Townsquare Capital LLC Purchases 3,076 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Townsquare Capital LLC has increased its stake in Sherwin-Williams by 10.8%, owning a total of 31,521 shares valued at approximately $11 million at the end of the first quarter.
• Institutional investors and hedge funds collectively own 77.67% of Sherwin-Williams' stock, indicating strong institutional interest in the company.
• Sherwin-Williams recently reported earnings per share (EPS) of $3.38 for the last quarter, which fell short of analysts' estimates by $0.38.

Townsquare Capital LLC boosted its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,521 shares of the specialty chemicals company's stock after acquiring an additional 3,076 shares during the period. Townsquare Capital LLC's holdings in Sherwin-Williams were worth $11,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Sherwin-Williams by 1.1% during the first quarter. Vanguard Group Inc. now owns 22,082,544 shares of the specialty chemicals company's stock worth $7,711,004,000 after acquiring an additional 245,896 shares during the period. Capital Research Global Investors lifted its holdings in shares of Sherwin-Williams by 47.1% during the fourth quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock worth $1,019,329,000 after buying an additional 960,724 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Sherwin-Williams by 28.0% during the fourth quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock worth $926,590,000 after buying an additional 595,586 shares in the last quarter. Barclays PLC lifted its holdings in shares of Sherwin-Williams by 54.2% during the fourth quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company's stock worth $704,855,000 after buying an additional 728,798 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Sherwin-Williams by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,826,498 shares of the specialty chemicals company's stock worth $620,881,000 after buying an additional 111,128 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company's stock.

Sherwin-Williams Price Performance

SHW stock traded up $2.65 during midday trading on Monday, reaching $354.81. The company had a trading volume of 2,626,023 shares, compared to its average volume of 1,965,015. 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 company has a market capitalization 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 1-year low of $308.84 and a 1-year high of $400.42. The stock has a 50 day moving average price of $345.58 and a 200-day moving average price of $347.80.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its 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 business had revenue of $6.31 billion for 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 firm's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 EPS. Equities research analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 annualized dividend and a yield of 0.9%. Sherwin-Williams's payout ratio is presently 31.35%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SHW. Bank of America lifted their target price on Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a report on Monday, June 23rd. Wells Fargo & Company dropped their target price on Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Morgan Stanley dropped their target price on Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Loop Capital dropped their target price on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their price target on Sherwin-Williams from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

Insider Buying and Selling

In other Sherwin-Williams news, CAO James P. Lang sold 860 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the completion of the transaction, the chief accounting officer owned 377 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

Sherwin-Williams Company 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.