Resona Asset Management Co. Ltd. raised its stake in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,699 shares of the specialty chemicals company's stock after buying an additional 6,422 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Sherwin-Williams were worth $28,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in SHW. Voleon Capital Management LP purchased a new position in shares of Sherwin-Williams in the 4th quarter worth approximately $2,011,000. Moors & Cabot Inc. boosted its holdings in shares of Sherwin-Williams by 0.4% in the 1st 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 holdings in shares of Sherwin-Williams by 25.0% in the 1st 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 purchased a new position in shares of Sherwin-Williams in the 1st quarter worth approximately $306,000. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of Sherwin-Williams by 18.4% in the 1st 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. Hedge funds and other institutional investors own 77.67% of the company's stock.
Sherwin-Williams Trading Down 0.4%
SHW stock traded down $1.39 during midday trading on Friday, hitting $364.18. 1,785,134 shares of the company's stock were exchanged, compared to its average volume of 1,797,848. 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 stock has a market capitalization of $90.80 billion, a PE ratio of 36.13, a P/E/G ratio of 3.49 and a beta of 1.16. The Sherwin-Williams Company has a 1-year low of $308.84 and a 1-year high of $400.42. The business has a 50-day simple moving average of $345.87 and a two-hundred day simple moving average of $348.00.
Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The business's revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.
Sherwin-Williams Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams's dividend payout ratio is currently 31.35%.
Insider Activity at Sherwin-Williams
In related news, CAO James P. Lang sold 860 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $350.35, for a total transaction of $301,301.00. Following the sale, the chief accounting officer directly owned 377 shares in the company, valued at $132,081.95. This trade represents a 69.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on SHW shares. Royal Bank Of Canada raised their price target on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Citigroup decreased their price target on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Bank of America raised Sherwin-Williams from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $296.00 to $375.00 in a research report on Thursday. UBS Group decreased their target price on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sherwin-Williams currently has an average rating of "Moderate Buy" and a consensus target price of $388.60.
View Our Latest Research Report on Sherwin-Williams
About Sherwin-Williams
(
Free Report)
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.
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