Sherwin-Williams Co (SHW) Holdings Boosted by Pennsylvania Trust Co
Pennsylvania Trust Co boosted its holdings in shares of Sherwin-Williams Co (NYSE:SHW) by 122.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,225 shares of the specialty chemicals company’s stock after purchasing an additional 3,982 shares during the quarter. Pennsylvania Trust Co’s holdings in Sherwin-Williams were worth $446,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of SHW. Standard Life Aberdeen plc lifted its position in Sherwin-Williams by 11.2% during the third quarter. Standard Life Aberdeen plc now owns 25,328 shares of the specialty chemicals company’s stock valued at $11,529,000 after buying an additional 2,552 shares during the period. Vident Investment Advisory LLC purchased a new position in Sherwin-Williams during the third quarter valued at $457,000. Macquarie Group Ltd. lifted its position in Sherwin-Williams by 6.8% during the third quarter. Macquarie Group Ltd. now owns 18,912 shares of the specialty chemicals company’s stock valued at $8,609,000 after buying an additional 1,207 shares during the period. AQR Capital Management LLC lifted its position in Sherwin-Williams by 2.4% during the third quarter. AQR Capital Management LLC now owns 48,313 shares of the specialty chemicals company’s stock valued at $21,993,000 after buying an additional 1,114 shares during the period. Finally, Kentucky Retirement Systems bought a new position in shares of Sherwin-Williams during the third quarter valued at $1,305,000. Institutional investors own 77.70% of the company’s stock.
In other news, insider Joel D. Baxter sold 7,621 shares of Sherwin-Williams stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $439.15, for a total transaction of $3,346,762.15. Following the transaction, the insider now directly owns 10,308 shares of the company’s stock, valued at approximately $4,526,758.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jane M. Cronin sold 1,344 shares of Sherwin-Williams stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $441.24, for a total value of $593,026.56. Following the transaction, the senior vice president now directly owns 4,078 shares in the company, valued at $1,799,376.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,839 shares of company stock valued at $5,186,817. Corporate insiders own 0.50% of the company’s stock.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 31st. The specialty chemicals company reported $3.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.56 by ($0.02). The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.05 billion. Sherwin-Williams had a net margin of 6.32% and a return on equity of 46.48%. During the same quarter in the prior year, the firm earned $3.16 earnings per share. On average, sell-side analysts expect that Sherwin-Williams Co will post 21.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.00%. Sherwin-Williams’s dividend payout ratio is currently 24.39%.
Several brokerages have recently weighed in on SHW. Robert W. Baird restated an “outperform” rating and set a $480.00 price target (up from $450.00) on shares of Sherwin-Williams in a report on Friday, February 1st. Evercore ISI began coverage on Sherwin-Williams in a report on Wednesday, March 20th. They set an “outperform” rating and a $495.00 price target for the company. UBS Group set a $405.00 price target on Sherwin-Williams and gave the company a “hold” rating in a report on Wednesday, January 16th. KeyCorp raised their price target on Sherwin-Williams from $450.00 to $485.00 and gave the company an “overweight” rating in a report on Friday, February 22nd. Finally, Zacks Investment Research downgraded Sherwin-Williams from a “hold” rating to a “sell” rating in a report on Monday, February 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Sherwin-Williams has a consensus rating of “Buy” and a consensus price target of $466.43.
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.
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