Summit Global Investments Takes Position in The Sherwin-Williams Company (NYSE:SHW)

Summit Global Investments acquired a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 938 shares of the specialty chemicals company’s stock, valued at approximately $293,000.

Other hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Sherwin-Williams by 16.2% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,568 shares of the specialty chemicals company’s stock valued at $12,132,000 after acquiring an additional 6,639 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Sherwin-Williams during the fourth quarter valued at about $38,444,000. Machina Capital S.A.S. boosted its position in shares of Sherwin-Williams by 149.0% during the 3rd quarter. Machina Capital S.A.S. now owns 9,695 shares of the specialty chemicals company’s stock worth $2,473,000 after purchasing an additional 5,801 shares in the last quarter. AIA Group Ltd grew its stake in shares of Sherwin-Williams by 20.8% in the 4th quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock valued at $5,088,000 after buying an additional 2,810 shares during the period. Finally, Pearl River Capital LLC bought a new stake in Sherwin-Williams in the 3rd quarter valued at about $4,517,000. Institutional investors own 77.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SHW shares. Loop Capital cut their price target on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. StockNews.com lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Wells Fargo & Company raised their price objective on shares of Sherwin-Williams from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. KeyCorp raised shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 target price for the company in a research report on Thursday, April 25th. Finally, Mizuho dropped their price target on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and an average price target of $341.39.

Insider Buying and Selling at Sherwin-Williams

In other news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $322.66, for a total value of $7,588,317.88. Following the sale, the senior vice president now owns 28,475 shares of the company’s stock, valued at $9,187,743.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mary L. Garceau sold 23,518 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $322.66, for a total value of $7,588,317.88. Following the sale, the senior vice president now owns 28,475 shares in the company, valued at $9,187,743.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock valued at $10,340,237 over the last three months. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Price Performance

SHW opened at $314.93 on Tuesday. The firm has a market cap of $79.85 billion, a P/E ratio of 33.57, a PEG ratio of 2.50 and a beta of 1.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.46 and a current ratio of 0.78. The Sherwin-Williams Company has a fifty-two week low of $221.76 and a fifty-two week high of $348.37. The firm has a 50-day moving average of $326.85 and a 200 day moving average of $302.34.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. Sherwin-Williams’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company posted $2.04 earnings per share. On average, research analysts expect that The Sherwin-Williams Company will post 11.43 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Sherwin-Williams Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.