CenterBook Partners LP Cuts Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• CenterBook Partners LP significantly reduced its stake in The Sherwin-Williams Company by 57.7%, ending the first quarter with 6,344 shares valued at approximately $2.2 million.
• Several institutional investors, including Vanguard Group and Capital Research Global Investors, have increased their holdings in Sherwin-Williams, reflecting strong interest as 77.67% of the stock is owned by institutions.
• Sherwin-Williams reported a quarterly earnings miss with $3.38 EPS, falling short of analysts' expectations, while also declaring a $0.79 dividend to shareholders.

CenterBook Partners LP lowered its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 57.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,344 shares of the specialty chemicals company's stock after selling 8,671 shares during the quarter. CenterBook Partners LP's holdings in Sherwin-Williams were worth $2,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Sherwin-Williams by 1.1% in the first quarter. Vanguard Group Inc. now owns 22,082,544 shares of the specialty chemicals company's stock valued at $7,711,004,000 after purchasing an additional 245,896 shares during the last quarter. Capital Research Global Investors grew its position in 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 purchasing an additional 960,724 shares in the last quarter. Northern Trust Corp increased its stake in 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 valued at $926,590,000 after buying an additional 595,586 shares during the last quarter. Barclays PLC lifted its position in shares of Sherwin-Williams by 54.2% during 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Sherwin-Williams by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,826,498 shares of the specialty chemicals company's stock worth $620,881,000 after buying an additional 111,128 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SHW. Citigroup decreased their price target on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. BMO Capital Markets cut their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley lowered their price objective on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Loop Capital lowered their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, UBS Group lowered their target price on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $383.33.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $350.83 on Thursday. The company has a 50 day moving average of $345.83 and a 200 day moving average of $348.05. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. The stock has a market cap of $87.47 billion, a P/E ratio of 34.80, a P/E/G ratio of 3.33 and a beta of 1.16. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $400.42.

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

Sherwin-Williams Dividend Announcement

The firm 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 $0.79 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 annualized dividend and a dividend yield of 0.9%. Sherwin-Williams's dividend payout ratio (DPR) is presently 31.35%.

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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