DoubleLine ETF Adviser LP Takes Position in The Sherwin-Williams Company (NYSE:SHW)

DoubleLine ETF Adviser LP bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,144 shares of the specialty chemicals company’s stock, valued at approximately $6,168,000. Sherwin-Williams comprises approximately 1.7% of DoubleLine ETF Adviser LP’s portfolio, making the stock its 11th biggest position.

Several other large investors have also made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth $26,000. Lee Danner & Bass Inc. bought a new position in Sherwin-Williams during the fourth quarter worth about $28,000. Sierra Ocean LLC acquired a new position in shares of Sherwin-Williams during the 4th quarter worth about $36,000. WR Wealth Planners LLC increased its stake in shares of Sherwin-Williams by 41.7% in the 4th quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 35 shares during the last quarter. Finally, AlphaMark Advisors LLC acquired a new stake in shares of Sherwin-Williams in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on SHW shares. Berenberg Bank raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and upped their target price for the company from $321.00 to $420.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Zelman & Associates upgraded Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Royal Bank of Canada boosted their target price on Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Citigroup dropped their price target on Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $397.00.

Sherwin-Williams Price Performance

Shares of SHW opened at $353.46 on Friday. The company has a market cap of $88.90 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.98 and a beta of 1.26. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The company’s fifty day simple moving average is $342.09 and its 200 day simple moving average is $356.52. The Sherwin-Williams Company has a 1-year low of $282.09 and a 1-year high of $400.42.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the firm earned $2.17 EPS. Sherwin-Williams’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $3.16 annualized dividend and a dividend yield of 0.89%. Sherwin-Williams’s dividend payout ratio is currently 29.95%.

Insider Buying and Selling

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the transaction, the insider now directly owns 5,365 shares in the company, valued at $1,933,009.50. The trade was a 34.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Sherwin-Williams Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.