The Manufacturers Life Insurance Company purchased a new stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 116,784 shares of the specialty chemicals company’s stock, valued at approximately $40,211,000.
Several other large investors also recently added to or reduced their stakes in the stock. Sapient Capital LLC boosted its stake in shares of Sherwin-Williams by 0.3% during the 4th quarter. Sapient Capital LLC now owns 9,176 shares of the specialty chemicals company’s stock worth $2,993,000 after purchasing an additional 30 shares during the period. Eastern Bank increased its position in shares of Sherwin-Williams by 50.8% during the second quarter. Eastern Bank now owns 89 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 30 shares during the period. Deseret Mutual Benefit Administrators raised its position in Sherwin-Williams by 6.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 527 shares of the specialty chemicals company’s stock valued at $171,000 after purchasing an additional 31 shares in the last quarter. Heartland Bank & Trust Co raised its holdings in shares of Sherwin-Williams by 2.8% in the first quarter. Heartland Bank & Trust Co now owns 1,174 shares of the specialty chemicals company’s stock valued at $376,000 after acquiring an additional 32 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its position in shares of Sherwin-Williams by 1.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 1,789 shares of the specialty chemicals company’s stock worth $580,000 after purchasing an additional 33 shares during the period. 77.67% of the stock is owned by institutional investors.
Sherwin-Williams Price Performance
Shares of NYSE SHW opened at $348.57 on Thursday. 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 fifty day moving average of $341.95 and a 200 day moving average of $332.34. The firm has a market cap of $84.62 billion, a PE ratio of 32.13, a PEG ratio of 2.61 and a beta of 1.10. The Sherwin-Williams Company has a one year low of $289.86 and a one year high of $377.77.
Sherwin-Williams Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid 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 dividend payout ratio is currently 29.49%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on SHW. Citigroup restated a “buy” rating on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and set a $405.00 price objective (up from $391.00) on shares of Sherwin-Williams in a research note on Wednesday, July 8th. Weiss Ratings upgraded Sherwin-Williams from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Sherwin-Williams from $365.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, UBS Group restated a “neutral” rating and set a $390.00 price target on shares of Sherwin-Williams in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $386.29.
View Our Latest Report on Sherwin-Williams
Insider Buying and Selling at Sherwin-Williams
In related news, insider Karl J. Jorgenrud sold 7,886 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $368.30, for a total value of $2,904,413.80. Following the completion of the sale, the insider owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. This trade represents a 39.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin T. Binns sold 13,500 shares of the business’s 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 transaction, the insider directly owned 21,937 shares in the company, valued at $7,737,179.90. This trade represents a 38.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.23% of the company’s stock.
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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