Avantax Planning Partners Inc. increased its position in shares of The Sherwin-Williams Company (NYSE:SHW) by 201.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,461 shares of the specialty chemicals company’s stock after buying an additional 976 shares during the period. Avantax Planning Partners Inc.’s holdings in The Sherwin-Williams were worth $398,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SHW. Wealthcare Advisory Partners LLC bought a new position in The Sherwin-Williams during the first quarter worth $30,000. Daiwa Securities Group Inc. raised its stake in The Sherwin-Williams by 1.8% during the first quarter. Daiwa Securities Group Inc. now owns 4,170 shares of the specialty chemicals company’s stock worth $1,026,000 after buying an additional 72 shares during the last quarter. Victory Capital Management Inc. raised its stake in The Sherwin-Williams by 9.5% during the first quarter. Victory Capital Management Inc. now owns 75,076 shares of the specialty chemicals company’s stock worth $55,407,000 after buying an additional 6,538 shares during the last quarter. Unigestion Holding SA bought a new position in The Sherwin-Williams during the first quarter worth $1,270,000. Finally, Wade G W & Inc. raised its stake in The Sherwin-Williams by 139.6% during the first quarter. Wade G W & Inc. now owns 1,167 shares of the specialty chemicals company’s stock worth $861,000 after buying an additional 680 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.
In other The Sherwin-Williams news, CEO John G. Morikis sold 155,520 shares of The Sherwin-Williams stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $288.92, for a total value of $44,932,838.40. Following the sale, the chief executive officer now owns 433,251 shares of the company’s stock, valued at $125,174,878.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Peter J. Ippolito sold 12,390 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $302.42, for a total transaction of $3,746,983.80. Following the completion of the sale, the senior vice president now directly owns 1,941 shares in the company, valued at approximately $586,997.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,903 shares of company stock worth $62,244,621. 0.51% of the stock is owned by corporate insiders.
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 for the quarter, missing the consensus estimate of $2.68 by ($0.03). The Sherwin-Williams had a return on equity of 72.71% and a net margin of 11.05%. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the firm posted $7.10 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, analysts predict that The Sherwin-Williams Company will post 9.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 20th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.74%. The ex-dividend date was Thursday, August 19th. The Sherwin-Williams’s dividend payout ratio (DPR) is presently 26.86%.
A number of brokerages recently weighed in on SHW. KeyCorp lifted their target price on shares of The Sherwin-Williams from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, August 2nd. Bank of America upgraded shares of The Sherwin-Williams from an “underperform” rating to a “buy” rating and raised their price target for the stock from $222.00 to $325.00 in a report on Thursday, June 10th. Citigroup cut shares of The Sherwin-Williams from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $331.00 to $309.00 in a report on Thursday, September 9th. Morgan Stanley raised their price target on shares of The Sherwin-Williams from $315.00 to $345.00 and gave the stock an “overweight” rating in a report on Friday, August 20th. Finally, Barclays raised their price target on shares of The Sherwin-Williams from $299.00 to $305.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 28th. Four equities research 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.com, the stock presently has an average rating of “Buy” and a consensus target price of $331.75.
The Sherwin-Williams 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.
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