Next Capital Management LLC purchased a new stake in shares of Sherwin-Williams Co (NYSE:SHW) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 60 shares of the specialty chemicals company’s stock, valued at approximately $27,000.
A number of other hedge funds also recently made changes to their positions in SHW. Investors Research Corp acquired a new stake in shares of Sherwin-Williams in the first quarter worth $25,000. Thor Advisors LLC acquired a new stake in shares of Sherwin-Williams in the first quarter worth $25,000. Hexavest Inc. acquired a new stake in shares of Sherwin-Williams in the second quarter worth $27,000. Penserra Capital Management LLC acquired a new stake in shares of Sherwin-Williams in the first quarter worth $28,000. Finally, Ibex Wealth Advisors acquired a new stake in shares of Sherwin-Williams in the second quarter worth $40,000. Institutional investors own 76.05% of the company’s stock.
Several equities research analysts have recently issued reports on SHW shares. Credit Suisse Group raised their price objective on shares of Sherwin-Williams from $487.00 to $525.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Argus raised their price objective on shares of Sherwin-Williams from $480.00 to $527.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Buckingham Research raised their price objective on shares of Sherwin-Williams from $440.00 to $460.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. BMO Capital Markets raised their price objective on shares of 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Sherwin-Williams from $435.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Sherwin-Williams currently has an average rating of “Buy” and a consensus price target of $518.63.
In other Sherwin-Williams news, Chairman John G. Morikis sold 16,260 shares of Sherwin-Williams stock in a transaction on Wednesday, June 12th. The stock was 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 directly owns 112,276 shares of the company’s stock, valued at $52,911,187.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeff M. Fettig acquired 500 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were bought at an average cost of $432.07 per share, with a total value of $216,035.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 31,608 shares of company stock valued at $15,329,391. 0.50% of the stock is owned by company insiders.
SHW stock traded up $9.89 during midday trading on Friday, hitting $530.09. The stock had a trading volume of 571,400 shares, compared to its average volume of 648,928. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 28.61, a P/E/G ratio of 2.02 and a beta of 1.28. Sherwin-Williams Co has a 52 week low of $355.28 and a 52 week high of $532.02. The stock has a 50-day simple moving average of $487.52 and a 200 day simple moving average of $452.22. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 2.29.
Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.35 by $0.22. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Sherwin-Williams had a return on equity of 48.92% and a net margin of 6.61%. Sherwin-Williams’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $5.73 earnings per share. On average, equities analysts forecast that Sherwin-Williams Co will post 21.1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be given a $1.13 dividend. The ex-dividend date is Thursday, August 15th. This represents a $4.52 annualized dividend and a yield of 0.85%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 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.
Further Reading: How to calculate the intrinsic value of a stock
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