Vestcor Inc Raises Holdings in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Vestcor Inc increased its holdings in The Sherwin-Williams Company by 82.0% during the first quarter, now owning 7,947 shares worth approximately $2.775 million.
• Other hedge funds have also significantly increased their positions, with GAMMA Investing LLC showing a massive 41,717.1% growth, holding over 1.6 million shares.
• The company reported quarterly earnings of $3.38 EPS, missing expectations, while revenue remained at $6.31 billion, reflecting a 0.6% year-over-year increase.

Vestcor Inc grew its position in shares of The Sherwin-Williams Company (NYSE:SHW - Free Report) by 82.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,947 shares of the specialty chemicals company's stock after purchasing an additional 3,580 shares during the quarter. Vestcor Inc's holdings in Sherwin-Williams were worth $2,775,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SHW. GAMMA Investing LLC grew its holdings in shares of Sherwin-Williams by 41,717.1% during the first quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock worth $571,381,000 after purchasing an additional 1,632,391 shares during the last quarter. Capital Research Global Investors grew 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 purchasing an additional 960,724 shares during the last quarter. Barclays PLC grew 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 purchasing an additional 728,798 shares during the last quarter. Northern Trust Corp grew 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 purchasing an additional 595,586 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Sherwin-Williams during the fourth quarter worth about $103,359,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Sherwin-Williams Price Performance

SHW stock opened at $330.82 on Friday. The firm has a 50 day moving average of $346.33 and a 200-day moving average of $348.07. The Sherwin-Williams Company has a 12-month low of $308.84 and a 12-month high of $400.42. 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 company has a market cap of $82.48 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 3.14 and a beta of 1.18.

Sherwin-Williams (NYSE:SHW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same quarter in the previous year, the business posted $3.70 earnings per share. Sherwin-Williams's revenue was up .6% on a year-over-year basis. As a group, equities analysts expect that The Sherwin-Williams Company will post 12 EPS for the current fiscal 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 given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. Sherwin-Williams's dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SHW. BMO Capital Markets decreased 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 note on Wednesday, July 23rd. Wells Fargo & Company decreased their target price on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada increased their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Bank of America increased their target price on shares of Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a research note on Monday, June 23rd. Finally, Loop Capital decreased their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $383.33.

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.

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