S Bank Fund Management Ltd Purchases New Position in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• S Bank Fund Management Ltd has acquired a new stake in The Sherwin-Williams Company, buying 19,000 shares valued at approximately $6.6 million, making it the fund's 24th largest position.
• The specialty chemicals company reported earnings per share of $3.38 for the last quarter, missing estimates, while its quarterly revenue was $6.31 billion, meeting analyst expectations.
• Sherwin-Williams announced a quarterly dividend of $0.79, set to be paid on September 5th, with a current annualized yield of 0.9%.

S Bank Fund Management Ltd bought 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 Securities & Exchange Commission. The firm bought 19,000 shares of the specialty chemicals company's stock, valued at approximately $6,635,000. Sherwin-Williams comprises about 1.2% of S Bank Fund Management Ltd's holdings, making the stock its 24th largest position.

Other hedge funds have also bought and sold shares of the company. National Pension Service boosted its position in Sherwin-Williams by 12.5% during the first quarter. National Pension Service now owns 728,403 shares of the specialty chemicals company's stock valued at $254,351,000 after acquiring an additional 80,783 shares during the last quarter. LGT Fund Management Co Ltd. raised its position in shares of Sherwin-Williams by 13.4% in the 1st quarter. LGT Fund Management Co Ltd. now owns 25,058 shares of the specialty chemicals company's stock worth $8,750,000 after acquiring an additional 2,967 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Sherwin-Williams by 9.8% in the 1st quarter. Russell Investments Group Ltd. now owns 490,222 shares of the specialty chemicals company's stock valued at $170,446,000 after purchasing an additional 43,856 shares during the period. Resona Asset Management Co. Ltd. boosted its position in shares of Sherwin-Williams by 8.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 81,699 shares of the specialty chemicals company's stock valued at $28,374,000 after purchasing an additional 6,422 shares in the last quarter. Finally, Westpac Banking Corp grew its stake in Sherwin-Williams by 266.1% during the first quarter. Westpac Banking Corp now owns 8,571 shares of the specialty chemicals company's stock worth $2,993,000 after purchasing an additional 6,230 shares during the period. Institutional investors own 77.67% of the company's stock.

Insider Transactions at Sherwin-Williams

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

Sherwin-Williams Stock Down 0.4%

SHW stock traded down $1.39 during trading on Friday, reaching $364.18. The stock had a trading volume of 1,785,134 shares, compared to its average volume of 2,253,146. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The company's 50 day moving average is $346.00 and its two-hundred day moving average is $347.91. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $90.80 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 3.44 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly 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 for 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 business's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 earnings per share. Equities research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $0.79 per share. 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 dividend payout ratio (DPR) is 31.35%.

Wall Street Analyst Weigh In

SHW has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target 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. Mizuho cut their target price on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Morgan Stanley reduced their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Bank of America upgraded shares of Sherwin-Williams from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $296.00 to $375.00 in a report on Thursday. Finally, BMO Capital Markets cut their price objective 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. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.