mizuho set a $395.00 target price on Sherwin-Williams in a research report on Tuesday, April 15th. Finally, Citigroup decreased their price objective on Sherwin-Williams from $423.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.00.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.