Connable Office Inc. Purchases New Holdings in The Sherwin-Williams Company (NYSE:SHW)

Connable Office Inc. acquired a new position in shares of The Sherwin-Williams Company (NYSE:SHW) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,003 shares of the specialty chemicals company’s stock, valued at approximately $2,096,000.

Several other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Sherwin-Williams by 73.6% during the fourth quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company’s stock valued at $525,000 after buying an additional 655 shares during the period. World Investment Advisors increased its stake in Sherwin-Williams by 71.6% in the 4th quarter. World Investment Advisors now owns 1,656 shares of the specialty chemicals company’s stock valued at $563,000 after buying an additional 691 shares during the period. Arete Wealth Advisors LLC acquired a new position in Sherwin-Williams in the 4th quarter valued at approximately $473,000. Resona Asset Management Co. Ltd. purchased a new stake in Sherwin-Williams in the 4th quarter worth approximately $25,636,000. Finally, Aviva PLC boosted its stake in shares of Sherwin-Williams by 100.4% during the 4th quarter. Aviva PLC now owns 166,766 shares of the specialty chemicals company’s stock valued at $56,689,000 after buying an additional 83,539 shares during the period. 77.67% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $344.04 on Monday. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $400.42. The company has a market cap of $85.78 billion, a P/E ratio of 34.13, a P/E/G ratio of 3.25 and a beta of 1.16. The business’s 50 day moving average is $346.15 and its two-hundred day moving average is $348.05. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.38). The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $3.70 EPS. On average, equities analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. Sherwin-Williams’s dividend payout ratio (DPR) is 31.35%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. UBS Group reduced their price target on Sherwin-Williams from $410.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Loop Capital decreased their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. BMO Capital Markets reduced their price objective on shares of Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Sherwin-Williams from $390.00 to $378.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $383.33.

Sherwin-Williams Company 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.