Sherwin-Williams Company (The) (SHW) Shares Sold by Fred Alger Management Inc.

Fred Alger Management Inc. trimmed its position in Sherwin-Williams Company (The) (NYSE:SHW) by 88.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,212 shares of the specialty chemicals company’s stock after selling 61,128 shares during the quarter. Fred Alger Management Inc.’s holdings in Sherwin-Williams Company (The) were worth $2,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Sherwin-Williams Company (The) by 62.8% in the 2nd quarter. Royal Bank of Canada now owns 107,246 shares of the specialty chemicals company’s stock valued at $37,641,000 after acquiring an additional 41,358 shares during the last quarter. AHL Partners LLP increased its holdings in shares of Sherwin-Williams Company (The) by 11.1% in the 2nd quarter. AHL Partners LLP now owns 10,495 shares of the specialty chemicals company’s stock valued at $3,684,000 after acquiring an additional 1,049 shares during the last quarter. Zurich Insurance Group Ltd FI increased its holdings in shares of Sherwin-Williams Company (The) by 9.9% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 14,847 shares of the specialty chemicals company’s stock valued at $5,211,000 after acquiring an additional 1,340 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Sherwin-Williams Company (The) in the 2nd quarter valued at approximately $176,000. Finally, Sun Life Financial INC increased its holdings in shares of Sherwin-Williams Company (The) by 4,461.5% in the 2nd quarter. Sun Life Financial INC now owns 593 shares of the specialty chemicals company’s stock valued at $208,000 after acquiring an additional 580 shares during the last quarter. Institutional investors and hedge funds own 73.83% of the company’s stock.

Sherwin-Williams Company (NYSE SHW) opened at 383.47 on Friday. Sherwin-Williams Company has a 1-year low of $239.48 and a 1-year high of $383.64. The company has a market cap of $35.60 billion, a PE ratio of 31.61 and a beta of 1.22. The stock has a 50 day moving average price of $347.85 and a 200 day moving average price of $339.05.

Sherwin-Williams Company (The) (NYSE:SHW) last posted its earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.54 by ($0.02). The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. Sherwin-Williams Company (The) had a return on equity of 63.81% and a net margin of 9.14%. Sherwin-Williams Company (The)’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.06 EPS. Equities analysts forecast that Sherwin-Williams Company will post $14.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $3.40 dividend on an annualized basis and a yield of 0.89%. Sherwin-Williams Company (The)’s dividend payout ratio is 28.05%.

A number of brokerages have recently weighed in on SHW. BidaskClub downgraded Sherwin-Williams Company (The) from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Morgan Stanley set a $425.00 price target on Sherwin-Williams Company (The) and gave the company an “overweight” rating in a report on Wednesday. Credit Suisse Group reiterated an “outperform” rating and issued a $410.00 price target (up from $375.00) on shares of Sherwin-Williams Company (The) in a report on Wednesday. KeyCorp reiterated an “overweight” rating and issued a $440.00 price target (up from $415.00) on shares of Sherwin-Williams Company (The) in a report on Wednesday. Finally, Vertical Research reiterated a “hold” rating and issued a $375.00 price target (up from $335.00) on shares of Sherwin-Williams Company (The) in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Sherwin-Williams Company (The) presently has a consensus rating of “Buy” and a consensus price target of $385.51.

TRADEMARK VIOLATION NOTICE: “Sherwin-Williams Company (The) (SHW) Shares Sold by Fred Alger Management Inc.” was first reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://transcriptdaily.com/2017/10/08/sherwin-williams-company-the-shw-shares-sold-by-fred-alger-management-inc.html.

About Sherwin-Williams Company (The)

The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.

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

Receive News & Ratings for Sherwin-Williams Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sherwin-Williams Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply