State of Tennessee Treasury Department Raises Stake in Sherwin-Williams Co (SHW)
State of Tennessee Treasury Department grew its position in Sherwin-Williams Co (NYSE:SHW) by 50.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,909 shares of the specialty chemicals company’s stock after purchasing an additional 18,123 shares during the period. State of Tennessee Treasury Department’s holdings in Sherwin-Williams were worth $22,105,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of SHW. Assenagon Asset Management S.A. bought a new stake in shares of Sherwin-Williams in the third quarter valued at about $475,000. APG Asset Management N.V. lifted its holdings in shares of Sherwin-Williams by 4.9% in the third quarter. APG Asset Management N.V. now owns 192,380 shares of the specialty chemicals company’s stock valued at $68,880,000 after purchasing an additional 8,900 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Sherwin-Williams by 16.1% in the third quarter. Xact Kapitalforvaltning AB now owns 18,232 shares of the specialty chemicals company’s stock valued at $6,528,000 after purchasing an additional 2,527 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Sherwin-Williams by 35.0% in the third quarter. First Trust Advisors LP now owns 57,142 shares of the specialty chemicals company’s stock valued at $20,459,000 after purchasing an additional 14,828 shares in the last quarter. Finally, Davis R M Inc. lifted its holdings in shares of Sherwin-Williams by 4.2% in the third quarter. Davis R M Inc. now owns 40,324 shares of the specialty chemicals company’s stock valued at $14,438,000 after purchasing an additional 1,635 shares in the last quarter. Institutional investors own 74.61% of the company’s stock.
A number of analysts have recently commented on the company. Susquehanna Bancshares restated a “positive” rating and issued a $483.00 price target (down from $511.00) on shares of Sherwin-Williams in a report on Tuesday, February 13th. Seaport Global Securities upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada lifted their target price on Sherwin-Williams to $485.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. KeyCorp reaffirmed a “buy” rating and issued a $500.00 target price (up previously from $465.00) on shares of Sherwin-Williams in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Barclays reaffirmed a “hold” rating on shares of Sherwin-Williams in a research report on Sunday, January 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $436.20.
Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.91 billion. Sherwin-Williams had a return on equity of 50.59% and a net margin of 11.83%. Sherwin-Williams’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same period last year, the firm earned $2.15 EPS. equities analysts forecast that Sherwin-Williams Co will post 19.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Monday, February 26th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, February 23rd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.85. Sherwin-Williams’s payout ratio is 18.27%.
In other Sherwin-Williams news, insider Robert J. Davisson sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $407.11, for a total transaction of $407,110.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert J. Wells sold 2,946 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $409.11, for a total value of $1,205,238.06. Following the transaction, the senior vice president now directly owns 18,363 shares in the company, valued at approximately $7,512,486.93. The disclosure for this sale can be found here. 1.69% of the stock is owned by 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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