First Manhattan Co. Holds Position in Sherwin-Williams Co (NYSE:SHW)
First Manhattan Co. held its stake in shares of Sherwin-Williams Co (NYSE:SHW) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 704 shares of the specialty chemicals company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Sherwin-Williams were worth $247,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SHW. American Beacon Advisors Inc. purchased a new stake in shares of Sherwin-Williams during the first quarter worth $106,000. Barometer Capital Management Inc. purchased a new stake in shares of Sherwin-Williams during the first quarter worth $124,000. Financial Architects Inc increased its stake in shares of Sherwin-Williams by 218.4% in the first quarter. Financial Architects Inc now owns 433 shares of the specialty chemicals company’s stock worth $134,000 after buying an additional 297 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Sherwin-Williams during the first quarter worth $139,000. Finally, Parallel Advisors LLC increased its stake in shares of Sherwin-Williams by 2.6% in the first quarter. Parallel Advisors LLC now owns 432 shares of the specialty chemicals company’s stock worth $144,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 72.92% of the company’s stock.
Shares of Sherwin-Williams Co (NYSE:SHW) opened at 332.04 on Friday. Sherwin-Williams Co has a 12 month low of $239.48 and a 12 month high of $362.57. The firm has a market capitalization of $30.83 billion, a price-to-earnings ratio of 27.37 and a beta of 1.23. The stock’s 50 day moving average price is $348.87 and its 200-day moving average price is $327.97.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.54 by $0.02. Sherwin-Williams had a return on equity of 64.92% and a net margin of 9.65%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business earned $4.06 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Sherwin-Williams Co will post $15.00 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a $0.85 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $3.40 annualized dividend and a dividend yield of 1.02%. Sherwin-Williams’s dividend payout ratio is currently 28.05%.
SHW has been the subject of a number of research analyst reports. Credit Suisse Group set a $344.00 price target on Sherwin-Williams and gave the company a “buy” rating in a report on Thursday, April 20th. Citigroup Inc. restated a “buy” rating and set a $410.00 price objective on shares of Sherwin-Williams in a research report on Friday, June 23rd. Longbow Research upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) assumed coverage on Sherwin-Williams in a research report on Thursday, June 8th. They set a “buy” rating and a $403.00 price objective for the company. Finally, Zacks Investment Research upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price objective for the company in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $360.10.
In other news, insider Joel D. Baxter sold 5,470 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $335.50, for a total value of $1,835,185.00. Following the transaction, the insider now directly owns 8,523 shares in the company, valued at approximately $2,859,466.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.69% of the stock is owned by company insiders.
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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