Sumitomo Mitsui Trust Holdings Inc. Purchases 28,518 Shares of Sherwin-Williams Co (SHW)
Sumitomo Mitsui Trust Holdings Inc. lifted its position in Sherwin-Williams Co (NYSE:SHW) by 8.9% in the first quarter, HoldingsChannel reports. The firm owned 348,745 shares of the specialty chemicals company’s stock after acquiring an additional 28,518 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Sherwin-Williams were worth $150,208,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of SHW. Norges Bank acquired a new position in shares of Sherwin-Williams in the fourth quarter valued at $297,669,000. American Century Companies Inc. raised its stake in shares of Sherwin-Williams by 49.8% in the fourth quarter. American Century Companies Inc. now owns 683,947 shares of the specialty chemicals company’s stock valued at $269,106,000 after purchasing an additional 227,363 shares in the last quarter. Marsico Capital Management LLC raised its stake in shares of Sherwin-Williams by 129.9% in the fourth quarter. Marsico Capital Management LLC now owns 374,029 shares of the specialty chemicals company’s stock valued at $147,165,000 after purchasing an additional 211,318 shares in the last quarter. Millennium Management LLC raised its stake in shares of Sherwin-Williams by 76.4% in the fourth quarter. Millennium Management LLC now owns 476,111 shares of the specialty chemicals company’s stock valued at $187,331,000 after purchasing an additional 206,266 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Sherwin-Williams by 29.7% in the fourth quarter. Mackenzie Financial Corp now owns 571,420 shares of the specialty chemicals company’s stock valued at $224,831,000 after purchasing an additional 130,737 shares in the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.
A number of brokerages recently commented on SHW. Argus upped their target price on Sherwin-Williams from $480.00 to $527.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wolfe Research lowered Sherwin-Williams from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 25th. UBS Group increased their price objective on Sherwin-Williams from $448.00 to $460.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird increased their price objective on Sherwin-Williams from $480.00 to $525.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank increased their price objective on Sherwin-Williams from $460.00 to $490.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $480.05.
Sherwin-Williams stock traded up $8.37 during mid-day trading on Tuesday, hitting $432.88. The stock had a trading volume of 5,300 shares, compared to its average volume of 639,940. The stock has a market cap of $40.22 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.80 and a beta of 1.26. Sherwin-Williams Co has a 12 month low of $355.28 and a 12 month high of $479.64. The company has a quick ratio of 0.56, a current ratio of 0.96 and a debt-to-equity ratio of 2.52.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.03). The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.09 billion. Sherwin-Williams had a net margin of 6.27% and a return on equity of 47.09%. Sherwin-Williams’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.57 EPS. As a group, sell-side analysts expect that Sherwin-Williams Co will post 21.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is 24.39%.
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Sherwin-Williams Company Profile
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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