Captrust Financial Advisors boosted its holdings in Sherwin-Williams Co (NYSE:SHW) by 16.4% during the second quarter, Holdings Channel reports. The fund owned 1,220 shares of the specialty chemicals company’s stock after buying an additional 172 shares during the quarter. Captrust Financial Advisors’ holdings in Sherwin-Williams were worth $497,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. increased its stake in Sherwin-Williams by 0.9% in the 1st quarter. BlackRock Inc. now owns 5,633,466 shares of the specialty chemicals company’s stock worth $2,208,994,000 after acquiring an additional 47,494 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Sherwin-Williams by 2.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,965,703 shares of the specialty chemicals company’s stock worth $1,616,302,000 after acquiring an additional 103,497 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Sherwin-Williams by 4.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,396,160 shares of the specialty chemicals company’s stock worth $547,463,000 after acquiring an additional 58,419 shares during the last quarter. Fiera Capital Corp increased its stake in Sherwin-Williams by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 1,327,123 shares of the specialty chemicals company’s stock worth $540,895,000 after acquiring an additional 15,992 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Sherwin-Williams by 5.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,118,210 shares of the specialty chemicals company’s stock worth $438,474,000 after acquiring an additional 61,587 shares during the last quarter. Institutional investors and hedge funds own 78.94% of the company’s stock.
SHW has been the subject of a number of research reports. Credit Suisse Group set a $457.00 price objective on Sherwin-Williams and gave the stock a “buy” rating in a report on Wednesday, May 23rd. Morgan Stanley upped their price objective on Sherwin-Williams from $425.00 to $455.00 and gave the stock an “overweight” rating in a report on Tuesday, July 17th. Royal Bank of Canada reiterated a “buy” rating and issued a $485.00 price objective on shares of Sherwin-Williams in a report on Wednesday, July 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $465.00 price objective on shares of Sherwin-Williams in a report on Wednesday, July 25th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $450.00 price objective (up from $410.00) on shares of Sherwin-Williams in a report on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $461.60.
In related news, Chairman John G. Morikis sold 20,946 shares of the stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $439.30, for a total transaction of $9,201,577.80. Following the completion of the sale, the chairman now directly owns 104,907 shares in the company, valued at approximately $46,085,645.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan J. Kropf sold 995 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $445.43, for a total value of $443,202.85. The disclosure for this sale can be found here. Insiders have sold a total of 34,775 shares of company stock valued at $15,411,619 over the last 90 days. 0.78% of the stock is currently owned by company insiders.
Shares of SHW stock opened at $462.39 on Friday. The stock has a market cap of $42.54 billion, a P/E ratio of 32.40, a P/E/G ratio of 1.98 and a beta of 1.24. Sherwin-Williams Co has a 1-year low of $336.27 and a 1-year high of $464.95. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.20 and a quick ratio of 0.75.
Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 24th. The specialty chemicals company reported $5.73 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.14. The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Sherwin-Williams had a return on equity of 46.68% and a net margin of 10.84%. Sherwin-Williams’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.52 EPS. equities research analysts expect that Sherwin-Williams Co will post 19.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 17th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, August 16th. Sherwin-Williams’s dividend payout ratio is presently 24.11%.
Sherwin-Williams Company Profile
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers primarily in North and South America, the Caribbean, Europe, Asia, and Australia. The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group.
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