Commerce Bank raised its position in shares of Sherwin-Williams Co (NYSE:SHW) by 11.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,939 shares of the specialty chemicals company’s stock after purchasing an additional 1,392 shares during the period. Commerce Bank’s holdings in Sherwin-Williams were worth $6,406,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHW. Norges Bank purchased a new stake in Sherwin-Williams during the fourth quarter valued at about $456,140,000. Vontobel Asset Management Inc. boosted its position in Sherwin-Williams by 291.4% during the 1st quarter. Vontobel Asset Management Inc. now owns 485,080 shares of the specialty chemicals company’s stock valued at $240,025,000 after acquiring an additional 361,140 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in Sherwin-Williams by 1,708.5% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 309,967 shares of the specialty chemicals company’s stock valued at $142,436,000 after acquiring an additional 292,828 shares in the last quarter. Bank of Montreal Can boosted its position in Sherwin-Williams by 380.0% during the 4th quarter. Bank of Montreal Can now owns 296,072 shares of the specialty chemicals company’s stock valued at $172,771,000 after acquiring an additional 234,396 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Sherwin-Williams by 155.2% in the 4th quarter. Prudential Financial Inc. now owns 343,047 shares of the specialty chemicals company’s stock worth $200,182,000 after purchasing an additional 208,608 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.
SHW opened at $577.30 on Friday. The firm has a 50-day simple moving average of $512.13 and a two-hundred day simple moving average of $546.59. Sherwin-Williams Co has a 52 week low of $325.43 and a 52 week high of $599.95. The company has a market capitalization of $51.76 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 3.34 and a beta of 1.22. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 2.94.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.95 by $0.13. Sherwin-Williams had a net margin of 8.98% and a return on equity of 53.04%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The business’s revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Sherwin-Williams Co will post 19.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, May 21st. Sherwin-Williams’s payout ratio is 25.38%.
In related news, SVP Jane M. Cronin sold 908 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $492.14, for a total value of $446,863.12. Following the completion of the transaction, the senior vice president now owns 2,915 shares of the company’s stock, valued at approximately $1,434,588.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO David B. Sewell sold 5,752 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $571.13, for a total transaction of $3,285,139.76. Following the completion of the transaction, the chief operating officer now directly owns 14,100 shares of the company’s stock, valued at approximately $8,052,933. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,595 shares of company stock valued at $4,231,947. 0.55% of the stock is owned by insiders.
A number of analysts have recently commented on the company. Loop Capital boosted their price target on Sherwin-Williams from $530.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Deutsche Bank boosted their price target on Sherwin-Williams from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Wells Fargo & Co raised Sherwin-Williams from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $600.00 to $550.00 in a research report on Thursday, April 16th. Royal Bank of Canada dropped their price target on Sherwin-Williams from $631.00 to $611.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Citigroup upped their price objective on Sherwin-Williams from $555.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $574.39.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.
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