Portland Global Advisors LLC Continues to Hold Stake in Sherwin-Williams Co (SHW)
Portland Global Advisors LLC continued to hold its position in shares of Sherwin-Williams Co (NYSE:SHW) during the second quarter, Holdings Channel reports. The firm owned 1,117 shares of the company’s stock at the end of the second quarter. Portland Global Advisors LLC’s holdings in Sherwin-Williams were worth $328,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Nikko Asset Management Americas Inc. acquired a new position in shares of Sherwin-Williams during the first quarter worth about $114,000. Monetary Management Group Inc. acquired a new position in shares of Sherwin-Williams during the first quarter worth about $121,000. NN Investment Partners Holdings N.V. acquired a new position in shares of Sherwin-Williams during the first quarter worth about $142,000. Athena Capital Advisors LLC acquired a new position in shares of Sherwin-Williams during the second quarter worth about $206,000. Finally, Capital One National Association acquired a new position in shares of Sherwin-Williams during the second quarter worth about $213,000. Institutional investors and hedge funds own 74.63% of the company’s stock.
Sherwin-Williams Co (NYSE:SHW) traded up 0.45% on Thursday, hitting $279.62. The stock had a trading volume of 548,940 shares. Sherwin-Williams Co has a one year low of $218.27 and a one year 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 company has a market cap of $25.67 billion, a PE ratio of 23.58 and a beta of 0.87.
Sherwin-Williams (NYSE:SHW) last posted its quarterly 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.70 earnings per share. Equities analysts expect that Sherwin-Williams Co will post $12.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.20%. The ex-dividend date was Wednesday, August 17th. Sherwin-Williams’s payout ratio is currently 28.84%.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Sherwin-Williams from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. 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. 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. Sterne Agee CRT raised Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Sherwin-Williams in a report on Thursday, June 16th. One 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. The company currently has a consensus rating of “Buy” and a consensus price target of $324.85.
In other Sherwin-Williams news, CEO John G. Morikis sold 30,353 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $298.75, for a total value of $9,067,958.75. Following the transaction, the chief executive officer now directly owns 119,804 shares of the company’s stock, valued at approximately $35,791,445. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joel D. Baxter sold 3,853 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $300.16, for a total value of $1,156,516.48. Following the completion of the transaction, the insider now directly owns 8,347 shares in the company, valued at $2,505,435.52. The disclosure for this sale can be found here. 1.89% of the stock is owned by company insiders.
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.
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