Candlestick Capital Management LP Invests $38.19 Million in The Sherwin-Williams Company $SHW

Candlestick Capital Management LP acquired a new position in shares of The Sherwin-Williams Company (NYSE:SHW) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,292 shares of the specialty chemicals company’s stock, valued at approximately $38,190,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SHW. Cordatus Wealth Management LLC lifted its stake in Sherwin-Williams by 149.4% in the third quarter. Cordatus Wealth Management LLC now owns 9,588 shares of the specialty chemicals company’s stock valued at $3,320,000 after buying an additional 5,744 shares during the period. Nordea Investment Management AB increased its stake in shares of Sherwin-Williams by 16.1% in the 3rd quarter. Nordea Investment Management AB now owns 125,914 shares of the specialty chemicals company’s stock valued at $43,536,000 after acquiring an additional 17,422 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Sherwin-Williams by 26.1% during the 3rd quarter. Wealthfront Advisers LLC now owns 30,927 shares of the specialty chemicals company’s stock valued at $10,709,000 after acquiring an additional 6,408 shares during the period. Inscription Capital LLC acquired a new position in shares of Sherwin-Williams during the 3rd quarter valued at $1,069,000. Finally, Vanguard Group Inc. boosted its stake in Sherwin-Williams by 1.1% during the second quarter. Vanguard Group Inc. now owns 22,328,552 shares of the specialty chemicals company’s stock worth $7,666,732,000 after acquiring an additional 246,008 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Stock Up 0.6%

Shares of NYSE SHW opened at $319.62 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.53. The company has a 50-day moving average price of $352.08 and a 200-day moving average price of $344.38. The stock has a market capitalization of $79.06 billion, a P/E ratio of 31.12, a P/E/G ratio of 2.77 and a beta of 1.25. The Sherwin-Williams Company has a 1 year low of $308.84 and a 1 year high of $379.65.

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

Sherwin-Williams Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were issued a $0.80 dividend. This is a boost 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%. The ex-dividend date was Monday, March 2nd. Sherwin-Williams’s dividend payout ratio is 31.16%.

Insider Buying and Selling

In related news, SVP Bryan J. Young sold 2,513 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total value of $915,913.11. Following the completion of the sale, the senior vice president directly owned 10,045 shares of the company’s stock, valued at approximately $3,661,101.15. This represents a 20.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Colin M. Davie sold 2,976 shares of the firm’s 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 transaction, the insider owned 5,365 shares in the company, valued at approximately $1,928,717.50. This trade represents a 35.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

SHW has been the subject of a number of research reports. Citigroup restated a “buy” rating on shares of Sherwin-Williams in a report on Monday, January 19th. Royal Bank Of Canada set a $390.00 target price on Sherwin-Williams and gave the company an “outperform” rating in a research note on Friday, January 30th. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price for the company in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sherwin-Williams in a report on Monday, December 29th. Finally, UBS Group set a $420.00 price objective on Sherwin-Williams in a research note on Friday, January 30th. Eleven equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $388.21.

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.