The Sherwin-Williams Company $SHW Shares Bought by Maverick Capital Ltd.

Key Points

• Maverick Capital increased its Sherwin-Williams stake by 37.8% in the first quarter, acquiring 107,522 additional shares for a total position valued at approximately $125.6 million.
• Institutional ownership remains high at 77.67%, with major investors including Vanguard, Norges Bank, Viking Global Investors and UBS increasing their positions.
• Sherwin-Williams reported quarterly EPS of $2.35 and revenue of $5.67 billion, both ahead of estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $373.92, while the company declared a quarterly dividend of $0.80 per share.

Maverick Capital Ltd. grew its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 37.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,839 shares of the specialty chemicals company's stock after purchasing an additional 107,522 shares during the period. Sherwin-Williams makes up about 1.4% of Maverick Capital Ltd.'s investment portfolio, making the stock its 29th largest position. Maverick Capital Ltd. owned approximately 0.16% of Sherwin-Williams worth $125,604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SHW. Norges Bank acquired a new position in Sherwin-Williams in the 4th quarter worth $1,089,450,000. Viking Global Investors LP boosted its position in Sherwin-Williams by 101.4% in the 2nd quarter. Viking Global Investors LP now owns 1,957,750 shares of the specialty chemicals company's stock valued at $672,213,000 after buying an additional 985,520 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Sherwin-Williams by 53,827.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 662,225 shares of the specialty chemicals company's stock valued at $214,581,000 after acquiring an additional 660,997 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Sherwin-Williams by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company's stock valued at $7,529,752,000 after acquiring an additional 600,119 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Sherwin-Williams by 34.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,023,949 shares of the specialty chemicals company's stock worth $655,820,000 after acquiring an additional 513,126 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHW has been the subject of a number of analyst reports. Berenberg Bank set a $380.00 price target on Sherwin-Williams in a report on Monday, June 8th. Weiss Ratings downgraded Sherwin-Williams from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, July 17th. JPMorgan Chase & Co. cut their target price on Sherwin-Williams from $385.00 to $365.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Bank of America reduced their target price on Sherwin-Williams from $370.00 to $365.00 and set a "neutral" rating for the company in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Sherwin-Williams from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Sherwin-Williams presently has an average rating of "Moderate Buy" and an average target price of $373.92.

Sherwin-Williams Stock Up 3.1%

NYSE:SHW opened at $327.27 on Tuesday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.53 and a current ratio of 0.86. The company has a market capitalization of $80.72 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 2.47 and a beta of 1.10. The Sherwin-Williams Company has a one year low of $289.86 and a one year high of $379.65. The stock has a 50-day simple moving average of $321.21 and a 200 day simple moving average of $332.13.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.08. Sherwin-Williams had a return on equity of 64.55% and a net margin of 10.86%.The firm had revenue of $5.67 billion for the quarter, compared to analysts' expectations of $5.56 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. Sherwin-Williams's revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts predict that The Sherwin-Williams Company will post 11.78 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 21st. Sherwin-Williams's payout ratio is 30.71%.

Sherwin-Williams Company Profile

Sherwin-Williams NYSE: SHW is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.

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