Alps Advisors Inc. decreased its position in shares of Sherwin-Williams Co. (NYSE:SHW) by 6.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,405 shares of the company’s stock after selling 104 shares during the period. Alps Advisors Inc.’s holdings in Sherwin-Williams were worth $413,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in shares of Sherwin-Williams during the second quarter worth $52,516,000. Loomis Sayles & Co. L P raised its position in Sherwin-Williams by 171.6% in the first quarter. Loomis Sayles & Co. L P now owns 204,031 shares of the company’s stock worth $58,082,000 after buying an additional 128,904 shares during the last quarter. Boston Advisors LLC purchased a new position in Sherwin-Williams during the second quarter worth about $20,017,000. SevenBridge Financial Group LLC purchased a new position in Sherwin-Williams during the first quarter worth about $163,000. Finally, Picton Mahoney Asset Management purchased a new position in Sherwin-Williams during the first quarter worth about $12,571,000. 74.62% of the stock is owned by institutional investors and hedge funds.
Sherwin-Williams Co. (NYSE:SHW) traded down 1.94% on Friday, reaching $268.74. 2,340,734 shares of the company’s stock traded hands. The firm has a market cap of $24.67 billion, a price-to-earnings ratio of 22.66 and a beta of 0.92. The stock’s 50 day moving average is $280.39 and its 200 day moving average is $290.49. Sherwin-Williams Co. has a 52-week low of $234.96 and a 52-week high of $312.48.
Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.16 by $0.10. The company earned $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.70 EPS. On average, equities research analysts predict that Sherwin-Williams Co. will post $12.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Wednesday, August 17th. Sherwin-Williams’s payout ratio is presently 28.84%.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Sherwin-Williams from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Wells Fargo & Co. assumed coverage on shares of Sherwin-Williams in a research note on Wednesday, September 28th. They set a “market perform” rating for the company. Credit Agricole SA reissued a “buy” rating and set a $350.00 target price on shares of Sherwin-Williams in a research note on Wednesday, September 14th. RBC Capital Markets reissued an “outperform” rating and set a $335.00 target price on shares of Sherwin-Williams in a research note on Saturday, August 13th. Finally, Sterne Agee CRT raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $324.31.
In other news, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $298.75, for a total value of $9,067,958.75. Following the transaction, the chief executive officer now owns 119,804 shares of the company’s stock, valued at approximately $35,791,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the completion of the transaction, the insider now directly owns 8,347 shares in the company, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by company insiders.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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