LGT Fund Management Co Ltd. Has $8.75 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• LGT Fund Management Co Ltd. increased its stake in The Sherwin-Williams Company by 13.4% during the first quarter, now owning 25,058 shares valued at approximately $8.75 million.
• Several other institutional investors have modified their stakes in Sherwin-Williams, with institutional ownership now at 77.67% of the company's stock.
• The company reported earnings of $3.38 EPS, missing estimates, while annualized dividends are set at $3.16 with a yield of 0.9%.

LGT Fund Management Co Ltd. increased its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 13.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,058 shares of the specialty chemicals company's stock after acquiring an additional 2,967 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Sherwin-Williams were worth $8,750,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Perkins Coie Trust Co bought a new stake in shares of Sherwin-Williams in the 1st quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in shares of Sherwin-Williams in the 4th quarter valued at $27,000. Synergy Investment Management LLC increased its stake in shares of Sherwin-Williams by 583.3% in the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 70 shares in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in Sherwin-Williams in the 1st quarter valued at $30,000. Finally, HWG Holdings LP acquired a new stake in Sherwin-Williams in the 1st quarter valued at $46,000. Institutional investors own 77.67% of the company's stock.

Insider Transactions at Sherwin-Williams

In related news, CAO James P. Lang sold 860 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total value of $301,301.00. Following the sale, the chief accounting officer directly owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Bank of America boosted their price target on shares of Sherwin-Williams from $289.00 to $296.00 and gave the company an "underperform" rating in a research note on Monday, June 23rd. Citigroup decreased their price target on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Loop Capital decreased their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $383.33.

Sherwin-Williams Price Performance

SHW opened at $354.81 on Tuesday. The firm has a market cap of $88.47 billion, a P/E ratio of 35.20, a PEG ratio of 3.33 and a beta of 1.16. The firm has a 50-day moving average of $345.57 and a 200 day moving average of $347.77. 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 Sherwin-Williams Company has a fifty-two week low of $308.84 and a fifty-two week 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 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 EPS. On average, research analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

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