Waycross Partners LLC Invests $29.75 Million in The Sherwin-Williams Company $SHW

Waycross Partners LLC acquired a new stake in The Sherwin-Williams Company (NYSE:SHW) in the 4th quarter, Holdings Channel reports. The fund acquired 91,796 shares of the specialty chemicals company’s stock, valued at approximately $29,745,000. Sherwin-Williams comprises approximately 2.4% of Waycross Partners LLC’s portfolio, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHW. Rossby Financial LCC boosted its stake in Sherwin-Williams by 96.0% during the 3rd quarter. Rossby Financial LCC now owns 98 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Delos Wealth Advisors LLC bought a new stake in shares of Sherwin-Williams in the 2nd quarter worth $36,000. True Wealth Design LLC raised its stake in shares of Sherwin-Williams by 129.8% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 61 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Sherwin-Williams in the third quarter valued at $42,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its stake in Sherwin-Williams by 42.4% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 131 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 39 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SHW shares. Zacks Research cut shares of Sherwin-Williams from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Citigroup restated a “buy” rating on shares of Sherwin-Williams in a research report on Monday, January 19th. UBS Group set a $420.00 target price on shares of Sherwin-Williams in a report on Friday, January 30th. Mizuho cut their target price on shares of Sherwin-Williams from $410.00 to $371.00 and set an “outperform” rating for the company in a research note on Monday, March 23rd. Finally, Royal Bank Of Canada reduced their target price on shares of Sherwin-Williams from $390.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $384.43.

Sherwin-Williams Trading Down 1.2%

Shares of SHW opened at $315.60 on Friday. The business’s 50-day moving average price is $345.58 and its 200 day moving average price is $340.96. The company has a current ratio of 0.87, a quick ratio of 0.53 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $78.07 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.77 and a beta of 1.25. The Sherwin-Williams Company has a 1-year low of $301.58 and a 1-year high of $379.65.

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

Sherwin-Williams Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Sherwin-Williams’s previous quarterly dividend of $0.79. Sherwin-Williams’s dividend payout ratio (DPR) is 31.16%.

Insider Buying and Selling

In other 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 owned 10,045 shares in the company, valued at $3,661,101.15. This represents a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Colin M. Davie sold 2,976 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total value 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 approximately $1,928,717.50. This trade represents a 35.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

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.