Boothbay Fund Management LLC Increases Stake in The Sherwin-Williams Company $SHW

Boothbay Fund Management LLC raised its stake in The Sherwin-Williams Company (NYSE:SHW) by 2,353.9% in the third quarter, HoldingsChannel reports. The fund owned 29,349 shares of the specialty chemicals company’s stock after purchasing an additional 28,153 shares during the period. Boothbay Fund Management LLC’s holdings in Sherwin-Williams were worth $10,162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHW. MTM Investment Management LLC purchased a new position in shares of Sherwin-Williams during the 2nd quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Sherwin-Williams by 104.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Rossby Financial LCC boosted its holdings in Sherwin-Williams by 96.0% during the third quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Delos Wealth Advisors LLC acquired a new stake in Sherwin-Williams during the second quarter valued at $36,000. Finally, True Wealth Design LLC grew its position in Sherwin-Williams by 129.8% during the third quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Buying and Selling

In related news, SVP Bryan J. Young sold 2,513 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total transaction of $915,913.11. Following the completion of the sale, the senior vice president directly owned 10,045 shares in the company, valued at approximately $3,661,101.15. The trade was a 20.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Colin M. Davie sold 2,976 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $359.50, for a total value of $1,069,872.00. Following the completion of the transaction, the insider directly owned 5,365 shares of the company’s stock, valued at approximately $1,928,717.50. This represents a 35.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SHW has been the subject of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of Sherwin-Williams in a research report on Monday, January 19th. Deutsche Bank Aktiengesellschaft cut Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 target price on the stock. in a research report on Thursday, January 22nd. UBS Group set a $420.00 price target on Sherwin-Williams in a report on Friday, January 30th. Mizuho increased their price target on Sherwin-Williams from $400.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, Zacks Research lowered Sherwin-Williams from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sherwin-Williams currently has an average rating of “Moderate Buy” and an average target price of $388.21.

Sherwin-Williams Stock Up 0.6%

Shares of NYSE SHW opened at $319.62 on Friday. The firm has a market cap of $79.06 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. The company’s 50-day simple moving average is $352.08 and its 200-day simple moving average is $344.38. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $379.65.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.07. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. Sherwin-Williams had a net margin of 10.90% and a return on equity of 65.26%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. Equities analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.79. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.0%. Sherwin-Williams’s payout ratio is currently 31.16%.

Sherwin-Williams Profile

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.