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 fund 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 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of 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 last quarter. Strs Ohio increased its position in shares of 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 last quarter. HL Financial Services LLC increased its position in shares of 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 last quarter. Bristlecone Advisors LLC increased its position in shares of 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 last quarter. Finally, Icon Advisers Inc. Co. purchased a new position in shares of Sherwin-Williams during the first quarter worth about $5,978,000. 74.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sherwin-Williams Co (NYSE:SHW) traded up 0.45% during midday trading on Thursday, reaching $279.62. 548,940 shares of the company traded hands. Sherwin-Williams Co has a 1-year low of $218.27 and a 1-year high of $312.48. The stock’s 50-day moving average is $286.81 and its 200-day moving average is $290.94. The stock has a market capitalization of $25.67 billion, a P/E ratio of 23.58 and a beta of 0.87.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, July 21st. The company reported $4.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.16 by $0.10. The company earned $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 earnings per share. Equities analysts predict that Sherwin-Williams Co will post $12.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.84 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $3.36 annualized dividend and a yield of 1.20%. Sherwin-Williams’s dividend payout ratio is currently 28.84%.
A number of research analysts have recently issued reports on SHW shares. Sterne Agee CRT raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. Credit Agricole SA reiterated a “buy” rating and issued a $350.00 target price on shares of Sherwin-Williams in a research note on Wednesday, September 14th. Morgan Stanley reiterated a “buy” rating on shares of Sherwin-Williams in a research note on Thursday, June 16th. Zacks Investment Research cut shares of Sherwin-Williams from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $335.00 target price on shares of Sherwin-Williams in a research note on Saturday, August 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $324.85.
In other news, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the transaction, the insider now directly owns 8,347 shares in the company, valued at $2,505,435.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by company insiders.
Sherwin-Williams Company Profile
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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