Grisanti Capital Management LLC bought a new position in shares of Sherwin-Williams Co (NYSE:SHW) in the 2nd quarter, Holdings Channel reports. The fund bought 9,660 shares of the specialty chemicals company’s stock, valued at approximately $4,427,000. Sherwin-Williams makes up 2.4% of Grisanti Capital Management LLC’s portfolio, making the stock its 16th biggest position.
Several other hedge funds also recently made changes to their positions in SHW. Investors Research Corp bought a new stake in shares of Sherwin-Williams during the 1st quarter worth about $25,000. Thor Advisors LLC bought a new stake in shares of Sherwin-Williams during the 1st quarter worth about $25,000. Hexavest Inc. bought a new stake in shares of Sherwin-Williams during the 2nd quarter worth about $27,000. Next Capital Management LLC bought a new stake in shares of Sherwin-Williams during the 2nd quarter worth about $27,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Sherwin-Williams during the 1st quarter worth about $28,000. 76.05% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on SHW. JPMorgan Chase & Co. lifted their target price on shares of Sherwin-Williams from $435.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Zacks Investment Research raised shares of Sherwin-Williams from a “sell” rating to a “hold” rating and set a $526.00 target price for the company in a report on Thursday, July 25th. UBS Group lifted their target price on shares of Sherwin-Williams from $448.00 to $460.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Deutsche Bank boosted their price objective on shares of Sherwin-Williams from $490.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price objective on shares of Sherwin-Williams from $470.00 to $505.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Sherwin-Williams currently has an average rating of “Buy” and a consensus target price of $518.63.
NYSE SHW traded up $9.89 during trading on Friday, reaching $530.09. The company’s stock had a trading volume of 571,400 shares, compared to its average volume of 648,928. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 2.02 and a beta of 1.28. Sherwin-Williams Co has a 12 month low of $355.28 and a 12 month high of $532.02. The firm has a 50 day moving average price of $487.52 and a 200 day moving average price of $452.22.
Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 EPS for the quarter, beating the consensus estimate of $6.35 by $0.22. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.73 EPS. On average, equities analysts forecast that Sherwin-Williams Co will post 21.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, August 15th. Sherwin-Williams’s payout ratio is presently 24.39%.
In other news, Director Jeff M. Fettig bought 500 shares of the company’s 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman John G. Morikis sold 16,260 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $471.26, for a total transaction of $7,662,687.60. Following the completion of the transaction, 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. Insiders sold a total of 31,608 shares of company stock valued at $15,329,391 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.
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. 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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