Candlestick Capital Management LP Makes New $38.19 Million Investment in The Sherwin-Williams Company $SHW

Candlestick Capital Management LP acquired a new stake in The Sherwin-Williams Company (NYSE:SHW) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 110,292 shares of the specialty chemicals company’s stock, valued at approximately $38,190,000.

Several other hedge funds have also recently modified their holdings of SHW. Modera Wealth Management LLC boosted its stake in shares of Sherwin-Williams by 2.4% in the 3rd quarter. Modera Wealth Management LLC now owns 1,257 shares of the specialty chemicals company’s stock worth $435,000 after buying an additional 29 shares during the last quarter. Richard W. Paul & Associates LLC increased its position in shares of Sherwin-Williams by 1.6% during the second quarter. Richard W. Paul & Associates LLC now owns 1,885 shares of the specialty chemicals company’s stock valued at $647,000 after acquiring an additional 30 shares during the last quarter. 17 Capital Partners LLC lifted its holdings in Sherwin-Williams by 0.9% during the second quarter. 17 Capital Partners LLC now owns 3,340 shares of the specialty chemicals company’s stock worth $1,147,000 after acquiring an additional 31 shares during the period. Alpine Bank Wealth Management lifted its holdings in Sherwin-Williams by 4.1% during the third quarter. Alpine Bank Wealth Management now owns 781 shares of the specialty chemicals company’s stock worth $270,000 after acquiring an additional 31 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Sherwin-Williams by 1.9% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,680 shares of the specialty chemicals company’s stock worth $577,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Mizuho upped their price objective on Sherwin-Williams from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sherwin-Williams in a report on Monday, December 29th. Zacks Research lowered shares of Sherwin-Williams from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Royal Bank Of Canada set a $390.00 price objective on shares of Sherwin-Williams and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, Vertical Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price objective on the stock in a research report on Wednesday, January 7th. Eleven 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $388.21.

Insider Activity at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,976 shares of Sherwin-Williams stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $359.50, for a total value of $1,069,872.00. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bryan J. Young sold 2,513 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total transaction of $915,913.11. Following the sale, the senior vice president directly owned 10,045 shares in the company, valued at $3,661,101.15. The trade was a 20.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Stock Up 0.6%

Shares of NYSE SHW opened at $319.62 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.53. The stock has a market capitalization 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 one year low of $308.84 and a one year high of $379.65. The business’s fifty day moving average price is $352.08 and its 200-day moving average price is $344.38.

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

Sherwin-Williams Increases Dividend

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

Sherwin-Williams Company 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.