Keybank National Association OH raised its position in Sherwin-Williams Co (NYSE:SHW) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 183,301 shares of the specialty chemicals company’s stock after acquiring an additional 5,440 shares during the period. Keybank National Association OH owned approximately 0.20% of Sherwin-Williams worth $84,005,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in shares of Sherwin-Williams by 2.2% during the first quarter. Fifth Third Bancorp now owns 97,612 shares of the specialty chemicals company’s stock valued at $42,042,000 after buying an additional 2,103 shares during the last quarter. Capital Innovations LLC purchased a new position in shares of Sherwin-Williams during the first quarter valued at approximately $215,000. First Citizens Bank & Trust Co. boosted its position in shares of Sherwin-Williams by 9.5% during the second quarter. First Citizens Bank & Trust Co. now owns 2,888 shares of the specialty chemicals company’s stock valued at $1,324,000 after buying an additional 251 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Sherwin-Williams by 1.1% during the first quarter. WCM Investment Management LLC now owns 184,217 shares of the specialty chemicals company’s stock valued at $79,345,000 after buying an additional 2,054 shares during the last quarter. Finally, Baxter Bros Inc. boosted its position in shares of Sherwin-Williams by 5.3% during the first quarter. Baxter Bros Inc. now owns 13,006 shares of the specialty chemicals company’s stock valued at $5,602,000 after buying an additional 657 shares during the last quarter. 76.05% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on SHW. JPMorgan Chase & Co. lifted their target price on Sherwin-Williams from $435.00 to $490.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. BMO Capital Markets lifted their target price on Sherwin-Williams to $517.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Argus lifted their target price on Sherwin-Williams from $480.00 to $527.00 and gave the company a “buy” rating in a research report on Friday, April 26th. UBS Group lifted their target price on Sherwin-Williams from $448.00 to $460.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research raised Sherwin-Williams from a “sell” rating to a “hold” rating and set a $526.00 target price on the stock in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Sherwin-Williams currently has an average rating of “Buy” and an average price target of $513.37.
Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.35 by $0.22. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.94 billion. Sherwin-Williams had a return on equity of 48.92% and a net margin of 6.61%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $5.73 earnings per share. As a group, equities research analysts anticipate that Sherwin-Williams Co will post 21.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a $1.13 dividend. The ex-dividend date is Thursday, August 15th. This represents a $4.52 annualized dividend and a dividend yield of 0.87%. Sherwin-Williams’s payout ratio is presently 24.39%.
In other news, Director Jeff M. Fettig bought 500 shares of the stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $432.07 per share, for a total transaction of $216,035.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David B. Sewell sold 4,709 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $493.52, for a total value of $2,323,985.68. Following the completion of the sale, the insider now owns 12,604 shares in the company, valued at $6,220,326.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,608 shares of company stock worth $15,329,391. Corporate insiders own 0.50% of the company’s stock.
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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