760,359 Shares in The Sherwin-Williams Company (NYSE:SHW) Bought by Nuveen LLC

Key Points

• Nuveen LLC purchased 760,359 shares of The Sherwin-Williams Company (NYSE:SHW) in the first quarter, valued at approximately $265.5 million, representing around 0.30% of the company's stock.
• Recently, Sherwin-Williams announced a quarterly dividend of $0.79 per share, with an annualized yield of 0.9%, to be paid on September 5th to stockholders of record as of August 15th.
• After recent trading, analysts have lowered their target prices for Sherwin-Williams, with Loop Capital reducing their target from $395 to $380, while the consensus target price is set at $383.33.

Nuveen LLC bought a new stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 760,359 shares of the specialty chemicals company's stock, valued at approximately $265,510,000. Nuveen LLC owned about 0.30% of Sherwin-Williams as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SHW. Park Square Financial Group LLC purchased a new stake in shares of Sherwin-Williams in the fourth quarter valued at about $27,000. Perkins Coie Trust Co acquired a new position in Sherwin-Williams in the first quarter valued at approximately $27,000. Synergy Investment Management LLC grew its position in Sherwin-Williams by 583.3% in the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new stake in Sherwin-Williams during the first quarter worth $30,000. Finally, HWG Holdings LP purchased a new stake in Sherwin-Williams in the first quarter valued at $46,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sherwin-Williams

In other news, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total value of $301,301.00. Following the sale, the chief accounting officer owned 377 shares of the company's stock, valued at $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Sherwin-Williams Stock Performance

Sherwin-Williams stock traded down $3.09 during midday trading on Thursday, hitting $365.74. 2,614,752 shares of the company's stock were exchanged, compared to its average volume of 1,797,896. The firm's 50 day simple moving average is $345.71 and its 200 day simple moving average is $347.99. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The stock has a market cap of $91.19 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 3.38 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The company had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.70 EPS. Equities research analysts predict 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, September 5th. Shareholders of record on Friday, August 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Sherwin-Williams's payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Mizuho lowered their price target on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their price target on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Morgan Stanley dropped their target price on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets lowered their price objective on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sherwin-Williams has a consensus rating of "Moderate Buy" and an average target price of $388.60.

Sherwin-Williams Company Profile

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.