Cornerstone Advisors LLC Purchases 6,800 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Cornerstone Advisors LLC increased its stake in The Sherwin-Williams Company by 97.1% during the 1st quarter, owning a total of 13,800 shares worth approximately $4.82 million.
• Several hedge funds, including Voleon Capital Management and Moors & Cabot Inc., have also added to their holdings, contributing to institutional investors owning 77.67% of the company’s stock.
• Sherwin-Williams reported quarterly earnings of $3.38 per share, missing estimates by $0.38, with a revenue of $6.31 billion that matched analyst expectations.

Cornerstone Advisors LLC raised its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 97.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,800 shares of the specialty chemicals company's stock after buying an additional 6,800 shares during the quarter. Cornerstone Advisors LLC's holdings in Sherwin-Williams were worth $4,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Voleon Capital Management LP bought a new stake in shares of Sherwin-Williams in the fourth quarter worth about $2,011,000. Moors & Cabot Inc. increased its holdings in shares of Sherwin-Williams by 0.4% in the first quarter. Moors & Cabot Inc. now owns 9,016 shares of the specialty chemicals company's stock worth $3,148,000 after acquiring an additional 39 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of Sherwin-Williams by 25.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,006 shares of the specialty chemicals company's stock worth $352,000 after acquiring an additional 201 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Sherwin-Williams in the first quarter worth about $306,000. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of Sherwin-Williams by 18.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 882 shares of the specialty chemicals company's stock worth $308,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SHW. Bank of America increased their price objective on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a report on Monday, June 23rd. BMO Capital Markets decreased their price target on Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Mizuho decreased their price target on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. UBS Group decreased their price target on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company decreased their price target 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sherwin-Williams has an average rating of "Moderate Buy" and an average target price of $383.33.

Sherwin-Williams Stock Up 1.2%

Shares of NYSE:SHW opened at $351.86 on Wednesday. The company has a market capitalization of $87.73 billion, a price-to-earnings ratio of 34.91, a P/E/G ratio of 3.29 and a beta of 1.16. 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's 50-day moving average is $345.90 and its 200-day moving average is $348.04. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period last year, the company posted $3.70 earnings per share. The firm's quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

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

About Sherwin-Williams

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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