Brendel Financial Advisors LLC lifted its stake in shares of Sherwin-Williams Co (NYSE:SHW) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,419 shares of the specialty chemicals company’s stock after acquiring an additional 288 shares during the quarter. Sherwin-Williams makes up approximately 7.7% of Brendel Financial Advisors LLC’s holdings, making the stock its biggest position. Brendel Financial Advisors LLC’s holdings in Sherwin-Williams were worth $8,910,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp raised its stake in Sherwin-Williams by 1.4% during the 1st quarter. Fiera Capital Corp now owns 1,624,120 shares of the specialty chemicals company’s stock valued at $746,314,000 after purchasing an additional 22,437 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Sherwin-Williams by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,458,755 shares of the specialty chemicals company’s stock worth $670,328,000 after acquiring an additional 248,727 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Sherwin-Williams by 4.3% during the 1st quarter. Janus Henderson Group PLC now owns 950,853 shares of the specialty chemicals company’s stock valued at $436,955,000 after acquiring an additional 39,096 shares during the last quarter. Morgan Stanley grew its holdings in shares of Sherwin-Williams by 46.8% in the first quarter. Morgan Stanley now owns 870,538 shares of the specialty chemicals company’s stock valued at $400,031,000 after purchasing an additional 277,410 shares in the last quarter. Finally, Capital Research Global Investors increased its position in Sherwin-Williams by 70.7% in the first quarter. Capital Research Global Investors now owns 869,620 shares of the specialty chemicals company’s stock worth $399,608,000 after purchasing an additional 360,086 shares during the last quarter. Institutional investors own 76.25% of the company’s stock.
In other Sherwin-Williams news, insider Aaron M. Erter sold 935 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $534.70, for a total transaction of $499,944.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David B. Sewell sold 5,752 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $571.13, for a total value of $3,285,139.76. Following the completion of the transaction, the chief operating officer now owns 14,100 shares in the company, valued at approximately $8,052,933. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,481 shares of company stock worth $11,529,647. Company insiders own 0.55% of the company’s stock.
Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 28th. The specialty chemicals company reported $7.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.69 by $1.41. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.55 billion. Sherwin-Williams had a return on equity of 53.67% and a net margin of 9.83%. The business’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $6.57 EPS. As a group, equities research analysts forecast that Sherwin-Williams Co will post 22.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, August 20th. Sherwin-Williams’s payout ratio is 25.38%.
A number of research analysts recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of Sherwin-Williams in a report on Thursday, April 30th. Deutsche Bank raised their target price on shares of Sherwin-Williams from $675.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday. Credit Suisse Group increased their price target on Sherwin-Williams from $625.00 to $734.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group lifted their target price on Sherwin-Williams from $480.00 to $520.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Finally, Royal Bank of Canada upped their price target on shares of Sherwin-Williams from $655.00 to $700.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $641.95.
Sherwin-Williams Company Profile
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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