Korea Investment CORP Trims Stock Position in The Sherwin-Williams Company $SHW

Key Points

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Korea Investment CORP reduced its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163,740 shares of the specialty chemicals company's stock after selling 12,833 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Sherwin-Williams worth $57,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aptus Capital Advisors LLC increased its position in Sherwin-Williams by 18.0% during the 1st quarter. Aptus Capital Advisors LLC now owns 37,927 shares of the specialty chemicals company's stock valued at $13,244,000 after purchasing an additional 5,787 shares during the period. Aviso Financial Inc. increased its position in Sherwin-Williams by 2.2% during the 1st quarter. Aviso Financial Inc. now owns 3,301 shares of the specialty chemicals company's stock valued at $1,153,000 after purchasing an additional 72 shares during the period. Brooklyn Investment Group increased its position in Sherwin-Williams by 32.4% during the 1st quarter. Brooklyn Investment Group now owns 2,307 shares of the specialty chemicals company's stock valued at $805,000 after purchasing an additional 565 shares during the period. Makena Capital Management LLC increased its position in Sherwin-Williams by 62.9% during the 1st quarter. Makena Capital Management LLC now owns 53,204 shares of the specialty chemicals company's stock valued at $18,578,000 after purchasing an additional 20,550 shares during the period. Finally, George Kaiser Family Foundation purchased a new stake in shares of Sherwin-Williams in the 1st quarter worth about $271,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sherwin-Williams

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the transaction, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. This represents a 69.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $359.04 on Tuesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The company has a market capitalization of $89.52 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 3.44 and a beta of 1.16. The company's 50-day moving average is $346.02 and its 200 day moving average is $347.79. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. Sherwin-Williams's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 EPS. Sell-side analysts expect that The Sherwin-Williams Company will post 12 EPS 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. Shareholders of record on Friday, August 15th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, August 15th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams's dividend payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHW. Royal Bank Of Canada upped their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. BMO Capital Markets reduced their target price on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their target price on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Finally, Bank of America raised shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $296.00 to $375.00 in a research report on Thursday, August 14th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Sherwin-Williams presently has an average rating of "Moderate Buy" and a consensus price target 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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