The Sherwin-Williams Company (NYSE:SHW) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in The Sherwin-Williams Company by 9.3%, now holding over 110,203 shares valued at approximately $38.48 million.
• Sherwin-Williams reported a missed earnings estimate of $3.38 per share for its last quarter, falling short of the expected $3.76.
• The company announced a quarterly dividend of $0.79 per share, indicating a dividend yield of 0.93% based on an annualized payout of $3.16.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 9.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,203 shares of the specialty chemicals company's stock after buying an additional 9,396 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Sherwin-Williams were worth $38,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in shares of Sherwin-Williams in the 4th quarter worth about $27,000. Perkins Coie Trust Co bought a new stake in shares of Sherwin-Williams in the 1st quarter worth about $27,000. Synergy Investment Management LLC increased its position 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 worth $29,000 after purchasing an additional 70 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Sherwin-Williams in the 1st quarter worth about $30,000. Finally, HWG Holdings LP bought a new stake in shares of Sherwin-Williams in the 1st quarter worth about $46,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Wall Street Analysts Forecast Growth

SHW has been the subject of several research analyst 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. Barclays dropped their target price on shares of Sherwin-Williams from $385.00 to $355.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. BMO Capital Markets dropped their target price on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Loop Capital lowered their price objective 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. Finally, Bank of America boosted their price objective on shares of Sherwin-Williams from $289.00 to $296.00 and gave the company an "underperform" rating in a research report on Monday, June 23rd. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $383.33.

Sherwin-Williams Stock Performance

Sherwin-Williams stock traded up $0.89 during midday trading on Tuesday, reaching $337.05. 1,511,701 shares of the stock traded hands, compared to its average volume of 1,760,109. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. The firm has a fifty day moving average price of $347.64 and a two-hundred day moving average price of $348.30. The firm has a market cap of $84.46 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 3.21 and a beta of 1.18. The Sherwin-Williams Company has a fifty-two week low of $308.84 and a fifty-two week high of $400.42.

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 for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The company 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 company's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $3.70 earnings per share. On average, equities research analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently declared 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 0.94%. The ex-dividend date is Friday, August 15th. Sherwin-Williams's dividend 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.