SRS Capital Advisors Inc. bought a new position in Sherwin-Williams Co (NYSE:SHW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 504 shares of the specialty chemicals company’s stock, valued at approximately $231,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its stake in shares of Sherwin-Williams by 235.3% in the second quarter. Tortoise Investment Management LLC now owns 57 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Thor Advisors LLC purchased a new stake in shares of Sherwin-Williams in the first quarter worth $25,000. Hexavest Inc. purchased a new stake in shares of Sherwin-Williams in the second quarter worth $27,000. Next Capital Management LLC purchased a new stake in shares of Sherwin-Williams in the second quarter worth $27,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Sherwin-Williams in the first quarter worth $28,000. 76.72% of the stock is currently owned by hedge funds and other institutional investors.
In other Sherwin-Williams news, Director David F. Hodnik sold 501 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $521.57, for a total value of $261,306.57. Following the transaction, the director now owns 9,569 shares of the company’s stock, valued at $4,990,903.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jane M. Cronin sold 1,627 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $515.00, for a total value of $837,905.00. Following the completion of the transaction, the senior vice president now directly owns 3,598 shares in the company, valued at approximately $1,852,970. The disclosure for this sale can be found here. In the last three months, insiders sold 31,608 shares of company stock worth $15,329,391. 0.50% of the stock is owned by corporate insiders.
Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the prior year, the company earned $5.73 earnings per share. Sherwin-Williams’s revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that Sherwin-Williams Co will post 21.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, August 15th. Sherwin-Williams’s dividend payout ratio is 24.39%.
Several equities research analysts recently commented on the company. Morgan Stanley set a $600.00 price objective on Sherwin-Williams and gave the company a “buy” rating in a research report on Monday, August 12th. BMO Capital Markets increased their price objective on Sherwin-Williams to $517.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Credit Suisse Group increased their price objective on Sherwin-Williams from $487.00 to $525.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays increased their price objective on Sherwin-Williams from $470.00 to $505.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, KeyCorp increased their price objective on Sherwin-Williams from $500.00 to $525.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Sherwin-Williams currently has a consensus rating of “Buy” and a consensus target price of $522.58.
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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