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W.H. Cornerstone Investments Inc. Sells 1,352 Shares of The Sherwin-Williams Company (NYSE:SHW)

Sherwin-Williams logo with Basic Materials background

Key Points

  • W.H. Cornerstone Investments Inc. has reduced its stake in Sherwin-Williams by 28%, holding $1.22 million worth of shares, which represents 0.8% of its total portfolio.
  • The company reported Q2 earnings per share of $3.38, missing expectations by $0.38, though revenue matched consensus at $6.31 billion.
  • Sherwin-Williams announced a quarterly dividend of $0.79, yielding 0.9%, with a payout ratio of 31.35%, to be paid on September 5th.
  • Need Better Tools to Track Sherwin-Williams? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

W.H. Cornerstone Investments Inc. reduced its stake in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 28.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,484 shares of the specialty chemicals company's stock after selling 1,352 shares during the quarter. Sherwin-Williams makes up 0.8% of W.H. Cornerstone Investments Inc.'s investment portfolio, making the stock its 25th largest holding. W.H. Cornerstone Investments Inc.'s holdings in Sherwin-Williams were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC increased its position in shares of Sherwin-Williams by 1.6% during the 4th quarter. FMR LLC now owns 6,588,755 shares of the specialty chemicals company's stock valued at $2,239,715,000 after purchasing an additional 106,093 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Sherwin-Williams by 47.1% in the 4th 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 during the last quarter. Northern Trust Corp grew its position in 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 valued at $926,590,000 after buying an additional 595,586 shares during the period. Barclays PLC increased its holdings in 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sherwin-Williams by 6.5% in 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 acquiring an additional 111,128 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Sherwin-Williams Price Performance

NYSE:SHW traded down $0.71 during mid-day trading on Thursday, reaching $350.02. The stock had a trading volume of 1,410,271 shares, compared to its average volume of 1,775,594. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The firm has a 50 day moving average price of $345.83 and a two-hundred day moving average price of $348.05. The stock has a market capitalization of $87.27 billion, a P/E ratio of 34.72, a P/E/G ratio of 3.33 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the previous year, the firm posted $3.70 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts expect that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a $0.79 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

SHW has been the subject of a number of research reports. BMO Capital Markets reduced 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 report on Wednesday, July 23rd. Mizuho reduced their target price on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Citigroup decreased their price objective on Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, UBS Group decreased their price objective on Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams has a consensus rating of "Moderate Buy" and an average target price of $383.33.

Read Our Latest Stock Analysis on Sherwin-Williams

Sherwin-Williams Company Profile

(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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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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