Cartenna Capital LP Makes New Investment in The Sherwin-Williams Company $SHW

Cartenna Capital LP bought a new position in The Sherwin-Williams Company (NYSE:SHW) in the 3rd quarter, HoldingsChannel reports. The fund bought 185,000 shares of the specialty chemicals company’s stock, valued at approximately $64,058,000. Sherwin-Williams comprises approximately 1.8% of Cartenna Capital LP’s portfolio, making the stock its 18th largest holding.

A number of other institutional investors have also made changes to their positions in SHW. MTM Investment Management LLC bought a new stake in Sherwin-Williams during the second quarter valued at $26,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Sherwin-Williams by 104.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 44 shares during the period. Rossby Financial LCC lifted its position in shares of Sherwin-Williams by 96.0% in the 3rd quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in shares of Sherwin-Williams in the 2nd quarter valued at about $36,000. Finally, True Wealth Design LLC boosted its holdings in shares of Sherwin-Williams by 129.8% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 61 shares during the period. 77.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHW has been the topic of several research reports. Citigroup reiterated a “buy” rating on shares of Sherwin-Williams in a research note on Monday, January 19th. Deutsche Bank Aktiengesellschaft downgraded Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 target price for the company. in a research note on Thursday, January 22nd. Zacks Research lowered Sherwin-Williams from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. UBS Group set a $420.00 price target on Sherwin-Williams in a research report on Friday, January 30th. Finally, Mizuho boosted their price objective on Sherwin-Williams from $400.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.21.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,976 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the completion of the transaction, the insider owned 5,365 shares in the company, valued at approximately $1,928,717.50. The trade was a 35.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bryan J. Young sold 2,513 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total value of $915,913.11. Following the completion of the transaction, the senior vice president directly owned 10,045 shares of the company’s stock, valued at approximately $3,661,101.15. The trade was a 20.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by company insiders.

Sherwin-Williams Trading Up 0.6%

Shares of NYSE:SHW opened at $319.62 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The company’s 50-day moving average price is $352.08 and its 200 day moving average price is $344.38. The company has a market cap of $79.06 billion, a PE ratio of 31.12, a P/E/G ratio of 2.77 and a beta of 1.25. The Sherwin-Williams Company has a fifty-two week low of $308.84 and a fifty-two week high of $379.65.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.16 by $0.07. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. Sherwin-Williams’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were issued a $0.80 dividend. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.0%. Sherwin-Williams’s dividend payout ratio is currently 31.16%.

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.