Wolverine Asset Management LLC Boosts Stake in The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Wolverine Asset Management LLC significantly increased its shares in The Sherwin-Williams Company by 75%, owning 3,500 shares worth approximately $1.22 million as of the latest SEC filing.
• The Sherwin-Williams Company recently reported an EPS of $3.38 for the last quarter, falling short of analysts' expectations, and had revenues of $6.31 billion.
• A quarterly dividend of $0.79 will be paid to shareholders on September 5th, representing an annualized yield of 0.9% with a current payout ratio of 31.35%.

Wolverine Asset Management LLC boosted its position in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 75.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,500 shares of the specialty chemicals company's stock after buying an additional 1,500 shares during the period. Wolverine Asset Management LLC's holdings in Sherwin-Williams were worth $1,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Voleon Capital Management LP purchased a new stake in shares of Sherwin-Williams during the fourth quarter worth $2,011,000. Moors & Cabot Inc. lifted its position in shares of Sherwin-Williams by 0.4% during the first quarter. Moors & Cabot Inc. now owns 9,016 shares of the specialty chemicals company's stock worth $3,148,000 after acquiring an additional 39 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Sherwin-Williams by 25.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,006 shares of the specialty chemicals company's stock worth $352,000 after acquiring an additional 201 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Sherwin-Williams during the first quarter worth $306,000. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of Sherwin-Williams by 18.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 882 shares of the specialty chemicals company's stock worth $308,000 after acquiring an additional 137 shares in the last quarter. 77.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO James P. Lang sold 860 shares of the 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 completion of the sale, the chief accounting officer owned 377 shares of the company's stock, valued at $132,081.95. This represents a 69.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by insiders.

Sherwin-Williams Stock Up 0.8%

Shares of NYSE SHW traded up $2.65 during midday trading on Monday, reaching $354.81. 2,626,023 shares of the company's stock traded hands, compared to its average volume of 1,965,015. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The stock's 50 day simple moving average is $345.57 and its 200-day simple moving average is $347.77. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The company has a market cap of $88.47 billion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 3.33 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its quarterly earnings data 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 business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the prior year, the business posted $3.70 earnings per share. Sherwin-Williams's revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SHW shares. Wells Fargo & Company decreased their price target on shares of Sherwin-Williams from $420.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. UBS Group decreased their price target on shares of Sherwin-Williams from $410.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. BMO Capital Markets decreased their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Mizuho decreased their price target on shares of Sherwin-Williams from $400.00 to $385.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Finally, Loop Capital reduced their target price on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

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.