Sigma Planning Corp grew its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 120.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,326 shares of the specialty chemicals company’s stock after purchasing an additional 4,554 shares during the quarter. Sigma Planning Corp’s holdings in The Sherwin-Williams were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. purchased a new position in shares of The Sherwin-Williams during the first quarter worth approximately $104,000. Quilter Plc grew its position in shares of The Sherwin-Williams by 77.1% during the first quarter. Quilter Plc now owns 689 shares of the specialty chemicals company’s stock worth $509,000 after acquiring an additional 300 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of The Sherwin-Williams by 198.1% during the first quarter. Pinnacle Associates Ltd. now owns 1,386 shares of the specialty chemicals company’s stock worth $1,023,000 after acquiring an additional 921 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of The Sherwin-Williams by 38.6% during the first quarter. Cresset Asset Management LLC now owns 2,697 shares of the specialty chemicals company’s stock worth $1,990,000 after acquiring an additional 751 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of The Sherwin-Williams by 202.1% during the first quarter. Geode Capital Management LLC now owns 3,459,174 shares of the specialty chemicals company’s stock worth $851,449,000 after acquiring an additional 2,314,238 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on the stock. Citigroup lowered shares of The Sherwin-Williams from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $331.00 to $309.00 in a research report on Thursday, September 9th. Mizuho assumed coverage on shares of The Sherwin-Williams in a research report on Tuesday. They issued a “buy” rating and a $352.00 price objective on the stock. KeyCorp lifted their price objective on shares of The Sherwin-Williams from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, August 2nd. Royal Bank of Canada lowered their price objective on shares of The Sherwin-Williams from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 29th. Finally, Wells Fargo & Company lowered their price objective on shares of The Sherwin-Williams from $330.00 to $327.00 and set an “overweight” rating on the stock in a research report on Thursday, September 30th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $340.89.
NYSE:SHW opened at $289.94 on Thursday. The company has a market capitalization of $76.34 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 2.60 and a beta of 1.08. The company has a quick ratio of 0.55, a current ratio of 0.84 and a debt-to-equity ratio of 2.68. The Sherwin-Williams Company has a 52-week low of $218.06 and a 52-week high of $310.43. The stock has a fifty day simple moving average of $297.27 and a 200-day simple moving average of $286.40.
The Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Monday, July 26th. The specialty chemicals company reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.03). The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.39 billion. The Sherwin-Williams had a return on equity of 72.71% and a net margin of 11.05%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the firm earned $7.10 EPS. As a group, equities analysts anticipate that The Sherwin-Williams Company will post 9.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 20th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, August 19th. The Sherwin-Williams’s payout ratio is 26.86%.
The Sherwin-Williams Company Profile
The Sherwin-Williams Co engages in the manufacture and trade of paint and coatings. It operates through the following segments: America Group, Consumer Brands Group, and Performance Coating Group. The America Group segment manages the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment, and floor covering.
Further Reading: Cash Asset Ratio
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