Pictet Asset Management Ltd. boosted its position in Sherwin-Williams Co (NYSE:SHW) by 56.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,860 shares of the specialty chemicals company’s stock after buying an additional 25,467 shares during the period. Pictet Asset Management Ltd. owned 0.08% of Sherwin-Williams worth $21,980,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in SHW. Norges Bank purchased a new stake in shares of Sherwin-Williams during the fourth quarter worth about $178,773,000. Scharf Investments LLC purchased a new stake in shares of Sherwin-Williams during the fourth quarter worth about $100,881,000. Russell Investments Group Ltd. purchased a new stake in shares of Sherwin-Williams during the fourth quarter worth about $64,501,000. State Street Corp increased its stake in shares of Sherwin-Williams by 6.7% in the fourth quarter. State Street Corp now owns 3,793,288 shares of the specialty chemicals company’s stock worth $1,019,409,000 after buying an additional 236,704 shares in the last quarter. Finally, State Treasurer State of Michigan increased its stake in shares of Sherwin-Williams by 721.1% in the first quarter. State Treasurer State of Michigan now owns 216,691 shares of the specialty chemicals company’s stock worth $67,215,000 after buying an additional 190,300 shares in the last quarter. Institutional investors and hedge funds own 72.94% of the company’s stock.
Sherwin-Williams Co (NYSE:SHW) traded up 0.61% during midday trading on Friday, hitting $333.23. 276,048 shares of the stock traded hands. The company’s 50-day moving average is $324.26 and its 200-day moving average is $295.86. Sherwin-Williams Co has a one year low of $239.48 and a one year high of $339.62. The company has a market cap of $30.84 billion, a PE ratio of 26.11 and a beta of 1.00.
Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, April 20th. The specialty chemicals company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.20. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.72 billion. Sherwin-Williams had a net margin of 9.40% and a return on equity of 82.20%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. Equities research analysts expect that Sherwin-Williams Co will post $14.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $3.40 annualized dividend and a dividend yield of 1.03%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 28.50%.
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SHW has been the subject of a number of recent analyst reports. KeyCorp upgraded shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a report on Tuesday, April 4th. Zacks Investment Research upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $347.00 price target for the company in a report on Tuesday, March 28th. Royal Bank of Canada reaffirmed a “buy” rating and set a $350.00 price objective on shares of Sherwin-Williams in a research report on Tuesday, March 28th. Barclays PLC increased their price objective on shares of Sherwin-Williams from $310.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Monday, April 24th. Finally, Vetr cut shares of Sherwin-Williams from a “buy” rating to a “hold” rating and set a $313.74 price objective for the company. in a research report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. Sherwin-Williams has an average rating of “Buy” and an average target price of $340.73.
In other Sherwin-Williams news, Director Susan J. Kropf sold 2,000 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $338.93, for a total transaction of $677,860.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Catherine M. Kilbane sold 22,635 shares of the stock in a transaction on Friday, April 21st. The shares were sold at an average price of $324.47, for a total transaction of $7,344,378.45. Following the transaction, the senior vice president now owns 16,635 shares in the company, valued at $5,397,558.45. The disclosure for this sale can be found here. Insiders sold 46,955 shares of company stock valued at $15,525,668 over the last 90 days. Insiders own 1.89% of the company’s stock.
Sherwin-Williams Company Profile
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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