First Mercantile Trust Co. Continues to Hold Stake in Sherwin-Williams Co. (SHW)
First Mercantile Trust Co. continued to hold its position in Sherwin-Williams Co. (NYSE:SHW) during the second quarter, Holdings Channel reports. The fund owned 705 shares of the company’s stock at the end of the second quarter. First Mercantile Trust Co.’s holdings in Sherwin-Williams were worth $207,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SHW. Acadian Asset Management LLC raised its position in Sherwin-Williams by 3,771.4% in the first quarter. Acadian Asset Management LLC now owns 2,168 shares of the company’s stock worth $617,000 after buying an additional 2,112 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Sherwin-Williams during the first quarter worth about $246,000. Prudential Financial Inc. raised its stake in shares of Sherwin-Williams by 8.6% in the first quarter. Prudential Financial Inc. now owns 122,895 shares of the company’s stock worth $34,984,000 after buying an additional 9,690 shares during the period. Franklin Resources Inc. raised its stake in shares of Sherwin-Williams by 7.8% in the first quarter. Franklin Resources Inc. now owns 13,535 shares of the company’s stock worth $3,853,000 after buying an additional 974 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Sherwin-Williams by 26.1% in the first quarter. BlackRock Inc. now owns 378,937 shares of the company’s stock worth $107,872,000 after buying an additional 78,348 shares during the period. Hedge funds and other institutional investors own 74.62% of the company’s stock.
Sherwin-Williams Co. (NYSE:SHW) opened at 275.84 on Tuesday. The company has a 50-day moving average of $282.62 and a 200 day moving average of $290.90. The company has a market cap of $25.32 billion, a P/E ratio of 23.26 and a beta of 0.92. Sherwin-Williams Co. has a one year low of $232.50 and a one year high of $312.48.
Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, July 21st. The company reported $4.06 earnings per share 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 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% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 EPS. Equities research analysts predict 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. Investors of record on Friday, August 19th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.22%. The ex-dividend date was Wednesday, August 17th. Sherwin-Williams’s payout ratio is 28.84%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Sherwin-Williams from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Wells Fargo & Co. assumed coverage on shares of Sherwin-Williams in a research note on Wednesday, September 28th. They set a “market perform” rating for the company. Credit Agricole SA reissued a “buy” rating and set a $350.00 target price on shares of Sherwin-Williams in a research note on Wednesday, September 14th. RBC Capital Markets reissued an “outperform” rating and set a $335.00 target price on shares of Sherwin-Williams in a research note on Saturday, August 13th. Finally, Sterne Agee CRT raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $324.31.
In related news, CEO John G. Morikis sold 30,353 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the completion of the transaction, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joel D. Baxter sold 3,853 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the transaction, the insider now owns 8,347 shares of the company’s stock, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. Corporate 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.
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