Sherwin-Williams Co (SHW) Position Decreased by Granite Investment Partners LLC
Granite Investment Partners LLC reduced its position in shares of Sherwin-Williams Co (NYSE:SHW) by 12.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,677 shares of the specialty chemicals company’s stock after selling 2,159 shares during the period. Granite Investment Partners LLC’s holdings in Sherwin-Williams were worth $5,151,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Quadrature Capital Ltd bought a new stake in shares of Sherwin-Williams during the fourth quarter worth approximately $218,000. Macquarie Group Ltd. boosted its stake in shares of Sherwin-Williams by 97.7% in the fourth quarter. Macquarie Group Ltd. now owns 27,861 shares of the specialty chemicals company’s stock worth $7,487,000 after buying an additional 13,767 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Sherwin-Williams by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 24,536 shares of the specialty chemicals company’s stock worth $7,610,000 after buying an additional 330 shares during the period. National Pension Service boosted its stake in shares of Sherwin-Williams by 7.8% in the first quarter. National Pension Service now owns 65,490 shares of the specialty chemicals company’s stock worth $20,316,000 after buying an additional 4,736 shares during the period. Finally, Carroll Financial Associates Inc. boosted its stake in shares of Sherwin-Williams by 28.7% in the first quarter. Carroll Financial Associates Inc. now owns 641 shares of the specialty chemicals company’s stock worth $198,000 after buying an additional 143 shares during the period. 72.92% of the stock is owned by institutional investors.
Shares of Sherwin-Williams Co (NYSE SHW) opened at 332.04 on Friday. Sherwin-Williams Co has a 12-month low of $239.48 and a 12-month high of $362.57. The firm has a market cap of $30.83 billion, a P/E ratio of 27.37 and a beta of 1.23. The stock has a 50 day moving average price of $348.87 and a 200 day moving average price of $327.97.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.54 by $0.02. Sherwin-Williams had a return on equity of 64.92% and a net margin of 9.65%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company posted $4.06 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts expect that Sherwin-Williams Co will post $15.00 earnings per share 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 issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $3.40 annualized dividend and a yield of 1.02%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 28.05%.
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A number of analysts have recently commented on SHW shares. Credit Suisse Group set a $344.00 price target on Sherwin-Williams and gave the company a “buy” rating in a research note on Thursday, April 20th. Barclays PLC upped their price target on Sherwin-Williams from $310.00 to $335.00 and gave the company an “equal weight” rating in a research note on Monday, April 24th. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price target for the company in a research note on Thursday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $375.00 price target (up from $335.00) on shares of Sherwin-Williams in a research note on Wednesday, May 17th. Finally, Jefferies Group LLC started coverage on Sherwin-Williams in a research note on Friday, May 26th. They issued a “hold” rating and a $364.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $360.10.
In related news, insider Joel D. Baxter sold 5,470 shares of the company’s stock in a transaction on Monday, May 15th. The stock was 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 in the company, valued at $2,859,466.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.69% of the company’s stock.
Sherwin-Williams Company Profile
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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