Boston Advisors LLC Invests $20,017,000 in Sherwin-Williams Co (SHW)
Boston Advisors LLC bought a new position in shares of Sherwin-Williams Co (NYSE:SHW) during the second quarter, Holdings Channel reports. The firm bought 68,160 shares of the company’s stock, valued at approximately $20,017,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in Sherwin-Williams by 3.4% in the first quarter. Legal & General Group Plc now owns 326,858 shares of the company’s stock worth $93,044,000 after buying an additional 10,661 shares during the period. Strs Ohio raised its position in Sherwin-Williams by 15.5% in the second quarter. Strs Ohio now owns 243,129 shares of the company’s stock worth $71,399,000 after buying an additional 32,679 shares during the period. HL Financial Services LLC raised its position in Sherwin-Williams by 4.0% in the second quarter. HL Financial Services LLC now owns 58,196 shares of the company’s stock worth $17,092,000 after buying an additional 2,231 shares during the period. Bristlecone Advisors LLC raised its position in Sherwin-Williams by 28.6% in the first quarter. Bristlecone Advisors LLC now owns 2,700 shares of the company’s stock worth $769,000 after buying an additional 600 shares during the period. Finally, Icon Advisers Inc. Co. bought a new position in Sherwin-Williams during the first quarter worth about $5,978,000. Hedge funds and other institutional investors own 74.63% of the company’s stock.
Shares of Sherwin-Williams Co (NYSE:SHW) traded up 0.45% during trading on Thursday, reaching $279.62. The company had a trading volume of 548,940 shares. Sherwin-Williams Co has a 52-week low of $218.27 and a 52-week high of $312.48. The stock has a 50 day moving average of $286.81 and a 200 day moving average of $290.94. The stock has a market capitalization of $25.67 billion, a price-to-earnings ratio of 23.58 and a beta of 0.87.
Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.16 by $0.10. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.70 earnings per share. Equities research analysts forecast that Sherwin-Williams Co will post $12.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were paid a dividend of $0.84 per share. The ex-dividend date was Wednesday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 1.20%. Sherwin-Williams’s dividend payout ratio is presently 28.84%.
A number of research analysts recently issued reports on SHW shares. Sterne Agee CRT upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Credit Agricole SA reaffirmed a “buy” rating and set a $350.00 price target on shares of Sherwin-Williams in a report on Wednesday, September 14th. Morgan Stanley reaffirmed a “buy” rating on shares of Sherwin-Williams in a report on Thursday, June 16th. Zacks Investment Research downgraded Sherwin-Williams from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $335.00 price target on shares of Sherwin-Williams in a report on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. Sherwin-Williams presently has an average rating of “Buy” and an average price target of $324.85.
In other news, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the completion of the sale, the chief executive officer now directly owns 119,804 shares in the company, valued at $35,791,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $300.16, for a total value of $1,156,516.48. Following the sale, the insider now owns 8,347 shares of the company’s stock, valued at $2,505,435.52. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
Want to see what other hedge funds are holding SHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sherwin-Williams Co (NYSE:SHW).
Receive News & Ratings for Sherwin-Williams Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sherwin-Williams Co and related companies with MarketBeat.com's FREE daily email newsletter.