Cigna Investments Inc. New Cuts Stake in Sherwin-Williams Co (NYSE:SHW)
Cigna Investments Inc. New lowered its position in Sherwin-Williams Co (NYSE:SHW) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,272 shares of the specialty chemicals company’s stock after selling 119 shares during the period. Cigna Investments Inc. New’s holdings in Sherwin-Williams were worth $1,148,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new stake in Sherwin-Williams during the first quarter worth about $106,000. Barometer Capital Management Inc. acquired a new stake in Sherwin-Williams during the first quarter worth about $124,000. Financial Architects Inc raised its stake in Sherwin-Williams by 218.4% in the first quarter. Financial Architects Inc now owns 433 shares of the specialty chemicals company’s stock worth $134,000 after buying an additional 297 shares during the period. State of Alaska Department of Revenue acquired a new stake in Sherwin-Williams during the first quarter worth about $139,000. Finally, Parallel Advisors LLC raised its stake in Sherwin-Williams by 2.6% in the first quarter. Parallel Advisors LLC now owns 432 shares of the specialty chemicals company’s stock worth $144,000 after buying an additional 11 shares during the period. Institutional investors own 72.92% of the company’s stock.
Sherwin-Williams Co (NYSE:SHW) opened at 332.04 on Friday. The company has a 50 day moving average of $348.87 and a 200-day moving average of $327.97. The stock has a market capitalization of $30.83 billion, a P/E ratio of 27.37 and a beta of 1.23. Sherwin-Williams Co has a 52-week low of $239.48 and a 52-week high of $362.57.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.54 by $0.02. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. Sherwin-Williams had a return on equity of 64.92% and a net margin of 9.65%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.06 EPS. Equities research analysts anticipate that Sherwin-Williams Co will post $15.00 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.02%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 28.05%.
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SHW has been the topic of a number of research reports. Credit Suisse Group set a $344.00 target price on shares of Sherwin-Williams and gave the stock a “buy” rating in a report on Thursday, April 20th. Citigroup Inc. reissued a “buy” rating and issued a $410.00 price objective on shares of Sherwin-Williams in a research report on Friday, June 23rd. Longbow Research raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Sherwin-Williams in a research report on Thursday, June 8th. They issued a “buy” rating and a $403.00 price objective on the stock. Finally, Zacks Investment 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 Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Sherwin-Williams has a consensus rating of “Hold” and an average target price of $360.10.
In related news, insider Joel D. Baxter sold 5,470 shares of Sherwin-Williams stock in a transaction on Monday, May 15th. The shares were sold at an average price of $335.50, for a total value of $1,835,185.00. Following the completion of the sale, the insider now owns 8,523 shares in the company, valued at $2,859,466.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.69% of the stock is currently owned by insiders.
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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