Kinetic Partners Management LP purchased a new stake in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,073 shares of the specialty chemicals company’s stock, valued at approximately $7,256,000.
Other institutional investors have also made changes to their positions in the company. Bristol Gate Capital Partners Inc. acquired a new position in Sherwin-Williams during the 2nd quarter valued at $261,000. ABS Investment Management LLC acquired a new stake in Sherwin-Williams in the 2nd quarter worth $316,774,000. Hsbc Holdings PLC bought a new position in shares of Sherwin-Williams during the 2nd quarter worth about $291,255,000. EFG International AG acquired a new position in shares of Sherwin-Williams during the second quarter valued at about $31,000. Finally, Palisade Capital Management LP acquired a new position in shares of Sherwin-Williams during the second quarter valued at about $4,125,000. 77.67% of the stock is currently owned by institutional investors.
Sherwin-Williams Stock Up 1.0%
Shares of NYSE:SHW opened at $350.27 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.73 and a debt-to-equity ratio of 2.16. The firm has a market cap of $85.03 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.58 and a beta of 1.10. The Sherwin-Williams Company has a 12 month low of $289.86 and a 12 month high of $377.77. The company’s 50-day moving average price is $341.24 and its two-hundred day moving average price is $332.43.
Sherwin-Williams Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.9%. Sherwin-Williams’s dividend payout ratio is 29.49%.
Insider Buying and Selling
In other news, insider Justin T. Binns sold 13,500 shares of Sherwin-Williams stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the transaction, the insider owned 21,937 shares in the company, valued at $7,737,179.90. The trade was a 38.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karl J. Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the transaction, the insider directly owned 11,944 shares in the company, valued at approximately $4,398,975.20. The trade was a 39.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.
Wall Street Analyst Weigh In
SHW has been the subject of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $405.00 price objective (up from $391.00) on shares of Sherwin-Williams in a research report on Wednesday, July 8th. DA Davidson set a $400.00 price objective on Sherwin-Williams and gave the company a “buy” rating in a research report on Monday. Evercore restated an “outperform” rating on shares of Sherwin-Williams in a research note on Friday, May 8th. UBS Group reaffirmed a “neutral” rating and issued a $390.00 target price on shares of Sherwin-Williams in a research report on Wednesday, July 29th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $405.00 price target (up from $400.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus price target of $386.29.
View Our Latest Stock Analysis on Sherwin-Williams
Sherwin-Williams Profile
Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.
The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.
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