First Mercantile Trust Co. raised its position in Sherwin-Williams Co (NYSE:SHW) by 4.4% in the 1st quarter, HoldingsChannel reports. The fund owned 1,015 shares of the specialty chemicals company’s stock after acquiring an additional 43 shares during the quarter. First Mercantile Trust Co.’s holdings in Sherwin-Williams were worth $437,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SHW. Norges Bank acquired a new stake in Sherwin-Williams in the fourth quarter valued at approximately $297,669,000. American Century Companies Inc. lifted its stake in shares of Sherwin-Williams by 49.8% during the fourth quarter. American Century Companies Inc. now owns 683,947 shares of the specialty chemicals company’s stock worth $269,106,000 after buying an additional 227,363 shares during the period. Marsico Capital Management LLC lifted its stake in shares of Sherwin-Williams by 129.9% during the fourth quarter. Marsico Capital Management LLC now owns 374,029 shares of the specialty chemicals company’s stock worth $147,165,000 after buying an additional 211,318 shares during the period. Millennium Management LLC lifted its stake in shares of Sherwin-Williams by 76.4% during the fourth quarter. Millennium Management LLC now owns 476,111 shares of the specialty chemicals company’s stock worth $187,331,000 after buying an additional 206,266 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Sherwin-Williams by 29.7% during the fourth quarter. Mackenzie Financial Corp now owns 571,420 shares of the specialty chemicals company’s stock worth $224,831,000 after buying an additional 130,737 shares during the period. Institutional investors own 77.56% of the company’s stock.
Several equities research analysts have recently commented on SHW shares. KeyCorp lowered their price objective on shares of Sherwin-Williams from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Wednesday, January 16th. Zacks Investment Research downgraded shares of Sherwin-Williams from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 17th. Barclays lifted their price objective on shares of Sherwin-Williams from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Deutsche Bank lowered their price objective on shares of Sherwin-Williams from $465.00 to $445.00 and set a “buy” rating for the company in a research note on Wednesday, January 16th. Finally, UBS Group lifted their price objective on shares of Sherwin-Williams from $448.00 to $460.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $480.05.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.03). Sherwin-Williams had a net margin of 6.27% and a return on equity of 47.09%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the firm posted $3.57 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that Sherwin-Williams Co will post 21.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.04%. Sherwin-Williams’s dividend payout ratio is currently 24.39%.
In other news, insider Joel D. Baxter sold 7,621 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $439.15, for a total transaction of $3,346,762.15. Following the completion of the sale, the insider now owns 10,308 shares of the company’s stock, valued at $4,526,758.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert F. Lynch sold 6,984 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $430.54, for a total transaction of $3,006,891.36. Following the sale, the insider now directly owns 13,855 shares of the company’s stock, valued at approximately $5,965,131.70. The disclosure for this sale can be found here. Insiders have sold 15,949 shares of company stock valued at $6,946,680 in the last three months. Corporate insiders own 0.50% of the company’s stock.
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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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