BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Sherwin-Williams Co (NYSE:SHW) by 6.6% during the 4th quarter, HoldingsChannel reports. The fund owned 49,325 shares of the specialty chemicals company’s stock after purchasing an additional 3,067 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Sherwin-Williams were worth $20,225,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in SHW. USA Mutuals Advisors Inc. acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at approximately $106,000. BTIM Corp. acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at approximately $202,000. Chemung Canal Trust Co. acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at approximately $204,000. New England Research & Management Inc. acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at approximately $205,000. Finally, S. R. Schill & Associates acquired a new position in shares of Sherwin-Williams in the 4th quarter valued at approximately $205,000. 74.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on SHW. Cleveland Research reaffirmed a “buy” rating on shares of Sherwin-Williams in a research report on Wednesday, March 7th. Susquehanna Bancshares reissued a “positive” rating and set a $483.00 price target (down from $511.00) on shares of Sherwin-Williams in a research report on Tuesday, February 13th. Seaport Global Securities raised Sherwin-Williams from a “neutral” rating to a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada upped their price target on Sherwin-Williams to $485.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, KeyCorp reissued a “buy” rating and set a $500.00 price target (up from $465.00) on shares of Sherwin-Williams in a research report on Monday, January 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $436.20.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $2.95 EPS for the quarter, missing the Zacks’ consensus estimate of $3.18 by ($0.23). The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.91 billion. Sherwin-Williams had a return on equity of 50.59% and a net margin of 11.83%. Sherwin-Williams’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.15 earnings per share. analysts anticipate that Sherwin-Williams Co will post 19.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Monday, February 26th were paid a dividend of $0.86 per share. This is an increase from Sherwin-Williams’s previous quarterly dividend of $0.85. This represents a $3.44 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Friday, February 23rd. Sherwin-Williams’s dividend payout ratio is presently 18.48%.
In related news, insider Peter J. Ippolito sold 750 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $409.26, for a total transaction of $306,945.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.78% of the stock is owned by corporate insiders.
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Sherwin-Williams Company Profile
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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