First Business Financial Services Inc. Purchases New Position in Sherwin-Williams Co. (SHW)
First Business Financial Services Inc. purchased a new stake in shares of Sherwin-Williams Co. (NYSE:SHW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,267 shares of the company’s stock, valued at approximately $372,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. bought a new position in shares of Sherwin-Williams during the first quarter worth approximately $114,000. Monetary Management Group Inc. bought a new position in shares of Sherwin-Williams during the first quarter worth approximately $121,000. NN Investment Partners Holdings N.V. bought a new position in shares of Sherwin-Williams during the first quarter worth approximately $142,000. SevenBridge Financial Group LLC bought a new position in shares of Sherwin-Williams during the first quarter worth approximately $163,000. Finally, Athena Capital Advisors LLC bought a new position in shares of Sherwin-Williams during the second quarter worth approximately $206,000. 74.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sherwin-Williams Co. (NYSE:SHW) traded up 0.70% during mid-day trading on Thursday, reaching $274.00. 518,752 shares of the company’s stock traded hands. Sherwin-Williams Co. has a 12-month low of $234.96 and a 12-month high of $312.48. The company’s 50-day moving average price is $281.34 and its 200-day moving average price is $290.64. The stock has a market capitalization of $25.15 billion, a PE ratio of 23.10 and a beta of 0.92.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Thursday, July 21st. The company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by $0.10. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the company posted $3.70 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Analysts anticipate that Sherwin-Williams Co. will post $12.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders 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 dividend yield of 1.23%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.84%.
A number of brokerages recently commented on SHW. Wells Fargo & Co. began coverage on Sherwin-Williams in a report on Wednesday, September 28th. They issued a “market perform” rating on the stock. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 target price on the stock in a report on Monday, September 26th. Credit Agricole SA reaffirmed a “buy” rating and issued a $350.00 target price on shares of Sherwin-Williams in a report on Wednesday, September 14th. Sterne Agee CRT upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $335.00 price target on shares of Sherwin-Williams in a research note on Saturday, August 13th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $324.31.
In related news, CEO John G. Morikis sold 30,353 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $35,791,445. The transaction 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 that occurred 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 directly 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. 1.89% of the stock is currently owned by 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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