Slow Capital Inc. lessened its stake in Sherwin-Williams Co (NYSE:SHW) by 6.8% in the second quarter, HoldingsChannel.com reports. The firm owned 6,459 shares of the specialty chemicals company’s stock after selling 474 shares during the quarter. Sherwin-Williams accounts for 1.2% of Slow Capital Inc.’s portfolio, making the stock its 14th largest position. Slow Capital Inc.’s holdings in Sherwin-Williams were worth $2,960,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Sherwin-Williams by 2.2% during the 1st quarter. Fifth Third Bancorp now owns 97,612 shares of the specialty chemicals company’s stock valued at $42,042,000 after acquiring an additional 2,103 shares in the last quarter. Capital Innovations LLC acquired a new position in shares of Sherwin-Williams in the 1st quarter valued at $215,000. First Citizens Bank & Trust Co. boosted its stake in Sherwin-Williams by 9.5% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 2,888 shares of the specialty chemicals company’s stock worth $1,324,000 after purchasing an additional 251 shares during the period. WCM Investment Management LLC increased its stake in shares of Sherwin-Williams by 1.1% in the first quarter. WCM Investment Management LLC now owns 184,217 shares of the specialty chemicals company’s stock worth $79,345,000 after buying an additional 2,054 shares during the last quarter. Finally, Baxter Bros Inc. increased its stake in shares of Sherwin-Williams by 5.3% in the first quarter. Baxter Bros Inc. now owns 13,006 shares of the specialty chemicals company’s stock worth $5,602,000 after buying an additional 657 shares during the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.
A number of brokerages have issued reports on SHW. Susquehanna Bancshares increased their price target on Sherwin-Williams from $545.00 to $580.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their price target on Sherwin-Williams to $517.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. Buckingham Research increased their price target on Sherwin-Williams from $440.00 to $460.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. KeyCorp increased their price target on Sherwin-Williams from $500.00 to $525.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on Sherwin-Williams from $435.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $513.37.
In other Sherwin-Williams news, Director Jeff M. Fettig bought 500 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was bought at an average cost of $432.07 per share, for a total transaction of $216,035.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John G. Morikis sold 16,260 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $471.26, for a total value of $7,662,687.60. Following the completion of the sale, the chairman now owns 112,276 shares of the company’s stock, valued at $52,911,187.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,608 shares of company stock valued at $15,329,391. 0.50% of the stock is currently owned by corporate insiders.
Shares of NYSE:SHW traded up $10.35 during midday trading on Tuesday, reaching $526.08. The company’s stock had a trading volume of 18,055 shares, compared to its average volume of 651,687. Sherwin-Williams Co has a fifty-two week low of $355.28 and a fifty-two week high of $524.00. The company has a market capitalization of $47.95 billion, a P/E ratio of 28.38, a P/E/G ratio of 2.04 and a beta of 1.28. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29. The stock’s fifty day simple moving average is $482.63.
Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.35 by $0.22. Sherwin-Williams had a return on equity of 48.92% and a net margin of 6.61%. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period last year, the company posted $5.73 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts predict that Sherwin-Williams Co will post 21.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a $1.13 dividend. The ex-dividend date is Thursday, August 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.86%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 24.39%.
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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