C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Grows Position in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• C2P Capital Advisory Group LLC increased its holdings in The Sherwin-Williams Company by 601.8% during the 1st quarter, owning 5,067 shares valued at approximately $1.78 million.
• Numerous institutional investors, including GAMMA Investing LLC and Capital Research Global Investors, have significantly expanded their positions in Sherwin-Williams, indicating strong institutional interest in the company.
• The company's recent earnings report showed an EPS of $3.38, missing expectations, with revenue of $6.31 billion for the quarter, despite a revenue increase of 0.6% year-over-year.

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 601.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,067 shares of the specialty chemicals company's stock after acquiring an additional 4,345 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' holdings in Sherwin-Williams were worth $1,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SHW. GAMMA Investing LLC grew its position in Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock worth $571,381,000 after acquiring an additional 1,632,391 shares during the last quarter. Capital Research Global Investors grew its position in shares of Sherwin-Williams by 47.1% in the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock worth $1,019,329,000 after buying an additional 960,724 shares during the last quarter. Nuveen LLC bought a new stake in shares of Sherwin-Williams in the 1st quarter worth approximately $265,510,000. Barclays PLC grew its position in shares of Sherwin-Williams by 54.2% in the 4th quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company's stock worth $704,855,000 after buying an additional 728,798 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Sherwin-Williams by 28.0% in the 4th quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock worth $926,590,000 after buying an additional 595,586 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SHW. UBS Group cut their price objective on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Mizuho dropped their price target on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Loop Capital lowered their price objective on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Bank of America lifted their price objective on Sherwin-Williams from $289.00 to $296.00 and gave the company an "underperform" rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $383.33.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $352.19 on Monday. The stock has a 50-day simple moving average of $345.58 and a two-hundred day simple moving average of $347.80. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week 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 firm has a market capitalization of $87.81 billion, a PE ratio of 34.94, a P/E/G ratio of 3.33 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 the consensus estimate of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the firm posted $3.70 EPS. The business's revenue for the quarter was up .6% on a year-over-year basis. Analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.79 per share. 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%.

Insider Transactions at Sherwin-Williams

In other news, CAO James P. Lang sold 860 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the completion of the transaction, the chief accounting officer owned 377 shares of the company's stock, valued at $132,081.95. This represents a 69.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company's stock.

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.

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