Skandinaviska Enskilda Banken AB publ Has $20.66 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in The Sherwin-Williams Company by 1.5%, bringing its total shares to 59,154, valued at $20,656,000.
• The company announced a quarterly dividend of $0.79 per share, with an ex-dividend date on August 15th.
• Despite reporting earnings of $3.38 per share, Sherwin-Williams missed analysts' expectations of $3.76, while revenue for the quarter was reported at $6.31 billion.

Skandinaviska Enskilda Banken AB publ grew its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,154 shares of the specialty chemicals company's stock after purchasing an additional 900 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Sherwin-Williams were worth $20,656,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Park Square Financial Group LLC acquired a new stake in shares of Sherwin-Williams during the 4th quarter worth about $27,000. Perkins Coie Trust Co purchased a new position in Sherwin-Williams during the 1st quarter valued at about $27,000. Synergy Investment Management LLC boosted 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 buying an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Sherwin-Williams in the 1st quarter valued at about $30,000. Finally, HWG Holdings LP purchased a new position in shares of Sherwin-Williams in the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Analyst Upgrades and Downgrades

SHW has been the topic of several research analyst reports. Loop Capital cut their target price on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Citigroup cut their price target on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley dropped 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. Wells Fargo & Company dropped their target price on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, Barclays dropped their target price on Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued 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, the company presently has an average rating of "Moderate Buy" and an average target price of $383.33.

Sherwin-Williams Trading Up 0.3%

Shares of Sherwin-Williams stock traded up $0.89 during mid-day trading on Tuesday, hitting $337.05. 1,506,822 shares of the stock were exchanged, compared to its average volume of 1,755,970. The Sherwin-Williams Company has a twelve month low of $308.84 and a twelve month high of $400.42. The stock has a market capitalization of $84.46 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 3.21 and a beta of 1.18. The company has a 50-day simple moving average of $347.64 and a 200 day simple moving average of $348.30. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $3.70 earnings per share. Research analysts forecast that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 annualized dividend and a dividend yield of 0.94%. Sherwin-Williams's payout ratio is 31.35%.

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.