MML Investors Services LLC increased its position in shares of Sherwin-Williams Co (NYSE:SHW) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,271 shares of the specialty chemicals company’s stock after purchasing an additional 255 shares during the period. MML Investors Services LLC’s holdings in Sherwin-Williams were worth $4,249,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in SHW. Krane Funds Advisors LLC acquired a new stake in shares of Sherwin-Williams during the second quarter valued at about $25,000. Tortoise Investment Management LLC grew its holdings 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 valued at $26,000 after purchasing an additional 40 shares in the last quarter. Thor Advisors LLC acquired a new position in shares of Sherwin-Williams in the first quarter valued at approximately $25,000. Hexavest Inc. acquired a new position in shares of Sherwin-Williams in the second quarter valued at approximately $27,000. Finally, Next Capital Management LLC acquired a new position in shares of Sherwin-Williams in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 76.76% of the company’s stock.
A number of brokerages recently weighed in on SHW. Northcoast Research restated a “neutral” rating on shares of Sherwin-Williams in a report on Monday, July 29th. BMO Capital Markets lifted their price objective on shares of Sherwin-Williams from $517.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, September 4th. Barclays lifted their price objective on shares of Sherwin-Williams from $470.00 to $505.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on shares of Sherwin-Williams to $550.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Sherwin-Williams from $430.00 to $546.00 and gave the company a “hold” rating in a report on Friday, September 6th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $525.40.
Sherwin-Williams stock traded up $1.14 during trading on Friday, reaching $540.09. The stock had a trading volume of 14,478 shares, compared to its average volume of 406,886. Sherwin-Williams Co has a 52-week low of $355.28 and a 52-week high of $548.98. The business has a 50 day moving average price of $519.37 and a 200 day moving average price of $464.42. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29. The stock has a market cap of $49.98 billion, a PE ratio of 29.13, a P/E/G ratio of 2.05 and a beta of 1.26.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.22. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the previous year, the firm earned $5.73 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts predict that Sherwin-Williams Co will post 21.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $1.13 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.52 dividend on an annualized basis and a yield of 0.84%. Sherwin-Williams’s dividend payout ratio is currently 24.39%.
In other news, Director David F. Hodnik sold 501 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $521.57, for a total transaction of $261,306.57. Following the completion of the sale, the director now owns 9,569 shares in the company, valued at approximately $4,990,903.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David B. Sewell sold 4,709 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $493.52, for a total transaction of $2,323,985.68. Following the sale, the insider now owns 12,604 shares of the company’s stock, valued at approximately $6,220,326.08. The disclosure for this sale can be found here. Insiders sold 12,121 shares of company stock valued at $6,134,153 in the last quarter. 0.50% of the stock is owned by insiders.
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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