Sherwin-Williams Co (SHW) Position Raised by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board boosted its position in shares of Sherwin-Williams Co (NYSE:SHW) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 165,966 shares of the specialty chemicals company’s stock after buying an additional 4,800 shares during the period. Canada Pension Plan Investment Board’s holdings in Sherwin-Williams were worth $58,247,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. American Beacon Advisors Inc. purchased a new position in shares of Sherwin-Williams during the first quarter worth about $106,000. Barometer Capital Management Inc. bought a new stake in Sherwin-Williams during the first quarter worth $124,000. Financial Architects Inc boosted its stake in 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 last quarter. State of Alaska Department of Revenue bought a new stake in Sherwin-Williams during the first quarter worth $139,000. Finally, Parallel Advisors LLC boosted its stake in 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 last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sherwin-Williams Co (NYSE SHW) opened at 332.04 on Friday. Sherwin-Williams Co has a 52 week low of $239.48 and a 52 week high of $362.57. The company has a market cap of $30.83 billion, a PE ratio of 27.37 and a beta of 1.23. The company has a 50 day moving average of $348.87 and a 200 day moving average of $327.97.
Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.54 by $0.02. Sherwin-Williams had a net margin of 9.65% and a return on equity of 64.92%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the business posted $4.06 EPS. Sherwin-Williams’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts expect that Sherwin-Williams Co will post $15.00 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, August 16th. Sherwin-Williams’s dividend payout ratio is currently 28.05%.
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SHW has been the topic of a number of research reports. Credit Suisse Group set a $344.00 target price on shares of Sherwin-Williams and gave the stock a “buy” rating in a research note on Thursday, April 20th. Barclays PLC boosted their target price on shares of Sherwin-Williams from $310.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Monday, April 24th. Zacks Investment Research raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price on the stock in a research note on Thursday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $375.00 target price (up previously from $335.00) on shares of Sherwin-Williams in a research note on Wednesday, May 17th. Finally, Jefferies Group LLC initiated coverage on shares of Sherwin-Williams in a research note on Friday, May 26th. They set a “hold” rating and a $364.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $360.10.
In related news, insider Joel D. Baxter sold 5,470 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $335.50, for a total transaction of $1,835,185.00. Following the transaction, the insider now owns 8,523 shares of the company’s stock, valued at approximately $2,859,466.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.69% of the stock is currently owned by company insiders.
Sherwin-Williams Company Profile
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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