Dockside LLC bought a new position in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 6,842 shares of the specialty chemicals company’s stock, valued at approximately $2,217,000.
Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Sherwin-Williams during the fourth quarter worth about $1,089,450,000. Viking Global Investors LP increased its position in Sherwin-Williams by 101.4% during the second quarter. Viking Global Investors LP now owns 1,957,750 shares of the specialty chemicals company’s stock worth $672,213,000 after acquiring an additional 985,520 shares during the period. Vanguard Group Inc. increased its position in Sherwin-Williams by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company’s stock worth $7,529,752,000 after acquiring an additional 600,119 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sherwin-Williams by 34.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,023,949 shares of the specialty chemicals company’s stock worth $655,820,000 after acquiring an additional 513,126 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Sherwin-Williams by 88.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 994,583 shares of the specialty chemicals company’s stock worth $322,275,000 after acquiring an additional 466,747 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.
Sherwin-Williams Trading Up 0.1%
Shares of Sherwin-Williams stock opened at $317.25 on Friday. The Sherwin-Williams Company has a 1 year low of $289.86 and a 1 year high of $379.65. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $78.24 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 2.74 and a beta of 1.12. The firm’s 50 day moving average is $317.14 and its 200 day moving average is $332.10.
Sherwin-Williams Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 22nd. Sherwin-Williams’s payout ratio is presently 30.71%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on SHW shares. Wells Fargo & Company lowered their price target on shares of Sherwin-Williams from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Zacks Research raised shares of Sherwin-Williams from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Mizuho lowered their price objective on shares of Sherwin-Williams from $410.00 to $371.00 and set an “outperform” rating for the company in a research report on Monday, March 23rd. BMO Capital Markets set a $355.00 target price on Sherwin-Williams and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Bank of America cut their target price on Sherwin-Williams from $370.00 to $365.00 and set a “neutral” rating for the company in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $366.77.
View Our Latest Research Report on SHW
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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