Charles Schwab Investment Management Inc. Buys 64,325 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Charles Schwab Investment Management Inc. increased its position in The Sherwin-Williams Company by 4.4%, acquiring a total of 1,536,398 shares valued at approximately $536 million.
• Analyst ratings are mixed, with a consensus of "Moderate Buy" for Sherwin-Williams, and a price target averaging around $383.33.
• The Sherwin-Williams Company reported earnings per share of $3.38 for the last quarter, missing the analysts' expectations by 38 cents, while announcing a quarterly dividend of $0.79 per share.

Charles Schwab Investment Management Inc. lifted its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,536,398 shares of the specialty chemicals company's stock after acquiring an additional 64,325 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.61% of Sherwin-Williams worth $536,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Perkins Coie Trust Co purchased a new position in shares of Sherwin-Williams in the 1st quarter worth $27,000. Park Square Financial Group LLC purchased a new position in Sherwin-Williams in the fourth quarter worth about $27,000. Synergy Investment Management LLC grew its stake in shares of 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 purchasing an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Sherwin-Williams during the 1st quarter valued at about $30,000. Finally, HWG Holdings LP purchased a new stake in shares of Sherwin-Williams during the 1st quarter valued at about $46,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sherwin-Williams

In related news, CAO James P. Lang sold 860 shares of the business's stock in a transaction on 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 in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Sherwin-Williams Price Performance

Shares of NYSE:SHW traded up $0.91 during midday trading on Tuesday, reaching $355.49. 820,700 shares of the company were exchanged, compared to its average volume of 1,773,708. The stock has a market cap of $88.63 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 3.33 and a beta of 1.16. The business's fifty day moving average is $345.57 and its two-hundred day moving average is $347.77. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 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 last year, the company earned $3.70 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

Analyst Upgrades and Downgrades

SHW has been the subject of several recent research reports. BMO Capital Markets cut their target price on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company dropped their price target on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Morgan Stanley reduced 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. Royal Bank Of Canada lifted their target price on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Loop Capital cut their price target on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Sherwin-Williams currently has a consensus rating of "Moderate Buy" and an average target price of $383.33.

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.