Bank of Nova Scotia Trust Co. Boosts Stock Holdings in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• The Bank of Nova Scotia Trust Co. increased its stake in Sherwin-Williams by 20.9% in Q1, acquiring an additional 1,023 shares.
• Sherwin-Williams reported earnings per share (EPS) of $3.38 for the recent quarter, missing analysts' expectations of $3.76.
• The company announced a quarterly dividend of $0.79 per share, with the ex-dividend date set for August 15th, representing an annualized dividend yield of 0.9%.

Bank of Nova Scotia Trust Co. grew its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 20.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,915 shares of the specialty chemicals company's stock after buying an additional 1,023 shares during the period. Bank of Nova Scotia Trust Co.'s holdings in Sherwin-Williams were worth $2,065,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Voleon Capital Management LP bought a new position in shares of Sherwin-Williams in the fourth quarter worth approximately $2,011,000. Moors & Cabot Inc. boosted its position in shares of Sherwin-Williams by 0.4% in the first quarter. Moors & Cabot Inc. now owns 9,016 shares of the specialty chemicals company's stock worth $3,148,000 after purchasing an additional 39 shares during the period. Kingswood Wealth Advisors LLC boosted its position in shares of Sherwin-Williams by 25.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,006 shares of the specialty chemicals company's stock worth $352,000 after purchasing an additional 201 shares during the period. Sowell Financial Services LLC bought a new position in shares of Sherwin-Williams in the first quarter worth approximately $306,000. Finally, Wealthcare Advisory Partners LLC boosted its position in shares of Sherwin-Williams by 18.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 882 shares of the specialty chemicals company's stock worth $308,000 after purchasing an additional 137 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHW has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Mizuho dropped their target price on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Loop Capital dropped their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Citigroup dropped their target price on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Sherwin-Williams has a consensus rating of "Moderate Buy" and a consensus target price of $383.33.

Sherwin-Williams Trading Up 4.0%

Shares of SHW traded up $13.16 during midday trading on Friday, hitting $344.04. The stock had a trading volume of 4,073,916 shares, compared to its average volume of 1,916,019. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $400.42. The firm has a market cap of $85.78 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 3.25 and a beta of 1.16. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48. The stock's 50 day moving average is $346.15 and its 200 day moving average is $348.05.

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

Sherwin-Williams Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Sherwin-Williams's dividend payout ratio (DPR) is currently 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.