Whittier Trust Co. raised its stake in shares of Sherwin-Williams Co. (NYSE:SHW) by 5.0% during the second quarter, Holdings Channel reports. The firm owned 27,180 shares of the company’s stock after buying an additional 1,305 shares during the period. Whittier Trust Co.’s holdings in Sherwin-Williams were worth $7,981,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC raised its stake in shares of Sherwin-Williams by 3,771.4% in the first quarter. Acadian Asset Management LLC now owns 2,168 shares of the company’s stock valued at $617,000 after buying an additional 2,112 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Sherwin-Williams during the first quarter worth $246,000. Prudential Financial Inc. raised its position in Sherwin-Williams by 8.6% in the first quarter. Prudential Financial Inc. now owns 122,895 shares of the company’s stock worth $34,984,000 after buying an additional 9,690 shares during the last quarter. Franklin Resources Inc. raised its position in Sherwin-Williams by 7.8% in the first quarter. Franklin Resources Inc. now owns 13,535 shares of the company’s stock worth $3,853,000 after buying an additional 974 shares during the last quarter. Finally, BlackRock Group LTD raised its position in Sherwin-Williams by 19.1% in the first quarter. BlackRock Group LTD now owns 771,063 shares of the company’s stock worth $219,498,000 after buying an additional 123,539 shares during the last quarter. Institutional investors own 74.62% of the company’s stock.
Shares of Sherwin-Williams Co. (NYSE:SHW) traded up 0.40% during midday trading on Wednesday, hitting $272.09. 744,745 shares of the stock traded hands. The stock has a market cap of $24.97 billion, a price-to-earnings ratio of 22.94 and a beta of 0.92. Sherwin-Williams Co. has a 12-month low of $232.50 and a 12-month high of $312.48. The company’s 50 day moving average price is $281.90 and its 200-day moving average price is $290.77.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, July 21st. The company reported $4.06 EPS for the quarter, missing analysts’ consensus estimates of $4.16 by $0.10. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. Sherwin-Williams had a return on equity of 110.16% and a net margin of 9.50%. Sherwin-Williams’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.70 EPS. On average, equities research analysts expect that Sherwin-Williams Co. will post $12.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were paid a dividend of $0.84 per share. The ex-dividend date was Wednesday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.23%. Sherwin-Williams’s payout ratio is 28.84%.
A number of research firms have weighed in on SHW. Wells Fargo & Co. began coverage on shares of Sherwin-Williams in a research report on Wednesday, September 28th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 price target for the company in a research report on Monday, September 26th. Credit Agricole SA reiterated a “buy” rating and issued a $350.00 price target on shares of Sherwin-Williams in a research report on Wednesday, September 14th. Sterne Agee CRT upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $335.00 price target on shares of Sherwin-Williams in a research report on Saturday, August 13th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $324.31.
In related news, CEO John G. Morikis sold 30,353 shares of Sherwin-Williams stock in a transaction on Monday, August 1st. The shares were sold at an average price of $298.75, for a total value of $9,067,958.75. Following the sale, the chief executive officer now owns 119,804 shares of the company’s stock, valued at approximately $35,791,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joel D. Baxter sold 3,853 shares of Sherwin-Williams stock in a transaction on Friday, August 5th. The shares were sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the completion of the sale, the insider now directly owns 8,347 shares in the company, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.
Sherwin-Williams Company Profile
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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