Concurrent Investment Advisors LLC lifted its stake in shares of The Sherwin-Williams Company (NYSE:SHW – Free Report) by 36.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,278 shares of the specialty chemicals company’s stock after acquiring an additional 2,723 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Sherwin-Williams were worth $3,570,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of SHW. Vanguard Group Inc. raised its position in Sherwin-Williams by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,435,960 shares of the specialty chemicals company’s stock valued at $6,685,876,000 after purchasing an additional 179,274 shares in the last quarter. Capital World Investors increased its position in Sherwin-Williams by 38.9% during the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after purchasing an additional 1,075,351 shares during the period. Norges Bank bought a new stake in shares of Sherwin-Williams in the 4th quarter valued at about $1,176,356,000. Clearbridge Investments LLC lifted its position in shares of Sherwin-Williams by 4.4% in the 4th quarter. Clearbridge Investments LLC now owns 2,779,294 shares of the specialty chemicals company’s stock worth $866,862,000 after purchasing an additional 116,647 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Sherwin-Williams by 2.3% during the fourth quarter. Capital Research Global Investors now owns 2,536,096 shares of the specialty chemicals company’s stock valued at $791,008,000 after purchasing an additional 56,161 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on SHW shares. Loop Capital lowered their target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Citigroup dropped their price objective on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Evercore ISI boosted their target price on shares of Sherwin-Williams from $360.00 to $365.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Royal Bank of Canada reduced their price objective on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, UBS Group lowered their target price on shares of Sherwin-Williams from $385.00 to $355.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.65.
Sherwin-Williams Stock Performance
NYSE:SHW traded down $0.51 during trading hours on Monday, reaching $317.86. The company had a trading volume of 746,173 shares, compared to its average volume of 1,568,803. The firm has a market cap of $80.59 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. The Sherwin-Williams Company has a 1-year low of $232.06 and a 1-year high of $348.37. The business’s 50 day moving average price is $304.41 and its 200-day moving average price is $312.98. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.46.
Sherwin-Williams (NYSE:SHW – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $2.04 earnings per share. Research analysts forecast that The Sherwin-Williams Company will post 11.42 EPS for the current year.
Sherwin-Williams Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were issued a $0.715 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.90%. Sherwin-Williams’s payout ratio is 30.49%.
Sherwin-Williams Company 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.
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