Regent Investment Management LLC purchased a new position in Sherwin-Williams Company (The) (NYSE:SHW) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 575 shares of the specialty chemicals company’s stock, valued at approximately $202,000.
A number of other hedge funds have also modified their holdings of the company. CENTRAL TRUST Co boosted its stake in shares of Sherwin-Williams Company (The) by 39.4% in the first quarter. CENTRAL TRUST Co now owns 2,510 shares of the specialty chemicals company’s stock worth $779,000 after buying an additional 710 shares in the last quarter. Rathbone Brothers plc acquired a new stake in shares of Sherwin-Williams Company (The) during the first quarter worth $21,775,000. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Sherwin-Williams Company (The) by 3.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 70,180 shares of the specialty chemicals company’s stock worth $21,769,000 after buying an additional 2,583 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in shares of Sherwin-Williams Company (The) by 5.9% in the first quarter. Toth Financial Advisory Corp now owns 7,425 shares of the specialty chemicals company’s stock worth $2,303,000 after buying an additional 411 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Sherwin-Williams Company (The) by 97.7% in the fourth quarter. Macquarie Group Ltd. now owns 27,861 shares of the specialty chemicals company’s stock worth $7,487,000 after buying an additional 13,767 shares in the last quarter. Hedge funds and other institutional investors own 72.57% of the company’s stock.
Sherwin-Williams Company (NYSE SHW) opened at 350.78 on Friday. The stock has a market capitalization of $32.46 billion, a P/E ratio of 27.48 and a beta of 1.24. Sherwin-Williams Company has a 12-month low of $239.48 and a 12-month high of $362.57. The firm’s 50-day moving average is $352.37 and its 200 day moving average is $322.17.
Sherwin-Williams Company (The) (NYSE:SHW) last issued its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $4.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.54 by $0.02. Sherwin-Williams Company (The) had a net margin of 10.02% and a return on equity of 71.96%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the company posted $4.06 earnings per share. Sherwin-Williams Company (The)’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that Sherwin-Williams Company will post $14.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Wednesday, August 16th. Sherwin-Williams Company (The)’s payout ratio is 26.67%.
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A number of analysts recently weighed in on the stock. Northcoast Research reiterated a “buy” rating on shares of Sherwin-Williams Company (The) in a research note on Wednesday. Vertical Research restated a “hold” rating and issued a $335.00 target price (up previously from $316.00) on shares of Sherwin-Williams Company (The) in a research note on Monday, June 26th. Citigroup Inc. restated a “buy” rating and issued a $410.00 target price on shares of Sherwin-Williams Company (The) in a research note on Friday, June 23rd. BidaskClub cut shares of Sherwin-Williams Company (The) from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Longbow Research upgraded shares of Sherwin-Williams Company (The) from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $354.22.
In other Sherwin-Williams Company (The) news, insider Joel D. Baxter sold 5,470 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 8,523 shares of the company’s stock, valued at $2,859,466.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas P. Gilligan sold 6,350 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $338.70, for a total transaction of $2,150,745.00. Following the sale, the senior vice president now directly owns 7,936 shares of the company’s stock, valued at $2,687,923.20. The disclosure for this sale can be found here. Insiders sold a total of 24,320 shares of company stock valued at $8,181,290 over the last three months. 1.69% of the stock is owned by corporate insiders.
About Sherwin-Williams Company (The)
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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