Triton Financial Group Inc Invests $1.44 Million in The Sherwin-Williams Company $SHW

Key Points

• Triton Financial Group Inc. has invested $1.44 million in The Sherwin-Williams Company, acquiring 4,196 shares during the second quarter.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have also increased their stakes in Sherwin-Williams, indicating strong institutional interest.
• Sherwin-Williams recently reported earnings per share of $3.38 for the quarter, missing the consensus estimate, but showed a slight year-over-year revenue increase of 0.6%.

Triton Financial Group Inc purchased a new position in The Sherwin-Williams Company (NYSE:SHW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,196 shares of the specialty chemicals company's stock, valued at approximately $1,441,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Sherwin-Williams by 1.1% in the first quarter. Vanguard Group Inc. now owns 22,082,544 shares of the specialty chemicals company's stock valued at $7,711,004,000 after acquiring an additional 245,896 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Sherwin-Williams by 21.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,657,536 shares of the specialty chemicals company's stock valued at $3,023,126,000 after acquiring an additional 1,505,341 shares during the last quarter. Alliancebernstein L.P. increased its stake in Sherwin-Williams by 2.2% in the first quarter. Alliancebernstein L.P. now owns 4,409,209 shares of the specialty chemicals company's stock valued at $1,539,652,000 after acquiring an additional 93,209 shares during the last quarter. PineStone Asset Management Inc. increased its stake in Sherwin-Williams by 12.0% in the second quarter. PineStone Asset Management Inc. now owns 1,681,100 shares of the specialty chemicals company's stock valued at $577,222,000 after acquiring an additional 180,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Sherwin-Williams by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,536,398 shares of the specialty chemicals company's stock valued at $536,495,000 after acquiring an additional 64,325 shares during the last quarter. Institutional investors own 77.67% of the company's stock.

Insider Activity at Sherwin-Williams

In other news, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $368.82, for a total transaction of $224,611.38. Following the completion of the transaction, the insider directly owned 17,922 shares in the company, valued at approximately $6,609,992.04. This trade represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James P. Lang sold 860 shares of Sherwin-Williams stock in a transaction that occurred 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 transaction, the chief accounting officer owned 377 shares of the company's stock, valued at $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SHW shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Sherwin-Williams in a research note on Wednesday, October 8th. Evercore ISI increased their target price on Sherwin-Williams from $380.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Mizuho reduced their price objective on Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company set a $395.00 price objective on Sherwin-Williams and gave the company an "overweight" rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $387.13.

Sherwin-Williams Stock Down 0.0%

NYSE SHW opened at $330.72 on Tuesday. 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 stock has a market capitalization of $82.46 billion, a PE ratio of 32.81, a PEG ratio of 3.10 and a beta of 1.20. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $400.42. The business's 50-day moving average is $352.74 and its 200 day moving average is $347.94.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its earnings results 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). The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.70 earnings per share. Sell-side analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current year.

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.

Want to see what other hedge funds are holding SHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Sherwin-Williams Company (NYSE:SHW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.