Jensen Investment Management Inc. Invests $169.77 Million in The Sherwin-Williams Company (NYSE:SHW)

Jensen Investment Management Inc. bought a new stake in shares of The Sherwin-Williams Company (NYSE:SHW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 568,878 shares of the specialty chemicals company’s stock, valued at approximately $169,770,000. Sherwin-Williams accounts for about 1.4% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 25th biggest position. Jensen Investment Management Inc. owned approximately 0.23% of Sherwin-Williams at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First United Bank & Trust purchased a new stake in Sherwin-Williams during the fourth quarter worth $31,000. Tortoise Investment Management LLC grew its stake in Sherwin-Williams by 158.5% in the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 65 shares during the last quarter. Anfield Capital Management LLC purchased a new stake in shares of Sherwin-Williams during the second quarter valued at about $38,000. Northwest Investment Counselors LLC bought a new stake in shares of Sherwin-Williams in the 1st quarter valued at about $47,000. Finally, Rise Advisors LLC boosted its holdings in shares of Sherwin-Williams by 1,154.5% in the 1st quarter. Rise Advisors LLC now owns 138 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 127 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SHW shares. Wells Fargo & Company increased their target price on shares of Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their price objective on Sherwin-Williams from $338.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their target price on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $400.00 price target (up from $386.00) on shares of Sherwin-Williams in a research note on Wednesday. Finally, Evercore ISI boosted their price target on Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average target price of $362.68.

Insider Buying and Selling at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The sale was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.

Sherwin-Williams Stock Performance

Sherwin-Williams stock traded up $3.84 during mid-day trading on Friday, hitting $363.92. The company had a trading volume of 68,535 shares, compared to its average volume of 1,595,729. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $91.80 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 2.90 and a beta of 1.17. The company’s fifty day moving average is $337.97 and its 200-day moving average is $324.52. The Sherwin-Williams Company has a 12-month low of $232.06 and a 12-month high of $371.19.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.51 by $0.19. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $3.29 earnings per share. Equities research analysts predict that The Sherwin-Williams Company will post 11.47 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be given a dividend of $0.715 per share. The ex-dividend date is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. Sherwin-Williams’s dividend payout ratio is currently 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.