TD Asset Management Inc. Boosts Position in Sherwin-Williams Co (SHW)
TD Asset Management Inc. boosted its stake in shares of Sherwin-Williams Co (NYSE:SHW) by 51.4% during the second quarter, Holdings Channel reports. The fund owned 93,415 shares of the specialty chemicals company’s stock after buying an additional 31,711 shares during the period. TD Asset Management Inc.’s holdings in Sherwin-Williams were worth $32,785,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Sherwin-Williams by 1,591.2% in the first quarter. BlackRock Inc. now owns 5,267,993 shares of the specialty chemicals company’s stock valued at $1,634,079,000 after buying an additional 4,956,505 shares during the last quarter. Jana Partners LLC purchased a new stake in Sherwin-Williams during the first quarter valued at $203,163,000. Renaissance Technologies LLC boosted its stake in Sherwin-Williams by 195.1% in the first quarter. Renaissance Technologies LLC now owns 961,900 shares of the specialty chemicals company’s stock valued at $298,372,000 after buying an additional 635,900 shares during the last quarter. Vanguard Group Inc. boosted its stake in Sherwin-Williams by 6.2% in the first quarter. Vanguard Group Inc. now owns 6,276,033 shares of the specialty chemicals company’s stock valued at $1,946,763,000 after buying an additional 365,675 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Sherwin-Williams by 272.8% in the first quarter. Prudential Financial Inc. now owns 467,216 shares of the specialty chemicals company’s stock valued at $144,926,000 after buying an additional 341,880 shares during the last quarter. 72.92% of the stock is currently owned by institutional investors and hedge funds.
Sherwin-Williams Co (SHW) opened at 332.04 on Friday. The stock has a market capitalization of $30.83 billion, a price-to-earnings ratio of 27.37 and a beta of 1.23. Sherwin-Williams Co has a one year low of $239.48 and a one year high of $362.57. 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 announced its earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.54 by $0.02. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. Sherwin-Williams had a net margin of 9.65% and a return on equity of 64.92%. Sherwin-Williams’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned $4.06 earnings per share. On average, equities analysts forecast that Sherwin-Williams Co will post $15.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $3.40 annualized dividend and a yield of 1.02%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.05%.
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SHW has been the topic of several research reports. Zacks Investment Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price objective on the stock in a research report on Thursday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $375.00 price objective (up from $335.00) on shares of Sherwin-Williams in a research report on Wednesday, May 17th. Barclays PLC lifted their price objective on Sherwin-Williams from $310.00 to $335.00 and gave the company an “equal weight” rating in a research report on Monday, April 24th. Jefferies Group LLC initiated coverage on Sherwin-Williams in a research report on Friday, May 26th. They set a “hold” rating and a $364.00 price objective on the stock. Finally, Northcoast Research reaffirmed a “buy” rating on shares of Sherwin-Williams in a research report on Wednesday, July 19th. Two equities 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 stock. The company presently has a consensus rating of “Hold” and an average price target of $360.10.
In other Sherwin-Williams news, insider Joel D. Baxter sold 5,470 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $335.50, for a total value of $1,835,185.00. Following the completion of the sale, the insider now directly owns 8,523 shares in the company, valued at $2,859,466.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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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