Carmignac Gestion Invests $2.67 Million in The Sherwin-Williams Company $SHW

Key Points

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Carmignac Gestion purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,644 shares of the specialty chemicals company's stock, valued at approximately $2,669,000.

Other hedge funds have also modified their holdings of the company. Perkins Coie Trust Co purchased a new position in Sherwin-Williams during the 1st quarter valued at about $27,000. Park Square Financial Group LLC purchased a new position in Sherwin-Williams during the 4th quarter valued at about $27,000. Synergy Investment Management LLC boosted its holdings in Sherwin-Williams by 583.3% during the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in Sherwin-Williams during the 1st quarter valued at about $30,000. Finally, HWG Holdings LP purchased a new position in Sherwin-Williams during the 1st quarter valued at about $46,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $359.04 on Tuesday. 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 current ratio of 0.78 and a quick ratio of 0.48. The business has a 50 day simple moving average of $346.02 and a 200-day simple moving average of $347.79. The stock has a market capitalization of $89.52 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 3.44 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the company earned $3.70 EPS. The company's revenue was up .6% on a year-over-year basis. Equities analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams's dividend payout ratio is 31.35%.

Insiders Place Their Bets

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was 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 approximately $132,081.95. This represents a 69.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SHW shares. BMO Capital Markets lowered their target price on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company decreased their price objective on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley decreased their price objective on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup decreased their target price on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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