TRB Wealth Management LLC acquired a new position in The Sherwin-Williams Company (NYSE:SHW – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,883 shares of the specialty chemicals company’s stock, valued at approximately $648,000.
Several other institutional investors and hedge funds have also recently modified their holdings of SHW. Sumitomo Life Insurance Co. bought a new stake in shares of Sherwin-Williams during the 2nd quarter valued at about $1,112,000. Landscape Capital Management L.L.C. bought a new position in Sherwin-Williams in the second quarter worth about $5,522,000. Korea Investment CORP bought a new position in Sherwin-Williams in the second quarter worth about $78,193,000. EP Wealth Advisors LLC purchased a new stake in Sherwin-Williams in the second quarter worth about $2,704,000. Finally, Heartland Bank & Trust Co bought a new stake in Sherwin-Williams during the 2nd quarter valued at approximately $432,000. 77.67% of the stock is owned by hedge funds and other institutional investors.
Sherwin-Williams Price Performance
SHW stock opened at $347.02 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.46 and a current ratio of 0.73. The firm has a 50 day moving average price of $340.16 and a 200-day moving average price of $332.81. The Sherwin-Williams Company has a 52-week low of $289.86 and a 52-week high of $379.65. The firm has a market capitalization of $84.24 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 2.58 and a beta of 1.10.
Sherwin-Williams Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Sherwin-Williams’s payout ratio is 29.49%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SHW. Citigroup reiterated a “buy” rating on shares of Sherwin-Williams in a report on Wednesday, July 29th. Morgan Stanley restated an “overweight” rating and set a $395.00 price target (up from $385.00) on shares of Sherwin-Williams in a research report on Wednesday, July 29th. Wells Fargo & Company set a $360.00 price target on Sherwin-Williams and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $405.00 price objective (up from $400.00) on shares of Sherwin-Williams in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group set a $420.00 price objective on Sherwin-Williams in a research report on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Sherwin-Williams currently has an average rating of “Moderate Buy” and an average price target of $385.44.
Check Out Our Latest Analysis on SHW
Insiders Place Their Bets
In other news, insider Justin T. Binns sold 13,500 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $352.70, for a total value of $4,761,450.00. Following the sale, the insider directly owned 21,937 shares of the company’s stock, valued at approximately $7,737,179.90. This represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karl J. Jorgenrud sold 7,886 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $368.30, for a total value of $2,904,413.80. Following the transaction, the insider owned 11,944 shares of the company’s stock, valued at $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.
Sherwin-Williams Company 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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