Cartenna Capital LP Invests $64.06 Million in The Sherwin-Williams Company $SHW

Cartenna Capital LP acquired a new stake in The Sherwin-Williams Company (NYSE:SHW) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 185,000 shares of the specialty chemicals company’s stock, valued at approximately $64,058,000. Sherwin-Williams accounts for 1.8% of Cartenna Capital LP’s investment portfolio, making the stock its 18th largest position. Cartenna Capital LP owned 0.07% of Sherwin-Williams as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Sherwin-Williams by 73.6% in the fourth quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company’s stock worth $525,000 after acquiring an additional 655 shares during the last quarter. Empowered Funds LLC increased its position in Sherwin-Williams by 11.2% during the first quarter. Empowered Funds LLC now owns 6,236 shares of the specialty chemicals company’s stock worth $2,178,000 after purchasing an additional 626 shares during the last quarter. Bailard Inc. purchased a new position in Sherwin-Williams during the second quarter worth approximately $492,000. Intrua Financial LLC purchased a new position in Sherwin-Williams during the second quarter worth approximately $300,000. Finally, Wrapmanager Inc. acquired a new position in shares of Sherwin-Williams in the 2nd quarter valued at $218,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHW has been the subject of a number of research analyst reports. Mizuho upped their price objective on Sherwin-Williams from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Sherwin-Williams in a report on Monday, January 19th. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price target for the company in a research report on Wednesday, January 7th. UBS Group set a $420.00 price target on Sherwin-Williams in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sherwin-Williams in a report on Monday, December 29th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $388.21.

Insiders Place Their Bets

In other Sherwin-Williams news, SVP Bryan J. Young sold 2,513 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total transaction of $915,913.11. Following the completion of the transaction, the senior vice president directly owned 10,045 shares of the company’s stock, valued at $3,661,101.15. This trade represents a 20.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Colin M. Davie sold 2,976 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the completion of the sale, the insider directly owned 5,365 shares of the company’s stock, valued at $1,928,717.50. The trade was a 35.68% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Trading Up 0.6%

NYSE:SHW opened at $319.62 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.53 and a current ratio of 0.87. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $379.65. The business’s 50-day simple moving average is $352.08 and its 200 day simple moving average is $344.38. The stock 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.

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

Sherwin-Williams Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were given 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 dividend payout ratio is 31.16%.

About Sherwin-Williams

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.