RedJay Asset Management Inc. Makes New Investment in The Sherwin-Williams Company (NYSE:SHW)

RedJay Asset Management Inc. purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,000 shares of the specialty chemicals company's stock, valued at approximately $3,841,000. Sherwin-Williams makes up about 2.1% of RedJay Asset Management Inc.'s holdings, making the stock its 17th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in Sherwin-Williams in the 4th quarter valued at approximately $1,359,747,000. GAMMA Investing LLC boosted its holdings in shares of Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock valued at $571,381,000 after acquiring an additional 1,632,391 shares in the last quarter. Capital Research Global Investors grew its position in Sherwin-Williams by 47.1% during the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock worth $1,019,329,000 after acquiring an additional 960,724 shares during the last quarter. Barclays PLC raised its position in Sherwin-Williams by 54.2% in the fourth quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company's stock valued at $704,855,000 after purchasing an additional 728,798 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sherwin-Williams during the fourth quarter valued at about $230,829,000. 77.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHW has been the topic of a number of research reports. Bank of America boosted their target price on shares of Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a report on Monday, June 23rd. Wells Fargo & Company raised shares of Sherwin-Williams from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $350.00 to $420.00 in a research note on Wednesday, April 30th. Jefferies Financial Group restated a "hold" rating and issued a $380.00 price objective (down from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Morgan Stanley cut their target price on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho set a $395.00 price target on Sherwin-Williams in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Sherwin-Williams currently has an average rating of "Moderate Buy" and an average target price of $391.31.

Sherwin-Williams Stock Down 0.7%

SHW traded down $2.36 during trading on Thursday, hitting $350.16. 1,088,732 shares of the company's stock were exchanged, compared to its average volume of 1,713,331. The Sherwin-Williams Company has a fifty-two week low of $293.56 and a fifty-two week high of $400.42. The stock has a market cap of $87.75 billion, a P/E ratio of 33.10, a PEG ratio of 3.19 and a beta of 1.18. The business's 50 day moving average is $350.52 and its two-hundred day moving average is $348.10. The company has a quick ratio of 0.45, a current ratio of 0.77 and a debt-to-equity ratio of 1.90.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.02. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.42 billion. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 EPS. As a group, equities analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, May 16th. Sherwin-Williams's dividend payout ratio is 29.87%.

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.