Connable Office Inc. Makes New Investment in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Connable Office Inc. recently acquired a new stake in The Sherwin-Williams Company, purchasing 6,003 shares valued at approximately $2,096,000 in Q1.
• Several other institutional investors have also taken positions, indicating a continuing interest in Sherwin-Williams, with 77.67% of the stock now owned by such investors.
• The company reported an EPS of $3.38 for the last quarter, falling short of the consensus estimate of $3.76, while revenue remained steady at $6.31 billion.

Connable Office Inc. purchased a new stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 6,003 shares of the specialty chemicals company's stock, valued at approximately $2,096,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Park Square Financial Group LLC bought a new position in Sherwin-Williams in the fourth quarter worth about $27,000. Perkins Coie Trust Co acquired a new stake in shares of Sherwin-Williams during the 1st quarter worth approximately $27,000. Synergy Investment Management LLC raised its position 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 worth $29,000 after purchasing an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new position in Sherwin-Williams during the 1st quarter valued at approximately $30,000. Finally, HWG Holdings LP bought a new position in Sherwin-Williams during the 1st quarter worth $46,000. 77.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on SHW. JPMorgan Chase & Co. cut their target price on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Citigroup cut their price objective on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley dropped their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada boosted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, 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 report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sherwin-Williams currently has a consensus rating of "Moderate Buy" and a consensus target price of $383.33.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $344.04 on Monday. The Sherwin-Williams Company has a twelve month low of $308.84 and a twelve month 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. The firm has a 50-day moving average of $346.15 and a two-hundred day moving average of $348.05. The company has a market capitalization of $85.78 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 3.25 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its 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 business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.70 earnings per share. As a group, analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams's payout ratio is 31.35%.

Sherwin-Williams 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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