Sherwin-Williams Co (NYSE:SHW) Position Boosted by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. increased its position in shares of Sherwin-Williams Co (NYSE:SHW) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 71,350 shares of the specialty chemicals company’s stock after buying an additional 490 shares during the period. Pictet Asset Management Ltd.’s holdings in Sherwin-Williams were worth $23,672,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in SHW. BlackRock Inc. boosted its stake in shares of Sherwin-Williams by 1,591.2% in the first quarter. BlackRock Inc. now owns 5,267,993 shares of the specialty chemicals company’s stock worth $1,634,079,000 after buying an additional 4,956,505 shares in the last quarter. Jana Partners LLC bought a new stake in shares of Sherwin-Williams during the first quarter worth $203,163,000. Renaissance Technologies LLC boosted its stake in shares of Sherwin-Williams by 195.1% in the first quarter. Renaissance Technologies LLC now owns 961,900 shares of the specialty chemicals company’s stock worth $298,372,000 after buying an additional 635,900 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Sherwin-Williams by 6.2% in the first quarter. Vanguard Group Inc. now owns 6,276,033 shares of the specialty chemicals company’s stock worth $1,946,763,000 after buying an additional 365,675 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Sherwin-Williams by 272.8% in the first quarter. Prudential Financial Inc. now owns 467,216 shares of the specialty chemicals company’s stock worth $144,926,000 after buying an additional 341,880 shares in the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.
Sherwin-Williams Co (NYSE SHW) opened at 332.04 on Friday. The stock has a market cap 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. The company has a 50-day moving average of $348.87 and a 200-day moving average of $327.97.
Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.54 by $0.02. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. Sherwin-Williams had a return on equity of 64.92% and a net margin of 9.65%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $4.06 EPS. On average, analysts predict that Sherwin-Williams Co will post $15.00 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 28.05%.
SHW has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price target for the company in a research report on Thursday, April 27th. Morgan Stanley reiterated an “overweight” rating and set a $375.00 price target (up from $335.00) on shares of Sherwin-Williams in a research report on Wednesday, May 17th. Barclays PLC lifted their price target on shares of Sherwin-Williams from $310.00 to $335.00 and gave the company an “equal weight” rating in a research report on Monday, April 24th. Jefferies Group LLC initiated coverage on shares of Sherwin-Williams in a research report on Friday, May 26th. They set a “hold” rating and a $364.00 price target for the company. Finally, Northcoast Research reiterated a “buy” rating on shares of Sherwin-Williams in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $360.10.
In related news, insider Joel D. Baxter sold 5,470 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $335.50, for a total transaction of $1,835,185.00. Following the completion of the sale, the insider now owns 8,523 shares of the company’s stock, valued at approximately $2,859,466.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.69% of the stock is currently owned by corporate 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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