The Sherwin-Williams Company (NYSE:SHW) Shares Acquired by Skye Global Management LP

Skye Global Management LP lifted its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 3,733.3% in the fourth quarter, Holdings Channel reports. The firm owned 80,500 shares of the specialty chemicals company’s stock after buying an additional 78,400 shares during the period. Sherwin-Williams accounts for about 0.6% of Skye Global Management LP’s investment portfolio, making the stock its 26th largest position. Skye Global Management LP’s holdings in Sherwin-Williams were worth $27,364,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Voleon Capital Management LP acquired a new position in shares of Sherwin-Williams during the fourth quarter valued at approximately $2,011,000. Merit Financial Group LLC increased its position in shares of Sherwin-Williams by 80.0% during the fourth quarter. Merit Financial Group LLC now owns 1,177 shares of the specialty chemicals company’s stock worth $400,000 after purchasing an additional 523 shares in the last quarter. Park Avenue Securities LLC raised its stake in Sherwin-Williams by 52.6% in the 4th quarter. Park Avenue Securities LLC now owns 6,680 shares of the specialty chemicals company’s stock valued at $2,271,000 after purchasing an additional 2,303 shares during the last quarter. Kerusso Capital Management LLC lifted its holdings in Sherwin-Williams by 75.9% in the 4th quarter. Kerusso Capital Management LLC now owns 10,290 shares of the specialty chemicals company’s stock valued at $3,498,000 after purchasing an additional 4,439 shares in the last quarter. Finally, Canoe Financial LP boosted its stake in Sherwin-Williams by 542.0% during the 4th quarter. Canoe Financial LP now owns 339,707 shares of the specialty chemicals company’s stock worth $115,477,000 after purchasing an additional 286,791 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Colin M. Davie sold 2,799 shares of Sherwin-Williams stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the sale, the insider now directly owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. The trade was a 34.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SHW shares. Royal Bank of Canada increased their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Citigroup cut their price objective on shares of Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. UBS Group lowered their target price on Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Morgan Stanley dropped their price target on Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $397.00.

Sherwin-Williams Stock Up 2.9%

Shares of NYSE:SHW opened at $361.45 on Friday. The company has a market capitalization of $90.58 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.98 and a beta of 1.25. The Sherwin-Williams Company has a 12-month low of $282.09 and a 12-month high of $400.42. The business has a 50-day moving average price of $341.42 and a 200 day moving average price of $355.21. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.02. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business earned $2.17 earnings per share. Sell-side analysts expect that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $3.16 annualized dividend and a yield of 0.87%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 29.87%.

Sherwin-Williams Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.