Benjamin Edwards Inc. Has $48.38 Million Stake in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Benjamin Edwards Inc. has increased its holdings in Sherwin-Williams by 12%, now owning approximately 0.06% of the company valued at $48.38 million.
• Multiple institutional investors boosted their positions during the first quarter, resulting in institutional ownership rising to 77.67% of the company's stock.
• Sherwin-Williams announced a quarterly dividend of $0.79 per share, with a dividend yield of 0.9% to be paid on September 5th.

Benjamin Edwards Inc. raised its holdings in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,537 shares of the specialty chemicals company's stock after purchasing an additional 14,847 shares during the period. Benjamin Edwards Inc. owned 0.06% of Sherwin-Williams worth $48,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC boosted its position in shares of Sherwin-Williams by 3.4% in the first quarter. Frank Rimerman Advisors LLC now owns 3,395 shares of the specialty chemicals company's stock valued at $1,186,000 after acquiring an additional 111 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Sherwin-Williams during the 1st quarter valued at $11,108,000. Zions Bancorporation National Association UT bought a new stake in shares of Sherwin-Williams during the 1st quarter worth $5,204,000. Townsquare Capital LLC grew its holdings in Sherwin-Williams by 10.8% during the 1st quarter. Townsquare Capital LLC now owns 31,521 shares of the specialty chemicals company's stock valued at $11,007,000 after buying an additional 3,076 shares in the last quarter. Finally, Founders Financial Alliance LLC purchased a new position in shares of Sherwin-Williams during the first quarter worth about $308,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America increased their price objective on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a report on Monday, June 23rd. Citigroup dropped their target price on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Loop Capital reduced their price target on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, UBS Group decreased their target price on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $383.33.

Insider Activity at Sherwin-Williams

In other news, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the transaction, the chief accounting officer owned 377 shares in the company, valued at approximately $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

Sherwin-Williams Price Performance

Shares of SHW traded up $2.65 during trading hours on Monday, hitting $354.81. 2,626,023 shares of the stock were exchanged, compared to its average volume of 1,965,015. 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 stock's 50-day moving average price is $345.58 and its two-hundred day moving average price is $347.80. The company has a market cap of $88.47 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 3.33 and a beta of 1.16. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its 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). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.31 billion. During the same quarter last year, the business posted $3.70 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. Research analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders 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 dividend yield of 0.9%. The ex-dividend date of this dividend 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.